The Union and journal., 1870-04-22
Capital and Labor.


In 1852 Hon. Edward Everett made n
speech at public dinner in Boston, In the
course of which he said:
ave hear occasionally Of tho supposed
antagonism of labor and capital. The dan
gcrous power Of what has been called tho
dynasty of accumulated wealth Is some
times spoken of in our political circles. 1t
wopld be too much TO contend that prop.
erty in masses Is never abused. Capital
and credit-as well rs tho want of both
arc subiebt To abuse; but Isee no reason in
the nature of things TO assume necessary
antagonism between labor and capital; on
the contrary. they seem to me tho most
faithful of allies and best of friends. l
think, too, have observed that those who
are loudest In their denunciations of the
dangers to be dreaded from accumulated
wealth confines their fears to their neigh
bors. They. are very apprchensive that
others may abuse the power which prop
crty is supposed to confer, while they pur.
sue with lardable sclf.rcliance. undisturbed
by theory, the acquisition of the shining
mischief. particularly when 1t comes In the
shape of q good salary.
Instead of considering accumulated cap
ital rs fraught with dangertO public liber-
ty, observation will, think, teach us tn
regard il not only rs an important instru-
mcnt of public and private prosperity, hut
rs q sure indication of q country governed
by law. What Is capitalr 1t is nothing
but the fruits OF labor saved, instead OF be-
Ing consumed from hand to mouth. 1t
will not accumulate to any great extent
where it is not protected by law. Look ut
the countries where capital does and those
where il does not abound. Compare Eng
land and the United States on the one hand
with Turkey and Persia on the othcr. The
worse governed country, tho poorer II
will be found. however rich in tine gift OF
nature. There will no doubt be some ac-
cumulation of capital in the worst govern
cd country. but II will he timid and fur
tive, and lose nearly all Its power to bene-
fit society by the necessity of seeking con-
ccalmcnt. There arc rich Jews at Bag
dad, and rich Arncnians mt Damascus; ;
but their wealth Is invested IN precious
stones and buried In cellars and cavcrns ;
while, from time to time, 1t Is extOrtcd
from its rightful posscssors under the tor
ture of the bastinado, inflicted by greedy
provincial s;,traps, in order TO furnish them
the mcaas of buying the favors of reniorse-
less Vizicrs and Sultans ut the scat of gov
ernment. How different the case in a free
country! There capital walks boldly
abroad; seeks investment; gives life TO
commerce, manufactures and the arts,
traverscs the land side by side with her
sister credit, scattering plenty by the way;
smites the everlasting hills with her mag
ic wand and bids their adamantine portals
fly open before the loaded train puts an
iron curb into the foaming jaws of Mag
ara, and throws bridge across its roaring
whirlpools; unitcs the Atlantic with tho
Pacific and Europe with America BY her
railroads and oceans steamers; and brings
the romotcst borlers Of the country into
living contact by hor electric telegraph.
But does it stop here? No. sir; IN u
free, prosperous country like that of our
respected guest and our own, 1t Is charac-
tcristic of capital that If II gathers largely
in, IL dispcnscs libcrally abroad. Who
is IL that takes the lead in every measure
of Christian charity and enlightened pub.
lie spirit? Our guest can answer Tor all
but himself i'm his own country; | may
ask YOU. sir. Ito Mr.. Appleton )with re-
spect tO this community. Or rather
will not ask you, sir, but almost any one
sooner, who Is it that builds the hospital,
endows the asylum, the house of refuge,
the college, the atheneum, gives sigh: to
the blind and hearing to the deaf. and
shelter to the hOuscless, and performs
the thousand other blessed offices of
opened handed and warm.hcarted Chris
tian love? Even II IL were otherwise,
from tho very nature of things there. can
be no antagonism between capital and
the other interests of society, for 1t seeks
of necessity those investments which pro-
mote the public accommodation and bon
eft. In country like England and
America tho owner of capital really
rcaps the smallest portion Of the advan-
tagcs which flow from It's possession; he
is but kind of book-keeper or chief
clerk to the business community. He
NAV bc rs rich rs Cresus, but he can
neither eat, drink nor wear more than
one mans portion. Tho houses and
warehouses. the ships and railroads which
nc builds or buys arc for the accommo-
dations of others-of the public. l re-
member hearing jest about Mr.. Astor's
property, which contained thought u
great deal of meaning, latent, practi-
cal. philosophy. Some one was asked
whether he would bc willing to take caro-
of all Mr.. Astor's property, eight or ten
millions of dollars, (and that we think n
great property, with You, sir, on tho 9TH
or side of the water. it would be q mere
flea bite,D merely for his board and
clothes. No. was the indignant answer; !;
do you think mo fool? Well rejoins
tho other, that is all that Mr.. Astor HIM
solf gets for taking care OF IL; he's found.
and that's all. Tho houses, tho ware
houses, the ships, the farms which he
counts by the hundred and Is obliged To
take care of, arc for the accommodation
of others But then he has the income,
tho rents of all this mighty property.
five or six hundred thousand dollars per
annuni.' Yes, but no can do nothing
with this income but build moro houses
and warehouses and ships, or loan more
money on mortgage for tho convenience
of others. He's found. and You can
make nothing else out Of it,"
uow poft1oo oro pnno nohf