William Clarke in explaining the "Industrial Basis" assumed that the industry would be rapidly dominated by trusts--then a new phenomenon--with results, the crushing out of all other forms of industrial organisation, which are but little more evident to-day, though we should no longer think worthy of record that the Standard Oil Company declared a 10 per cent cash dividend in 1887!
If the Essays had been written in 1890 instead of 1888 the authors would have acquired from the great Trade Union upheaval of 1889 a fuller appreciation of the importance of Trade Unionism than they possessed at the earlier date. Working-class organisation has never been so prominent in London as in the industrial counties, and the captious comments on the great Co-operative movement show that the authors of the Essays were still youthful, and in some matters ignorant.[25]
Sydney Olivier's "Moral Basis" is, in parts, as obscure now as it was at first, and there are pages which can have conveyed but little to most of its innumerable readers. Graham Wallas treated of "Property" with moderation rather than knowledge. Time has dealt hardly with Mrs. Besant's contribution. She anticipated, as the other Essayists did, that unemployment caused by labour-saving machinery would constantly increase; and that State organisation of industries for the unemployed would gradually supersede private enterprise. She apparently supposed that the county councils all over England, then newly created, were similar in character to the London County Council, which had already inaugurated the Progressive policy destined in the next few years to do much for the advancement of practical socialism. The final paper on "The Outlook," by Hubert Bland, is necessarily of the nature of prophecy, and in view of the difficulty of this art his attempt is perhaps less unsuccessful than might have been expected. He could foresee the advent neither of the Labour Party, mainly formed of Trade Unionists, nor of Mr. Lloyd George and the policy he represents: he assumed that the rich would grow richer and the poor poorer; that Liberals would unite with Tories, as they have done in Australia, and would be confronted with a Socialist Party representing the dispossessed. Possibly the developments he sketches are still to come, but that is a matter which cannot be discussed here.