odd years before they had assumed the conduct of their own
government, organizing now for industrial purposes on precisely
the same grounds that they had then organized for political
purposes. At last, strangely late in the world's history, the obvious
fact was perceived that no business is so essentially the
public business as the industry and commerce on which the
people's livelihood depends, and that to entrust it to private
persons to be managed for private profit is a folly similar in kind,
though vastly greater in magnitude, to that of surrendering the
functions of political government to kings and nobles to be
conducted for their personal glorification."

"Such a stupendous change as you describe," said I, "did not,
of course, take place without great bloodshed and terrible
convulsions."

"On the contrary," replied Dr. Leete, "there was absolutely no
violence. The change had been long foreseen. Public opinion
had become fully ripe for it, and the whole mass of the people
was behind it. There was no more possibility of opposing it by
force than by argument. On the other hand the popular sentiment
toward the great corporations and those identified with
them had ceased to be one of bitterness, as they came to realize
their necessity as a link, a transition phase, in the evolution of
the true industrial system. The most violent foes of the great
private monopolies were now forced to recognize how invaluable
and indispensable had been their office in educating the people
up to the point of assuming control of their own business. Fifty
years before, the consolidation of the industries of the country
under national control would have seemed a very daring experiment