That fruit upon which our modern observation has been most fixed was Capitalism.

Capitalism proceeded from England and from the English Reformation; but it was not fully alive until the early eighteenth century.  In the nineteenth it matured.

Another cognate fruit was what to-day we call Finance, that is, the domination of the State by private Capitalists who, taking advantage of the necessities of the State, fix an increasing mortgage upon the State and work perpetually for fluidity, anonymity, and irresponsibility in their arrangements.  It was in England, again, that this began and vigorously began with what I think was the first true “National Debt”; a product contemporary in its origins with industrial Capitalism.

Another was that curious and certainly ephemeral vagary of the human mind which has appeared before now in human history, which is called “Sophistry,” and which consists in making up “systems” to explain the world; in contrast with Philosophy which aims at the answering of questions, the solution of problems and the final establishment of the truth.

But most interesting of all just now, though but a minor fruit, is the thing called “The Press.”  It also began to arise contemporaneously with Capitalism and Finance:  it has grown with them and served them.  It came to the height of its power at the same modern moment as did they.

Let us consider what exactly it means:  then we shall the better understand what its development has been.

II

“The Press” means (for the purpose of such an examination) the dissemination by frequently and regularly printed sheets (commonly daily sheets) of (1) news and (2) suggested ideas.

These two things are quite distinct in character and should be regarded separately, though they merge in this:  that false ideas are suggested by false news and especially by news which is false through suppression.

First, of News:—­

News, that is, information with regard to those things which affect us but which are not within our own immediate view, is necessary to the life of the State.

The obvious, the extremely cheap, the universal means of propagating it, is by word of mouth.

A man has seen a thing; many men have seen a thing.  They testify to that thing, and others who have heard them repeat their testimony.  The Press thrust into the midst of this natural system (which is still that upon which all reasonable men act, whenever they can, in matters most nearly concerning them) two novel features, both of them exceedingly corrupting.  In the first place, it gave to the printed words a rapidity of extension with which repeated spoken words could not compete.  In the second place, it gave them a mechanical similarity which was the very opposite to the marks of healthy human news.

I would particularly insist upon this last point.  It is little understood and it is vital.