Circulation and advertising revenue (the advertiser provides the real profits) are the twin gods of the Dictators, as the reduction of expenditure is their prophet. Thinking in terms of millions, they are temperamentally incapable of realising the influence of journals appealing only to thousands, just as they conceive influence to be synonymous with circulation, although some of the “best sellers” among our daily and Sunday papers are singularly destitute of any real influence over the drugged minds of their readers. So there is scope for the re-emergence of the independent organ of the type which has demonstrated in the past that great influence may go hand in hand with small circulation and an inconsiderable revenue from drapery advertisements, provided that its conductors are informed with sincerity, fearlessness, and ideals, and refuse to regard the shibboleths of the minute as divine revelations. And if such a Press do not emerge from behind the smoke screen and the poison gas ejected by Stentor, then Democracy will have the newspapers it deserves. Let it be emphasised that the objections on public grounds to the Trustification of the Press are based even more on the future than on present conditions. The Dictators of to-day may be high-souled patriots, men of vision, men alive to the measure of their responsibilities. The Dictators of to-morrow may be mercenary profit-seekers, reactionaries, men who use their newspapers as weapons in the fight against decent housing or fair wages, or who bring up their battalions in aid of campaigns to starve education or foment war. There is nothing to prevent the Press of this or any other country from coming under the financial control of armament makers, international traffickers in drugs, or wealthy men who desire the perpetuation of the slum. There is nothing to prevent its domination by aliens or the worst type of “market-rigging” financier. That is to say, there is nothing save public opinion, which is itself hamstrung by the passing of the Independent Press. _APPENDIX_ The growth of the Newspaper Combine has become so complex, with its interlocking directorates and the holdings of one company in another, that details would weary the reader. But in order that he may understand the process, the following is given as a typical example.