The Scarlet Empire

The Scarlet Empire (1906) by David M. Parry is an anti-socialist dystopian novel set in a subterranean Atlantis discovered beneath the sea. The narrator, an American diver, descends into this underwater civilization and finds a society that has achieved complete material equality through the abolition of private property, the suppression of individual initiative, and the enforcement of absolute conformity. Parry, who was president of the National Association of Manufacturers, wrote the novel as an explicit political argument against socialism and the labor movement, and the underwater utopia functions throughout as a satirical portrait of collectivist ideology taken to its logical extreme. Illustrated by Hermann C. Wall. 

Hardcover. First Edition. Octavo, bound in red cloth stamped in black and gold. Indianapolis: The Bobbs-Merrill Company, 1906. Claeys, Dystopia: A Natural History, p.327. #11395.
Very good.