Socialism; Promise Or Menace?

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26 ; Kerr's Edition.
'The "Communist Manifesto" appeared in 1848.
* Professor Bowley in the Economic Journal, viii, 488.
' Pp. 46, sq.
THE PHILOSOPHY OF SOCIALISM 1 13 figures are taken, declares that the other countries of Europe "show no materially different picture," and that the members of the possessing classes are increasing both absolutely and relatively.
In the United States we have unfortunately no definite statistics regarding the numbers of persons in receipt of any particular range
...of incomes, or in possession of particular amounts of property. For our present pur- pose the most significant available figures are the follow- ing: Between 1875 and 1911 the number of savings-banks depositors quadrupled, while the population merely doubled; from 1880 to 1905 the wealth of the coimtry increased two and one-half times, but the amount of savings-banks deposits three and three-quarters times; the average size of farms fell from 206 acres in 1850 to 138 acres in 1910 ; and between 1900 and 1910 the pro- portion of our agricultural land in farms of more than 1000 acres decreased more than six and one-half per cent."^ Although the wage-earners have shown no tendency toward progressive deterioration, nor the middle classes toward progressive disappearance, has not the concen- tration phase of the Marxian prediction been justified ?

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