Chapter VI: Book IV

THE REASONABLE HOPES OF LABOUR—THEIR MAGNITUDE,
AND THEIR BASIS

I. How the Future and Hopes of the Labouring
Classes are bound up with the Prosperity of
the Classes who exercise Ability—

Short Summary of the preceding Arguments 237
The preceding Arguments from the Labourer’s Point
of View 240
The Share of Labour in the growing Products of
Ability 242
The amount produced by Labour 244
The amount taken by Labour 245
Continuous Recent Growth of the Receipts of Labour 246
Growth of the Receipts of Labour during Queen
Victoria’s Reign 248
Actual Gains of Labour beyond the Dreams of Socialism 250
Two Points to be considered 252

II. Of the Ownership of Capital, as distinct from its
Employment by Ability—

Land and its Owners 253
Passive Ownership of Capital 255
The Class that Lives on Interest 256
The Hope of Interest as a Motive 257
Capital created and saved mainly for the sake
of Interest 258
Family Feeling 260
The Bequest of Capital 261
Interest a Necessary Incident as the Price of
the Use of Capital 262
A Part of the Interest of Capital constantly
appropriated by Labour 264
Interest not to be confused with Large Profits 266
Interest not to be confused with the Profits of
Sagacity 268
Enormous gains of Labour at the expense of
Ability 270
Labour and the Existing System 272

III. Of the Causes owing to which, and the Means by
which Labour participates in the Growing Products
of Ability—

A Miserable Class co-existing with General
Progress 273
Relative Decrease of Poverty 276
Two Causes of Popular Progress 277
The Riches of a Minority 278
How they are produced 279
The Rich Man’s Progress 280
The Rivalry of the Rich 282
The Gain of Labour 283
Popular Progress and Growth of Population 284
The Gain of Labour limited by the Power of
Ability 286
The Natural Gain of Labour 288
Its relation to Politics 289
Self-Help and State Help 290

IV. Of Socialism and Trade Unionism—the Extent
and Limitation of their Power in increasing the
Income of Labour—

So-called Socialism in England different from
Formal Socialism 291
An Element of Socialism necessary to every State 294
The Socialistic question entirely a question of
degree 296
Socialism not directly operative in increasing the
Income of Labour 298
Trade Unionism 300
How it strengthens Labour 301
How the power of striking grows with the growth of
Wages 302
Natural Limits of the Powers of Trade Unionism 304
Labour and Ability 306
Higgling on Equal Terms 307
The Power represented by Strikes not Labour, but
Labouring Men 308
Leaders of Labouring Men rarely Leaders of Labour 310
The Power of Trade Unionism important, though
limited 312
Certain remaining points 314

V. Of the enormous Encouragement to be derived
by Labour from a true View of the Situation;
and of the Connection between the Interests of
the Labourer and Imperial Politics—

A Recapitulation 315
The Practical Moral 317
The True Functions of Trade Unionism and Socialism 318
The Natural Progress of Labour a Stimulus to Effort 320
The Future of Labour judged from its Past Progress 322
The one thing on which the Hopes of Labour depend 324
The Real Bargain of Labour not with Capital but
Ability 326
Subordination to Ability no Indignity to Labour 328
The Moral Debt of Ability to Labour 330
Labour, Nature, and Ability 332
The Home and Foreign Food 333
Imperial Politics and the National Income 334
The Labourer’s home 336

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