retention of the centralization of the purchase of raw materials brought
about by the war.

In order to accomplish these objects there must be a "Revolution in
National Finance." The present method of raising funds is denounced; and
it is pointed out that only one quarter of the colossal expenditure made
necessary by the war has been raised by taxation, and that the three
quarters borrowed at onerous rates is sure to be a burden on the nation's
future. The capital needed, when peace comes, to ensure a happy and
contented democracy must be procured without encroaching on the minimum
standard of life, and without hampering production. Indirect taxation
must therefore be concentrated on those luxuries of which it is desirable
that the consumption be discouraged. The steadily rising unearned
increment of urban and mineral land ought, by appropriate direct
taxation, to be brought into the public exchequer; "the definite
teachings of economic science are no longer to be disregarded." Hence
incomes are to be taxed above the necessary cost of family maintenance,
private fortunes during life and at death; while a special capital levy
must be made to pay off a substantial portion of the national debt.

"The Democratic Control of Industry" contemplates the progressive
elimination of the private capitalist and the setting free of all who
work by hand and brain for the welfare of all.

The Surplus Wealth is to be expended for the Common Good. That which
Carlyle designates as the "inward spiritual," in contrast to the "outward
economical," is also to be provided for. "Society," says the document,
"like the individual, does not live by bread alone, does not exist only
for perpetual wealth production." First of all, there is to be education
according to the highest modern standard; and along with education, the