and to turn an oligarchy into a constitutional democratic federation [_i.e._ a federation composed of capitalists]." Mr.Roosevelt has announced a policy with regard to monopolies that foreshadows even more distinctly than anything Mr.Woodrow Wilson has said the solution of the differences between large and small capitalists.

He urges that a government commission should undertake "supervision, regulation, and control of these great corporations" even to the point of controlling "monopoly prices" and that this control should "indirectly or directly extend to dealing with all questions connected with their treatment of their employees, including the wages, the hours of labor, and the like."[34] This policy is in entire accord with the declarations of Andrew Carnegie, Daniel Guggenheim, Judge Gary, Samuel Untermeyer, Attorney-General Wickersham, and others of the large capitalists or those who stand close to them.

It is in equal accord with the declarations of _La Follette's Weekly_ and the leading "Insurgent" writers.
It is true that the private monopolies, as Mr.Bryan pointed out (_New York Times_, Nov.

19, 1911), "will soon be in national politics more actively than now, for they will feel it necessary to control Colonel Roosevelt's suggested commission, and to do that they must control the election of those who appoint the commission." But the private monopolies will soon be more actively in politics no matter what remedy is offered, even government ownership.

The small capitalist investors, shippers, and consumers of trust products can only protect themselves by securing control of the government, or at least sharing it on equal terms with the large capitalists.
The reason that Mr.Roosevelt's proposal was hailed with equal enthusiasm by the more far-sighted capitalists, whether radical or conservative, small or large, was that they have an approximately equal hope of controlling the government, or sharing in its control.