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64 it is valuable—which was quite distinct from his own energy or industry, and which hardly ever failed to affect those with whom he came into personal contact. In his immediate subordinates—Mr. George Wardle first, and the Messrs. Smith afterwards—he was fortunate in finding men who caught this energy from him and yet retained with it a full measure of shrewdness and caution. But such good fortune, according to the Greek proverb so often quoted by Aristotle, is in itself nearly akin to skill; and the choice of a good manager is in effect good management.

But for the ordinary processes of competitive commerce, and this as much before as after he adopted any distinctively Socialistic views, his qualities, whether intellectual or emotional, were not such as are calculated to lead to conspicuous success. The truth is that commercial success is an art which must be seriously pursued, and which he, quite apart from any question of morality, was at once too imaginative, too soft-hearted, and too much engrossed by wholly different interests, to pursue seriously. He carried on his business as a manufacturer not because he wished to make money, but because he wished to make the things he manufactured. The art of commerce as it consists in buying material and labour cheaply, and forcing the largest possible sale of the product, was one for which he had little aptitude and less liking. In every manual art which he touched, he was a skilled expert: in the art of money-making he remained to the last an amateur. Throughout he regarded material with the eye of the artist, and labour with the eye of a fellow-labourer. He never grudged or haggled over the price of anything which he thought really excellent of its kind and really desirable for him to have; he would dye with kermes instead of cochineal if he