of the lowering price of silver it still remains true that we may more profitably export goods to China now than in normal periods, and in consequence, this would seem a fitting time for American investments in China to be followed up by shipments of machinery and capital equipment of all kinds to help develop to the best advantage the almost unlimited material resources of that country. XVI PROPOSED FORMS OF SOCIAL AND POLITICAL ORGANIZATION THE industrial unrest of to-day has brought to the front a multitude of plans for the improvement of existing conditions, many of them dealing with the form of social organization or with the relations of the economic classes to one another. Some of these plans contain elements of value; others would lead the world back into the chaos of the dark ages. The current press speaks constantly of socialism, anarchism, guild socialism, syndicalism, trade unionism, "one-big-unionism," sovietism, and bolshevism. Out of this conflict of theories has come a better knowledge of social and economic evils; and the latest extreme abuses of the radicals have certainly taught us much to avoid. In view of the many misconceptions of the real nature of these theories it is worth while to examine briefly the main points of these schemes for rebuilding our social structure. Perhaps the most comprehensive of the projects for the improvement of society is socialism. While there are varieties of socialists, all agree on fundamentals, but differ as to the immediate program. The largest group at present is the so-called conservative or "right" wing as distinguished from the more radical or "left" wing. Both left and right are united in demanding that the state own and conduct all the agencies of production and distribu tion. This means state ownership not only of land and natural resources-farms, mines, water power, etc.,—but also of railroads, telegraphs, telephones, factories, shops, stores, banking, insurance, and practically all economic agencies. With this goes state control, either direct or indirect, of their use. The constitution of the American Socialist Party, adopted in May, 1919, sums up the doctrine by stating that its basic aim is "to eliminate profit, rent and insurance"; that is, to abolish private ownership of enterprises, of land and of capital (the implements for producing goods). The actual administration of this state ownership is to be by means of officials elected by universal suffrage; some form of leasing is occasionally mentioned. This method of conducting industry is generally called the "Cooperative Commonwealth," an organization, however, which differs markedly from the cooperative societies with which most of us are familiar. The process whereby this change to universal government ownership is to be accomplished is the rock on which the promoters of the doctrine split. The conservative socialist leaders usually insist on orderly political methods and the gradual introduction and extension of ownership by the state. The policy of these so-called Fabian Socialists or "parliamentarians" is opposed by the more radical elements who compose the "left wing" of the party, the revolutionists, and whose lack of patience with the slow educational program had led them to advocate the use of violence, "direct action," in order to end what they deem the evils of capitalism. At the opposite extreme of socialism is anarchism. By its derivation the term "anarchy" means the absence of government. Theoretical believers in anarchism hold that the powers of government should be restricted to the minimum (practically abolished) and that whatever organi |