The capital
value of the tramway still virtually belongs to the private holders of
the municipal loan. But no second such step is possible. Holders of
municipal stock cannot be "compensated," if it is taken from them. They
can be paid off; or their property can be confiscated either by taxation
or by repudiation of the debt: there is no middle course. The whole
problem therefore arises from confusion of thought.
See Fabian Tract 147 "Capital and Compensation."
Chapter X
The Policy of Expansion: 1907-12
Statistics of growth--The psychology of the Recruit--Famous
Fabians--The Arts Group--The Nursery--The Women's Group--Provincial
Fabian Societies--University Fabian Societies--London Groups
revived--Annual Conferences--The Summer School--The story of
"Socialist Unity"--The Local Government Information Bureau--The Joint
Standing Committee--Intervention of the International Socialist
Bureau.
The episode described in the last chapter, which took place during the
years 1906 to 1908, was accompanied by many other developments in the
activities of the Society which must now be described. In the first
place the membership grew at an unprecedented rate. In the year ended
March, 1905, 67 members were elected. Next year the number was 167, to
March, 1907, it was 455, to March, 1908, 817, and to March, 1909, 665.
This was an enormous accession of new blood to a society which in 1904
had only 730 members in all.
Pages:
204
205
206
207
208
209
210
211
212
213
214
215
216
217
218
219
220
221
222
223
224
225
226
227
228