ABSTRACT
The theory of laisser-faire was it is true in harmony with the general philosophical views of the period, but Englishmen have always been swayed more by practical considerations of the moment than by philosophical harmonies. It was the actual success of private enterprise and the inefficiency and corruption of Government control that caused laisser-faire to be an acceptable policy. The doctrine of laisser-faire and individualism was also in harmony with the general economic conditions of the country. The Government was engaged in a long and costly war, financed with the aid of the private enterprise of the banks and the stockbrokers. If success crowned some of the military and naval efforts, he knew it was mainly due to the exertions of individuals of force and character, who were generally engaged in a heart-breaking struggle with the inefficient bureaucracy.
