in social science, who are convinced that
the time has come when it is not only practicable but right, who realize
that a new era has dawned; to others who still believe in the old
system, who are trying to bolster it up by granting concessions, by
establishing committees of conference, by giving a voice and often a
financial interest, but not a vote, in the conduct of the corporation
concerned. These are the counterpart, in industry, of sovereigns whose
away has been absolute, whose intentions are good, but who hesitate,
often from conviction, to grant constitutions. Yet even these are
responding in some degree to social currents, though the aggressive
struggles of labour may have influenced them, and partially opened
their eyes. They are far better than their associates who still seek to
control the supplies of food and other necessities, whose efficiency is
still solely directed, not toward a social end, but toward the amassing
of large fortunes, and is therefore wasted so far as society is
concerned. They do not perceive that by seeking to control prices they
merely hasten the tendency of government control, for it is better to
have government regulation for the benefit of the many than proprietary
control, however efficient, for the benefit of the few.

That a significant change of heart and mind has begun to take place
amongst capitalists, that the nucleus of a "public opinion" has been
formed within an element which, by the use and wont of business and
habits of thought might be regarded as least subject to the influence of
social ideas, is a most hopeful augury. This nascent opinion has begun
to operate by shaming unscrupulous and recalcitrant employers into
better practices. It would indeed fare ill with democracy if, in such
an era, men of large business proved to be lacking in democratic
initiative, wholly unreceptive and hostile to the gradual introduction
of democracy into industry, which means the perpetuation of the
American Idea. Fortunately, with us, this capitalistic element is of
comparatively recent growth, the majority of its members are essentially
Americans; they have risen from small beginnings, and are responsive
to a democratic appeal--if that appeal be properly presented. And, as a
matter of fact, for many years a leaven had been at work among them; the
truth has been brought home to them that the mere acquisition of wealth
brings neither happiness nor self-realization; they have lavished their