into two great classes, directly facing each other: Bourgeoisie
and Proletariat.

From the serfs of the Middle Ages sprang the chartered burghers
of the earliest towns. From these burgesses the first elements
of the bourgeoisie were developed.

The discovery of America, the rounding of the Cape, opened up
fresh ground for the rising bourgeoisie. The East-Indian and
Chinese markets, the colonisation of America, trade with
the colonies, the increase in the means of exchange and in
commodities generally, gave to commerce, to navigation, to
industry, an impulse never before known, and thereby, to the
revolutionary element in the tottering feudal society, a rapid
development.

The feudal system of industry, under which industrial production
was monopolised by closed guilds, now no longer sufficed for the
growing wants of the new markets. The manufacturing system took
its place. The guild-masters were pushed on one side by the
manufacturing middle class; division of labour between the
different corporate guilds vanished in the face of division of
labour in each single workshop.

Meantime the markets kept ever growing, the demand ever rising.
Even manufacture no longer sufficed. Thereupon, steam and
machinery revolutionised industrial production. The place of
manufacture was taken by the giant, Modern Industry, the place of
the industrial middle class, by industrial millionaires, the
leaders of whole industrial armies, the modern bourgeois.