"Those who believe that the right is sure of ultimate triumph will watch the struggle in Germany and profit by the lessons taught. I am inclined to believe that political considerations are so mingled with economic theories that it is difficult as yet to know just what proportion of the three million socialist voters believe in "the government ownership and operation of all the means of production and distribution." The old age pension act was given as a sop to the socialists, but it strengthened rather than weakened their contentions and their party. It remains to be seen whether the new concessions which they seem likely to secure will still further augment their strength. The Germans are a studious and a thoughtful people and just now they are absorbed in the consideration of the aims and methods of the socialist movement (mingled with a greater or less amount of governmental reform), and the world awaits their verdict with deep interest."