siness men "on the
make," than of the nation as a whole. His diplomacy is largely aimed to
move the "honest" large capitalists. These are assured that the only
form of privilege that Mr. Wilson, representing the smaller business
men, those "on the make," is attacking, is their freedom from political
and government control. But the large capitalists need not fear such
control, for they are assured that they themselves will be part of the
new government. And as there is no fundamental "difference of
interests," the new government will have no difficulty in representing
large business as well as small.

No better example could be found of the foreshadowed treaty between the
large interests and the whole body of capitalists, and their coming
consolidation, than the central banking association project now before
Congress. Originated by the "Interests" it was again and again moderated
to avoid the hostility of the smaller capitalists, until progressives
like Mr. Wilson are evidently getting ready to propose still further
modifications that will make it entirely acceptable to the latter class.
Already Mr. Aldrich has consented that the "State" banks, which
represent chiefly the smaller capitalists, should be included in the
Reserve Association, and that the President should appoint its governor
and deputy governor. Doubtless Congress will insist on a still greater
representation of the government on the central board.

Mr. Wilson emphasizes the need of action in this direction in the name
of "economic freedom," which can only mean equal financial facilities
and the indirect loan of the government's credit to all capitalists,
through means of a government under their common control:--

"The great monopoly in this country is the money monopoly. So long
as that exists, our old variety and freedom and individual energy
of development are out of the question. A great industrial nation
is controlled by its system of credit. Our system of credit is
concentrated. _The growth of the nation, therefore, and all our
activities are in the hands of a few men_ who, even if their action
be honest and intended for the public interest, are necessarily
concentrated upon the great undertakings in which their own money
is involved, and who necessarily by every reason of their own
limitations, chill and check and destroy genuine economic freedom.
This is the greatest question of all, and to