This organic conception of society, the only vital conception, combines a noble humanism with the genuine Christian spirit, and it bears the inscription from Holy Writ which St. Thomas has explained: "The work of justice shall be peace"; a text applicable to the life of a people whether it be considered in itself or in its relations with other nations.

In the first place, it is obvious that not only is wealth concentrated in our times but an immense power and despotic economic dictatorship is consolidated in the hands of a few, who often are not owners but only the trustees and managing directors of invested funds which they administer according to their own arbitrary will and pleasure. This dictatorship is being most forcibly exercised by those who, since they hold the money and completely control it, control credit also and rule the lending of money.

Justice requires that to lawfully constituted Authority there be given that respect and obedience which is its due; that the laws which are made shall be in wise conformity with the common good; and that, as a matter of conscience all men shall render obedience to these laws.

The ultimate consequences of the individualist spirit in economic life are those which you yourselves, Venerable Brethren and Beloved Children, see and deplore: Free competition has destroyed itself; economic dictatorship has supplanted the free market; unbridled ambition for power has likewise succeeded greed for gain; all economic life has become tragically hard, inexorable, and cruel.

These principles with due regard to time and place, must, in accordance with Christian prudence, be applied to all schools, particularly in the most delicate and decisive period of formation, that, namely, of adolescence; and in gymnastic exercises and deportment special care must be had of Christian modesty in young women and girls which is so gravely impaired by any kind of exhibition in public.

When once men recognize, both in private and in public life, that Christ is King, society will at last receive the great blessings of real liberty, well-ordered discipline, peace and harmony.

This power becomes particularly irresistible when exercised by those who, because they hold and control money, are able also to govern credit and determine its allotment, for that reason supplying, so to speak, the lifeblood to the entire economic body, and grasping, as it were, in their hands the very soul of production, so that no one dare breathe against their will.