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 because it would not have been possible for our needs to be provided as well as they are now. That some people have access to some of the bottles as a matter of legal right, is only because this privilege has been handed on to them by those who laid down the cellar. If we took their right away, there would be a few more bottles for the rest of us while the cellar lasted, but would the process of laying down for those who come after us be likely to continue on this voluntary basis? It would most probably have to be done by officials or Committees. Their efforts might appear at first sight to be cheaper than those of the private benefactor, who took a consideration for his forethought when he could earn it, but might cost the community dear in the long run if they laid down the wrong vintage or were too timid to try new brands.

Such is the debt that all of us owe to the capitalists of the past. But when we have taken off our hats to them and acknowledged it, we have to give our minds to reforming and improving the Capitalism of the present.

In our studies of the schemes that have been put forward for improving the economic system, we have found many aspirations that were highly desirable if they could be made into