What I contend is that the democratic system of government would be saner and more effective in its dealings with capital if it ceased to regard all capitalists as criminals _ipso facto_, and thereby ceased to make their armed pursuit the chief end of practical politics—if it gave over this vain effort to put them down by force, and tried to bring them to decency by giving greater play and confidence to the pride of workmanship that I have described. They would be less ferocious and immoderate, I think, if they were treated with less hostility, and put more upon their conscience and honor. No doubt the average democrat, brought up upon the prevailing superstitions and prejudices of his faith, will deny at once that they are actually capable of conscience or honor, or that they have any recognizable pride of workmanship. Well, let him deny it. He will make precisely the same denial with respect to kings. Nevertheless, it must be plain to every one who has read history attentively that the majority of the kings of the past, even when no criticism could reach them, showed a very great pride of workmanship—that they tried to be good kings even when it was easier to be bad ones. The same thing is true of the majority of capitalists—the kings of to-day. They are criminals by our democratic law, but their criminality is chiefly artificial and theoretical, like that of a bootlegger. If it were abolished by repealing the laws which create it—if it became legally just as virtuous to organize and operate a great industrial corporation, or to combine and rehabilitate railroads, or to finance any other such transactions as it is to organize a trades-union, a _Bauverein_, or a lodge of Odd Fellows—then I believe that capitalists would forthwith abandon a great deal of the scoundrelism which now marks their proceedings, that they could be trusted to police their order at least as vigilantly as physicians or lawyers police theirs, and that the activities of those members of it who showed no pride of workmanship at all would be effectively curbed.