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90 known in the history of diplomacy and of foreign affairs.

At the zenith of free competition in Britain, between 1840 and 1860, her leading capitalist politicians declared themselves against colonial policy, considering the emancipation of the colonies and their complete separation from the Mother Country as being not only inevitable but very desirable. M. Beer shows in an article on Modern British Imperialism, published in 1898, that in 1852, Disraeli, despite his general inclination to an imperialist policy, nevertheless declared: "The colonies are millstones round our necks." But at the end of the 19th century, the heroes of the hour were Cecil Rhodes and Joseph Chamberlain, the open advocates of imperialism and the most cynical exponents of imperialist policy.

It is not without interest to observe that at this time the political managers of the British bourgeoisie were fully aware of the connection between what might be called the purely economic and the politico-social roots of modern imperialism.

Chamberlain gave his blessing to imperialism by calling it a "truly wise and economical policy," and he emphasised above all the fact that Germany, America and Belgium were competitors against Britain in the world market.

Salvation, said the capitalist founders of cartels, syndicates and trusts, lies in monopolies. Salvation lies in monopolies, echoed the political leaders of the bourgeoisie, hastening to appropriate parts of the world not yet shared out.

Stead, the journalist, relates how Cecil Rhodes, his close friend, said to him in 1895, in connection with his imperialist ideas: "Yesterday I was