The house of Industry : a new estate of the realm

94 THE HOUSE OF INDUSTRY

nothing less than a conjunction of Capitalist blunders and stupidities. Therefore, in entrusting our economic life to the general control of a representative House of Industry, in which Labour shall be a permanent majority, we are building upon the solid rock of Labour experience and not upon the sinking sands of Capitalist speculation and profiteering. Let the Labour faint-hearts keep this fact steadily in mind: there is not any shortage of any natural product in any part of the world. Nor is there any shortage of any manufactured product. Why are we the victims of such astounding misleadership? If it were war instead of industry, all the Capitalist leaders would long since have been cashiered, and perhaps some of them shot—pour encourager les autres.

There is yet another reason why Labour should make haste to constitute the House of Industry. In addition to the difficulties inherent to the present confusion of the political and economic, the dice are always loaded against Labour. I am not prepared to assert to what extent finance, credit and business can be influenced by any political group. But, I am very sure that when such influence is exerted it is invariably against Labour. And when the game is played—particularly just now with Protection as the great stake—the House of Lords plays its subtle and effective part. The boot is on the other foot, when Labour abolishes the House of Lords and establishes the House of Industry.

Guided by these facts, I earnestly submit that