The book, an English translation of which is here republished, was first issued in Germany in 1845. The author, at that time, was young, twenty-four years of age, and his production bears the stamp of his youth with its good and its faulty features, of neither of which he feels ashamed. It was translated into English, in 1885, by an American lady, Mrs. F. Kelley Wischnewetzky, and published in the following year in New York. The American edition being as good as exhausted, and having never been extensively circulated on this side of the Atlantic, the present English copyright edition is brought out with the full consent of all parties interested.

For the American edition, a new Preface and an Appendix were written in English by the author. The first had little to do with the book itself; it discussed the American Working-Class Movement of the day, and is, therefore, here omitted as irrelevant, the second—the original preface—is largely made use of in the present introductory remarks.

The state of things described in this book belongs to-day, in many respects, to the past, as far as England is concerned. Though not expressly stated in our recognised treatises, it is still a law of modern Political Economy that the larger the scale on which Capitalistic Production is carried on, the less can it support the petty devices of swindling and pilfering which characterise its early stages. The pettifogging business tricks of the Polish Jew, the representative in Europe of commerce in its lowest stage, those tricks that serve him so well in his own country, and are generally practised there, he finds to be out of date and out of place when he comes to Hamburg or Berlin; and, again, the commission agent, who hails from Berlin or Hamburg, Jew or Christian, after frequenting the Manchester Exchange for a few months, finds out that, in order to buy cotton yarn or cloth cheap, he, too, had better drop those slightly more refined but still miserable wiles and subterfuges which are considered the acme of cleverness in his native country. The fact is, those tricks do not pay any longer in a large market, where time is money, and where a certain standard of commercial morality is unavoidably developed, purely as a means of saving time and trouble. And it is the same with the relation between the manufacturer and his “hands.”

The revival of trade, after the crisis of 1847, was the dawn of a new industrial epoch. The repeal of the Corn Laws and the financial reforms subsequent thereon gave to English industry and commerce all the elbow-room they had asked for. The discovery of the Californian and Australian gold-fields followed in rapid succession. The Colonial markets developed at an increasing rate their capacity for absorbing English manufactured goods. In India millions of hand-weavers were finally crushed out by the Lancashire power-loom. China was more and more being opened up. Above all, the United States—then, commercially speaking, a mere colonial market, but by far the biggest of them all—underwent an economic development astounding even for that rapidly progressive country. And, finally, the new means of communication introduced at the close of the preceding period—railways and ocean steamers—were now worked out on an international scale; they realised actually, what had hitherto existed only potentially, a world-market. This world-market, at first, was composed of a number of chiefly or entirely agricultural countries grouped around one manufacturing centre—England—which consumed the greater part of their surplus raw produce, and supplied them in return with the greater part of their requirements in manufactured articles. No wonder England’s industrial progress was colossal and unparalleled, and such that the status of 1844 now appears to us as comparatively primitive and insignificant. And in proportion as this increase took place, in the same proportion did manufacturing industry become apparently moralised. The competition of manufacturer against manufacturer by means of petty thefts upon the workpeople did no longer pay. Trade had outgrown such low means of making money; they were not worth while practising for the manufacturing millionaire, and served merely to keep alive the competition of smaller traders, thankful to pick up a penny wherever they could. Thus the truck system was suppressed, the Ten Hours’ Bill was enacted, and a number of other secondary reforms introduced—much against the spirit of Free Trade and unbridled competition, but quite as much in favour of the giant-capitalist in his competition with his less favoured brother. Moreover, the larger the concern, and with it the number of hands, the greater the loss and inconvenience caused by every conflict between master and men; and thus a new spirit came over the masters, especially the large ones, which taught them to avoid unnecessary squabbles, to acquiesce in the existence and power of Trades’ Unions, and finally even to discover in strikes—at opportune times—a powerful means to serve their own ends. The largest manufacturers, formerly the leaders of the war against the working-class, were now the foremost to preach peace and harmony. And for a very good reason. The fact is, that all these concessions to justice and philanthropy were nothing else but means to accelerate the concentration of capital in the hands of the few, for whom the niggardly extra extortions of former years had lost all importance and had become actual nuisances; and to crush all the quicker and all the safer their smaller competitors, who could not make both ends meet without such perquisites. Thus the development of production on the basis of the capitalistic system has of itself sufficed—at least in the leading industries, for in the more unimportant branches this is far from being the case—to do away with all those minor grievances which aggravated the workman’s fate during its earlier stages. And thus it renders more and more evident the great central fact, that the

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