On the whole, the tendency with increasing population is toward smaller farms with more intensive farming. Whether our country, with its stronger commercial energy, will follow this tendency as exhibited in northern Europe seems doubtful. It is not likely that we shall ever admit the legal restrictions under which division and subdivision have made their way in that region. The question will doubtless be settled by economic conditions independent of legislation. At present we are far from either extreme, as can be seen by reference to Chart No. I, p. 9. _Department stores._—Increasing application of the principles of aggregation is seen in the so-called department stores, which not only deal in everything but with everybody, extending their trade by mail over large territory. The very evident economy of such aggregation of capital for purposes of exchange appeals so directly to the customers as to make the sufferers in competition cry out in vain for restrictions. Such stores seem sure to maintain their advantage in exchange, except with reference to mere local distribution of every-day necessities and expert handling of specialties. The community does well to give attention not so much to restrictions upon this trade as to reduction of opportunity for abuse of power over the mass of employés under control. The great establishment will certainly bring more satisfactory conditions in time than the multitude of small ones beyond the reach of public inspection. _Trusts._—Of late years the advance of combination in so-called trusts has been enormous. The underlying principles of economy already illustrated furnish the occasion for such combinations, but the immediate advantage to promoters of such enterprises, because of the supposed power in control of the market, is found in the speculative interest in stocks. In this respect the multiplication of trusts will furnish the principal weapon against them. Yet the dangers to the industry of the country, as well as to the safety of exchanges, from such rapid consolidation of management are easily perceived. It is certainly necessary that responsibility for such enterprises be definitely fixed upon the share-holders. And it is more than probable that government inspection of such business may become as necessary as it now is of the banking systems of our country. Some students of the subject foresee a final assumption of absolute control by the government of all industrial enterprises as a result of this tendency to aggregation. The question cannot be discussed in this connection, since it involves a wider range of welfare than can be considered under production.