In attempting to control monopolies which are not dependent on natural agents for their strength, we are met at once by the declaration that the government has no power or right to interfere with property which is the product of labor; and that the owner cannot be prevented from making such disposition of it as he chooses. The President and Counsel of the Sugar Trust said after Judge Barrett's decision was announced: "We do not believe that the law prevents two persons engaged in rivalry with each other from uniting their interests." This seems indeed true; and yet, on reflection, it appears to be absolutely certain that power must reside in the sovereign people to protect themselves from the unjust taxation which a monopoly may seek to enforce. Let us brush away cobwebs and set the facts clearly before us. That competition among producers is the sole present protection of the public against extortionate prices is undoubted. When by combination this defense is abolished, has not the public a right to adopt some other means of protection? There can be no doubt that it has; the only question is, what form should that protection take? It must be plain that, as a general rule, it is unfitting that government should own and operate industrial establishments. Practical experience has indicated that this experiment is wellnigh certain to result in failure, for reasons so evident as to require no mention here. The only alternative remaining is government regulation with private ownership and management. The essential features in the adoption of any plan should be that the returns of the private owner should be in proportion to the skill and economy which he exercises in managing his business; that competition and its resulting waste be done away with; and that the industry be placed on such a safe and stable basis that the capital invested in it shall receive the lowest possible rate of interest, thus leaving the greatest possible amount for the payment of wages of labor and permitting sales of the product at a low price. XVI. PRACTICAL PLANS FOR THE CONTROL OF MONOPOLIES. The investigation of the preceding chapters, leading up to the final conclusion that the proper and only wise remedy for the evils of monopoly lies in direct action of the government to protect the rights of the people, finishes the chain of our argument and really accomplishes the work laid out in the opening chapter. The laws which we have found to govern competition in modern industry are so far-reaching in their effects, and their correct apprehension by the people at large is so important to the general welfare, that economists ought to unite in recognizing and teaching their truth, while all who desire to work for the alleviation of present crying evils of society should understand these laws and be guided by them.