In view of the increasing ferment of American political and economic thought, no apology is necessary for submitting our traditional ideas and practices to an examination from an untraditional point of view.

I need scarcely add that the untraditional point of view will contain little or no original matter.

The only novelty such an inquiry can claim is the novelty of applying ideas, long familiar to foreign political thinkers, to the subject-matter of American life.

When applied to American life, this group of ideas assumes a somewhat new complexion and significance; and the promise of such a small amount of novelty will, I trust, tempt even a disapproving reader to follow somewhat farther the course of the argument..