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,