EIGHT years have passed since the first edition of this book was published, and forty years since the Fabian Society was founded. Up to 1916 our record was thirty-two years of successful propaganda; the Socialist Societies were well established: the Labour Party, which in spirit though not in letter represented our ideas, had forty-two members in the House of Commons under the Coalition. Mr. Arthur Henderson, Chairman of the Parliamentary Party and a member of the Society, had become a Cabinet Minister. All this was sowing seed and cultivating the growing crop. Now in the spring of 1924 it may be said that we are beginning to reap the harvest.