The daily journal. (Salem, Or.) 1899-1903, 1902-12-17
GREAT
LABOR
SPEECH
Made by the Veteran
GaluSha Grow
An Analysis of the Rights of
Labor
Discussion of the Theories of
Profit Sharing


December 10th.)
Mr. Chairman, the President in his
message says:
Organized capital and organized Ia,
Dor alike should remember that in the
long run the interest of each must be
brought into harmony with the inter.
est Of the general public.
This declaration involves the cues.
tion of the true relation Of labor to
capital.
OF all the baneful influences which
lead to national decay, the most per-
nicious is a policy that degrades or
impoverishes labor The real
strength of nation consists not alone
in fleets and armies but in the manly
spirit OF an Independent yoemanry
and in the intelligence, comfort and
happiness Of its laborlng people.
OF all Industrial questions, the one
that most directly affects the general
welfare is the relation of American
labor to capital. In the prosecution
OF business Of any magnitude three
things are necessary-capital, super
vision and labor. For success wise
supervision is quite as important as
either Without capital and wise sup.
ervision It would be impossible for
labor alone to accomplish any great
result Yet labor, whether of brain
or muscle, is entitled to receive out
of the accumulations of wealth in
proportion to what it contributes to-
ward the accumulation. While this
theory is just, the difficulty in re-
ducing It to practice is to devise
method by which It could
be done.
Copartnerships in all cases are
based on the principle that whoever
shares In net profits must in the same
proportion be responsible for losses.
But profit or loss in a business can
not be ascertained until after the ex.
piratlon Of a period in the business.
Yet labor must be paid in current
expenses whether there is any net
profit or not Reliable statistics
show that a large percentage OF oil
kinds OF business ends I'm bankruptcy, !
thus sinking the amount of capital in.
vested. In such cases Il is clear that |
labor receives all that II could possibly |
be entitled TO under any theory or
profit sharing As wages are paid in |
current expenses, and capital takes all
risk of losses, some method ought TO
be provided for the repayment OF the
capital invested Even In successful
business there would be no additional
accumulation Of capital until the
money already invested should be re-
paid.
Copartnership between the owner OF
the capital In any business and its
aborers would not be practicable, for
The risk OF losses and investment OF
money would all be on one side with
out investment or responsibility on the
1ther Incorporation OF associations
If laborers could not change these
conditions. Incorporating individuals
,r associations without capital would
,e a mere fiction of law, like John
Doe and Richard Roe in legal pro
,eedings. Business can not be pros
'cuted successfully on mere legal
ictltions. Therefore corporations or
for business must be-
,ased on actual capital.
To work is a right OF every self
law-abiding person under
my form OF government and the
Iighest duty of free government is
o protect individuals in this right
70 invest money or not To invest is
he right OF the owner of capital. But
whenever II is invested in business
n any lawful pursuit 1t is entitled
0 the protection OF law the same as
abor is entitled TO protection for It's
lights.
Law can not create or compel the
Investment OF capital any more than
,an oop,nal IahoT IN work outside {