taking advantage
of the necessities of the State, fix an increasing mortgage upon the
State and work perpetually for fluidity, anonymity, and
irresponsibility in their arrangements. It was in England, again, that
this began and vigorously began with what I think was the first true
"National Debt"; a product contemporary in its origins with industrial
Capitalism.

Another was that curious and certainly ephemeral vagary of the human
mind which has appeared before now in human history, which is called
"Sophistry," and which consists in making up "systems" to explain the
world; in contrast with Philosophy which aims at the answering of
questions, the solution of problems and the final establishment of the
truth.

But most interesting of all just now, though but a minor fruit, is the
thing called "The Press." It also began to arise contemporaneously
with Capitalism and Finance: it has grown with them and served them.
It came to the height of its power at the same modern moment as did
they.

Let us consider what exactly it means: then we shall the better
understand what its development has been.

II

"The Press" means (for the purpose of such an examination) the
dissemination by frequently and regularly printed sheets (commonly
daily sheets) of (1) news and (2) suggested ideas.

These two things are quite distinct in character and should be
regarded separately, though they merge in this: that false ideas are
suggested by false news and especially by news which is false through
suppression.

First, of News:--

News, that is, information with regard to those things which affect us
but which are not within our own immediate view, is necessary to the
life of the State.

The obvious, the extremely cheap, the _universal_ means of propagating
it, is by word of mouth.

A man has seen a thing; many men have seen a thing. They testify to
that thing, and others who have heard them repeat their testimony. The
Press thrust into the midst of this natural system (which is still
that upon which all reasonable men act, whenever they can, in matters
most nearly concerning them) two novel features, both of them
exceedingly corrupting. In the first place, it gave to the printed
words a _rapidity of extension_ with which repeated spoken words could
not compete. In the second place, it gave them a _mechanical
similarity_ which was the very opposite to the marks of healthy human
news.

I would particularly insist upon this