They have not, except in certain exceptional cases, suppressed competition; but they have regulated it; and it should be the effort of all civilized societies to substitute cooeperative for competitive methods, wherever cooeperation can prove its efficiency.

Deliberately to undo this work of industrial and commercial organization would constitute a logical application of the principle of equal rights, but it would also constitute a step backward in the process of economic and social advance.

The process of industrial organization should be allowed to work itself out.

Whenever the smaller competitor of the large corporation is unable to keep his head above water with his own exertions, he should be allowed to drown.

That the smaller business man will entirely be displaced by the large corporation is wholly improbable.