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 recent cases. A higher rate of interest is obtainable on enterprises in an undeveloped country than in a developed one, provided the risks connected with an unsettled government can be minimized. To minimize these risks the financiers call in the assistance of the military and naval forces of the country which they are momentarily asserting to be theirs. In order to have the support of public opinion in this demand, they have recourse to the power of the Press.

The Press is the second great factor to which critics of capitalism point when they wish to prove that capitalism is the source of modern war. Since the running of a big newspaper requires a large capital, the proprietors of important organs necessarily belong to the capitalist class, and it will be a rare and exceptional event if they do not sympathise with their own class in opinion and outlook. They are able to decide what news the great mass of newspaper readers shall be allowed to have. They can actually falsify the news, or, without going so far as that, they can carefully select it, giving such items as will stimulate the passions which they desire to stimulate, and suppressing such items as would provide the antidote. In this way the picture of the world in the mind of the average newspaper reader is made to be not a true picture, but in the main that which suits the interests of capitalists. This is true in many directions, but above all in what concerns the relations between nations. The mass of the population of a country can be led to love or hate any other country at the will of the