These considerations did not make us overlook the folly of premature attempts to dispense with the inducements of private interest in social affairs, while no substitute for them has been or can be provided: but we regarded all existing institutions and social arrangements as being (in a phrase I once heard from Austin) "merely provisional," and we welcomed with the greatest pleasure and interest all socialistic experiments by select individuals (such as the Co-operative Societies), which, whether they succeeded or failed, could not but operate as a most useful education of those who took part in them, by cultivating their capacity of acting upon motives pointing directly to the general good, or making them aware of the defects which render them and others incapable of doing so.

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "These considerations did not make us overlook the folly of premature attempts to dispense with the inducements of private interest in social affairs, while no substitute for them has been or can be provided: but we regarded all existing institutions and social arrangements as being (in a phrase I once heard from Austin) "merely provisional," and we welcomed with the greatest pleasure and interest all socialistic experiments by select individuals (such as the Co-operative Societies), which, whether they succeeded or failed, could not but operate as a most useful education of those who took part in them, by cultivating their capacity of acting upon motives pointing directly to the general good, or making them aware of the defects which render them and others incapable of doing so." in the context of "(pp. 233-234)" to mean that wisdom is timeless.