In the case of a luxury like tobacco, either a government monopoly might
be created, as has been already done so frequently abroad, or the state
might be satisfied with a sufficient share of the resulting profits. No
general rule can be laid down for such cases; and they will not come up
for serious consideration until the more fundamental question of the
railroads has been agitated to the point of compelling some kind of a
definite settlement.
This sketch of a constructive national policy in relation to
corporations need not be carried any further. Its purpose has been to
convert to the service of a national democratic economic system the
industrial organization which has gradually been built up in this
country; and to make this conversion, if possible, without impairing the
efficiency of the system, and without injuring individuals in any
unnecessary way. The attempt will be criticised, of course, as
absolutely destructive of American economic efficiency and as wickedly
unjust to individuals; and there will be, from the point of view of the
critics, some truth in the criticism.
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