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  republican ­
  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  enterprise ­
  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-