Moreover, where there is absolute lawlessness, absolute failure by the State to control or supervise these great corporations, the inevitable result is to favor, among these very able men of business, the man who is unscrupulous and cunning. The unscrupulous big man who gets complete control of a given forest tract, or of a network of railways which alone give access to a certain region, or who, in combination with his fellows, acquires control of a certain industry, may crush out in the great mass of citizens affected all individual initiative quite as much as it would be crushed out by State control. The very reason why we object to State ownership, that it puts a stop to individual initiative and to the healthy development of personal responsibility, is the reason why we object to an unsupervised, unchecked monopolistic control in private hands. We urge control and supervision by the Nation as an antidote to the movement for State Socialism. Those who advocate total lack of regulation, those who advocate lawlessness in the business world, themselves give the strongest impulse to what I believe would be the deadening movement towards State Socialism. There must be law to control the big men, and therefore especially the big corporations, in the industrial world, in the interest of our industrial democracy of to-day. This law must be efficient, and therefore it must be administered by executive officers, and not by lawsuits in the courts. If this is not done, the agitation to increase out of all measure the share of the Government in this work will receive an enormous impetus. The movement for Government control of the great business corporations is no more a movement against liberty than a movement to put a stop to violence is a movement against liberty. On the contrary, in each case alike it is a movement for liberty; in the one case a movement on behalf of the hard-working man of small means, just as in the other case it is a movement on behalf of the peaceable citizen who does not wish a “liberty” which puts him at the mercy of any rowdy who is stronger than he is. The huge irresponsible corporation which demands liberty from the supervision of Government agents stands on the same ground as the less dangerous criminal of the streets who wishes liberty from police interference.