That a significant change of heart and mind has begun to take place amongst capitalists, that the nucleus of a “public opinion” has been formed within an element which, by the use and wont of business and habits of thought might be regarded as least subject to the influence of social ideas, is a most hopeful augury.  This nascent opinion has begun to operate by shaming unscrupulous and recalcitrant employers into better practices.  It would indeed fare ill with democracy if, in such an era, men of large business proved to be lacking in democratic initiative, wholly unreceptive and hostile to the gradual introduction of democracy into industry, which means the perpetuation of the American Idea.  Fortunately, with us, this capitalistic element is of comparatively recent growth, the majority of its members are essentially Americans; they have risen from small beginnings, and are responsive to a democratic appeal—­if that appeal be properly presented.  And, as a matter of fact, for many years a leaven had been at work among them; the truth has been brought home to them that the mere acquisition of wealth brings neither happiness nor self-realization; they have lavished their money on hospitals and universities, clinics, foundations for scientific research, and other gifts of inestimable benefit to the nation and mankind.  Although the munificence was on a Medicean scale, this private charity was in accord with the older conception of democracy, and paved the way for a new order.

The patriotic and humanitarian motive aroused by the war greatly accelerated the socializing transformation of the business man and the capitalist.  We have, indeed, our profiteers seeking short cuts to luxury and wealth; but those happily most representative of American affairs, including the creative administrators, hastened to Washington with a willingness to accept any position in which they might be useful, and in numerous instances placed at the disposal of the government the manufacturing establishments which, by industry and ability, they themselves had built up.  That in thus surrendering the properties for which they were largely responsible they hoped at the conclusion of peace to see restored the ‘status quo ante’ should not be held against them.  Some are now beginning to surmise that a complete restoration is impossible; and as a result of their socializing experience, are even wondering whether it is desirable.  These are beginning to perceive that the national and international organizations in the course of construction to meet the demands of the world conflict must form the model for a future social structure; that the unprecedented pressure caused by the cataclysm is compelling a recrystallization of society in which there must be fewer misfits, in which many more individuals than formerly shall find public or semi-public tasks in accordance with their gifts and abilities.