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The steam engine that propelled the Industrial Revolution in Britain and Revolution and the emergence of the modern capitalist economy, and The term Industrial Revolution applied to technological change was common in the 1830s. ..

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HISTORICAL situations are never reproduced, even approximately; but it is at least interesting to recall the postwar problems which our grandfathers or great-grandfathers had to face, and how they handled them; to ask how far our sufferings and anxieties have had their parallels in the not remote past; and to note some danger signals. By " we " I mean nlot the British only, but all the peoples of Western and Central Europe. Of Eastern Europe I will only speak incidentally; for I am unable as yet to extract truth from the conflicting and biassed evidence as to its ecoonomic condition. Moreover, there is still war in the East. In 1815 France had been engaged in almost continuous wars for twenty-three, England for twenty-two, years. Thle German States had beenl at war less continuously; but they had been fought over, conquered, and occupied by the French. Prussia, for instance, was overthrown in 1806. When the final struggle against Napoleon began, in 1812, there was a French Army of Occupation of nearly 150,000 men in Prussia alone. From 1806 to 1814 Napoleon's attempt to exclude English trade from the Continent had led to the English blockade-with its striking resemblances to, and its striking differences from, the blockade of 1914-19. Warfare was less horribly intense, and so less economically destructive, than it has become in our day; but what it lacked in intensity it made up in duration. Take, for instance, the loss of life. For England it was relatively small-because for us the wars were never people's wars. In France also it was relatively small in the earlier years, when armies of the old size were mainly employed. But under 1 Presidential Address before Section F of the British Association, Cardiff, Aug. 25, 1920. No. 120.-VOL. XXX.