THE SOCIALISM OF TO-DAY. 
70 
called impracticable, is practised under our very eyes and with 
such success in Catholic countries that, if the civil government 
did not take precautions, the religious bodies would speedily 
absorb everything. But here, again, self-interest is brought 
into play, only the object it seeks after is situated in heaven. 
In joint-stock companies the same difficulty exists with 
regard to the choice of managers as that encountered by 
co-operative societies. The incentive of private interest is 
weakened, but the directors are well paid. They usually have 
a share of the profits, and they may be changed if they manage 
the business badly ; hence they are interested in doing well. 
Furthermore, as the most capable men are chosen, they are 
almost always superior to manufacturers who work on their 
own account, and thus their greater capacity compensates for 
the more feeble action of personal interest. The majority 
of co-operative societies have succumbed, on the contrary, 
through the shortcomings of their managers. The reason is 
evident. 
Co-operation as compared to individual enterprise is repub 
lican government succeeding to despotic rule. History, and 
even contemporary facts, prove that many qualities are needful 
in a people before republican institutions can succeed among 
them. In order to conduct a commercial or industrial enter 
prise properly, certain special aptitudes are indispensable ; and 
if working men were to choose one of their number, these 
aptitudes would frequently be found wanting in him. His 
authority would be disputed, and his equals would not obey 
him properly. Enthusiasm for the work undertaken would 
keep the co-operators to their duty for some time ; but sooner 
or later they would tire, devotion to their principles would cool 
down, incompatibilities of temper would manifest themselves, 
and dissensions or the incapacity of managers would finally 
lead to the dissolution of the society. In order to have a 
capable director, it would be necessary to pay him well ; he 
would straightway become a bourgeois, living like a bourgeois, 
a fact which would at once excite the jealousy of his comrades. 
His salary would be about equal to the profits of the single 
owner, and thus no saving would be effected. This draw-