Its object would be to give these somewhat novel industrial agents a more prolonged and thorough test than any they have yet received.

If they survived for some generations and increased in efficiency and strength, it could only be because the advantages they enjoyed in the way of natural resources, abundant capital, organization, terminals, and responsible management were decisive and permanent; and in that case the responsibility of the state could not be limited to their automatic regulation and partial assimilation.

A policy must be adopted of converting them into express economic agents of the whole community, and of gradually appropriating for the benefit of the community the substantial economic advantages which these corporations had succeeded in acquiring.

Just in so far, that is, as a monopoly or a semi-monopoly succeeded in surviving and growing, it would partake of the character of a natural monopoly, and would be in a position to profit beyond its deserts from the growth of the community.

In that event a community which had any idea of making economic responsibility commensurate with power would be obliged to adopt a policy of gradual appropriation.
The public service corporations in the large cities have already reached the stage of being recognized natural monopolies.