20 
TRANSACTIONS OF THE TEXAS ACADEMY OF SCIENCE. 
these unhappy occurrences have been used as an ammunition in the as- 
saults of socialism \ipon the existing economic system. 
Communism will always he the dream of the idealist and perfectionist, 
and is now. Its most formidable weapons are the misdeeds of mankind, 
and political economy can not always afford to ignore them, for it is sci- 
ence and not romance. It must treat its facts fairly and justly and let 
the logical outcome take care of itself. This is always the safest and best 
course; in fact, is the only proper course. After these facts are duly 
weighed, they are seen to constitute- no impeachment of the existing sys- 
tem, and the use which communism makes of them is but special plead- 
ing. 
THE SUMMING UP. 
And now, let us sum up. The 4 concentrations of capital which we have 
seen and still see going on in certain fields of capitalized industry are in 
the main normal evolutions growing out of the wonderful material pro- 
gress which the world is now making in the arts of production, trans- 
portation and distribution. This tendency does not extend to all lines of 
industry, but only to those in which such concentration is really effective 
in increasing products and widening their distribution throughout the 
community. And so far, they are beneficial to the community. 
They have increased the abundance of needful things for all men, 
and have lightened the struggle for subsistence , and have raised 
the scale of living among all classes. But in this development unusual 
opportunities have been opened up for highly objectionable and perni- 
cious practices with respect to large masses of capital which call for severe 
condemnation and for remedy. And these opportunities have been seized 
by reckless men, to the injury alike of the common welfare and of the 
rights and property of other people of whom they have been the agents. 
The ease with which these practices have been carried out is due in a 
great measure to the inadequate definition of the limits of corporate 
power, and also to the lack of sufficient guarantees of the fidelity of cor- 
porate agents to the trusts with which they are charged. This must indi- 
cate the general direction which legislative measures may take with the 
expectation of remedy. But what specific measures should be taken is 
the province of the, ; jurist and the prudent legislator. If a high order of 
honesty and justice can be reasonably well secured in the management 
of concentrated capital, and reasonably well guaranteed by law, and dere- 
lictions be made penal, the concentration may be safely left to take care 
of itself. It will then never concentrate, unless there is great advantage 
to the community in doing so. But sound morals and sound political 
economy must ever go hand in hand. 
