The Knights demanded government ownership of the systems of transportation and communication, but the new Federation did not. Nor did the Federation accept the monetary program of the Knights of Labor, indicating that it definitely regarded the industrial capitalist rather than the banker as the chief enemy of the wage-earners, and—unlike the Knights—had pretty nearly rid itself of the belief in financial panaceas... the Federation made no reference to producers or consumers co-operatives, and failed to recommend compulsory arbitration which the Knights supported...