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In practice he had at first, with Proudhon, been captured by the chimera of a mutual credit, a vast bank of exchange which suppressed middlemen; then Lassalle's cooperative societies, endowed by the State, gradually transforming the earth into a single industrial town, had aroused his enthusiasm until he grew disgusted in face of the difficulty of controlling them; and he had arrived recently at collectivism, demanding that all the instruments of production should be restored to the community.
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