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vi some blind "destiny," but who desire to understand political forces in order that they may direct them.

Those readers who hold that a well-balanced judgment consists in always finding as much in favour of any political course as against it will be discontented with the treatment given here. For the study is distinctively one of social pathology, and no endeavour is made to disguise the malignity of the disease.

The statistics given in Part I. are derived, when the source is not stated, from the "Statistical Abstracts" published by the Government, reinforced, in some instances, by figures derived from the "Statesman's Yearbook."

I am indebted to the editor of the "Financial Reform Almanac" for permission to reproduce the valuable diagram illustrative of British expenditure from 1870, and to the editors of the Speaker, the Contemporary Review, the Political Science Quarterly, and the British Friend for permission to embody in chapters of this volume articles printed in these magazines.

I desire also to express my gratitude to my friends Mr. Gilbert Murray and Mr. Herbert Rix for their assistance in reading most of the proof-sheets and for many valuable suggestions and corrections.

JOHN A. HOBSON. August 1902.