Therefore, any enterprise by a private capitalist was always a doubtful experiment.

The projector having no general view of the field of industry and consumption, such as our government has, could never be sure either what the people wanted, or what arrangements other capitalists were making to supply them.

In view of this, we are not surprised to learn that the chances were considered several to one in favor of the failure of any given business enterprise, and that it was common for persons who at last succeeded in making a hit to have failed repeatedly.

If a shoemaker, for every pair of shoes he succeeded in completing, spoiled the leather of four or five pair, besides losing the time spent on them, he would stand about the same chance of getting rich as your contemporaries did with their system of private enterprise, and its average of four or five failures to one success.
"The next of the great wastes was that from competition.

The field of industry was a battlefield as wide as the world, in which the workers wasted, in assailing one another, energies which, if expended in concerted effort, as to-day, would have enriched all.