THE THEORY OF MODERN WELFARE 265
line of industrial business comes to stand in relar lively intimate relations to an ever increasing range of other lines with which it carries on a traffic of purchase or sale. A consequence of this state of things is that any business coalition, in order effectually to serve its purpose of maintaining earnings and capitalization, is required to be of larger scope and closer texture. As the exigencies which enforce the resort to coalition uninterruptedly gain in scope and urgency, the " trust " must take the same course of growth to meet these exigencies ; until, with some slight further advance along the accustomed lines, the trust which shall serve the modern business situation must comprehend in one close business coalition virtually the whole field of industry within which the machine process is the dominant industrial factor'
To this there is a broad exception, given by the circumstances of the industrial organization. This organization rests on the distinction between business management and ownership. The workmen do not and cannot own or direct the industrial equipment and processe-s, so long as ownership prevails and industry is to be managed on business principles. The labor supply, or the working population, can therefore not be included in the ideally
1 It is, e.g.^ already apparent thai tbe general railway system of America must pTeiteiiUy come under one manage meat, and it moat tall InUi a coalition nlth the groap of industries tbat are ooaapltd with the supply and elaboration ul iron, coal, and lumbar.