wondered lately to see a corporation formed which had a capital of a billion. No one will wonder at such a corporation twenty-five years hence.
There seems to be a great readiness in the public mind to take alarm at these phenomena of growth — there might rather seem to be reason for public congratulation. We want to be provided with things abundantly and cheaply; that means that we want increased economic power. All these enterprises are efforts to satisfy that want, and they promise to do it. The public seems to turn especially to the politician to preserve it from the captain of industry; but when has anybody ever seen a politician who was a match for a captain of industry? One of the latest phenomena is a competition of the legislatures of several states for the profit of granting acts of incorporation; this competition consists, of course, in granting greater and greater powers and exacting less and less responsibility.
It is not my duty in this place to make a judicial statement of the good and ill of the facts I mention — I leave to others to suggest the limitations and safeguards which are required. It is enough to say here that of course all power is liable to abuse; if anybody is dreaming about a millennial state of society in which all energy will be free, yet fully controlled by paradisaic virtue, argument with him is vain. If we want results we must get control of adequate power, and we must learn to use it with safeguards. If we want to make tunnels, and to make them rapidly, we have to concentrate supplies of dynamite; danger results; we minimize it, but we never get rid of it. In late years our streets have been filled with power-driven cars and vehicles; the risk and danger of going on the streets has been very greatly increased; the danger is licensed by
