CHAPTEK II
Before 1870 different parts of the small continentof Europe had specialised in their own products;but, taken as a whole, it was substantially self-sub-sistent. And its population was adjusted to thisstate of affairs.
After 1870 there was developed on a large scalean unprecedented situation, and the economic condi-tion of Europe became during the next fifty yearsunstable and peculiar. The pressure of populationon food, which had already been balanced by theaccessibility of supplies from America , became forthe first time in recorded history definitely reversed.As numbers increased, food was actually easier tosecure. Larger proportional returns from an in-creasing scale of production became true of agri-culture as well as industry. With the growth ofthe European population there were more emigrantson the one hand to till the soil of the new countries,and, on the other, more workmen were available inEurope to prepare the industrial products and capital
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