[Note: this pre-1923 publication has been converted from its original source and may contain typographical or formatting defects from the conversion process or from the original source.]About the author: Sumner was a staunch advocate of laissez-faire economics, as well as "a forthright proponent of free trade and the gold standard and a foe of socialism."[1] Sumner was active in the intellectual promotion of free-trade classical liberalism, and in his heyday and after there were Sumner Clubs here and there. He heavily criticized state socialism/state communism.