Cedar Falls gazette. [volume] (Cedar Falls, Iowa) 1860-1895, 1871-12-15
Capital and Labor.

Horace Greeley whose writings are
as good as those of a poor country
editor, when they talk sense, dis
cusses the great and we may say the
leading question of the day, capital
and labor, in Woods Household
Magazine for November.
His definition of capital is that
portion of tie product of labor
which remains unconsumed when
the work is completed. This seems
to hit it squarely. He who works
for his wages and lives up to his in
come accumulates no capital.
He takes the ground that those
who live in severe climates and
among crowded populations ; must
inevitably perish but for the capital
accumulated and this is why the
strikes which are a war of labor on
capital reduces many times the thrift
~ 10 want.
Mr.. Greeley lays down the truth
full proposition that multitudes of la
borers lack thrift, energy and enter
prise, and are therefore destitute of
capital. The solution to the way
out of this difficulty 10 implied in the
demand that labor be paid for what
it is worth. If A. is an efficient
workman and eafns two dollars for
his employer while B. earns one let
A. be paid the two dollars. When a
man pleads the largeness of his FAM
lily as a reason why he should have
large wages he degrades labor. A
mar Is entitled to as much as he
earns, whether he has fourteen
children or none, or whether the
same be less than his needs. Mr..
Greeley would have laborers seek to
become employers. This advice
may be demanded in the overcrowd-
ed marts of New York City, but it
will not apply in the West. Here
faithfulnesS, energy, frugality and
good management do not go unre.
warded. 1t may not always be in q
man becoming an employer rather
than employee but the demand
among business men is for efficient
help. Labor in this case is a mans
capital.
Speaking however for the mass Of
laborers as are found in the large
cities: Mr.. Greeley recommends q
cooperative plan by which men
might become their own employers
He has found by inquiry that there
are millions of dollars deposited in
the savings banks of New York City
by the laboring men. He woulC
have this employed in carrying OF
branches of business.
Speaking for his theory Mr.. Gree
ley concludes:
Cooperation neither asserts nor i'm
plies that Labor Is inadequatelN
recompensed under the system ]
aims to supereede; nor does it i'm
ply the contrary. 1t does affirm tn,
right of every n to his due, ant
the advantage of harmonizing lh,
interest of Capitol and Labor. /
further affirms that the workman
will naturally be more industrious
faithful, provident, frugal, wheI
working in his own establishment
than If be were an employee of som,
one else. 1t asserts that the habij
of saving ought to be more generally
diffused and more carefully cher
ished than it now Is. 1t regards the
Wages system as tempting to i'm
providence and reckless expenditure
10y giving a man all his earnings in
cash, weekly or monthly, ard sup
plying him with no strong, palpablt
inducements TO save them. In co .op'
Grafton, the need constantly felt
of capital, more machinery
&C., would lead many unconsciously
to frugalities which the wages sys
tenn is not calculated To incite.