The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-07-21
Labor and Capital.

Labor and Capital" is the title of book
which has a somewhat remarkable origin
During the summer of 1901, when the Steel
Corporation was engaged in a struggle
with the Amalgamated Association of Iron
and Steel Workers. Bishop Potter saw in
the conflict so great a danger that he wrote
the publisher of the New York Journal a
letter suggesting the publication of the
views of a group of men who would dis
cuss the whole range of subjects con-
nected with labor, capital and production.
In his letter Bishop Potter asks the editor
of the New York paper if it would not be
better for the press to try to educate the
ignorant to some intelligent understanding
of social problems rather than to lend it
self. as it is constantly doing, to the in
flaming of class hatreds Possibly the
good bishop and the other well-meaning
men whom he engaged with him in the
work fiattered themselves that II they
could induce the one publisher in the coun-
try who is doing most to inf1ame class
hatreds TO take up this work in his three
newspapers he would drop the vocation OF
Notwithstanding If they had such hope
they must feel that it has failed.
In accordance with this plan Rev. DIR.
Vited a large number of men to contribute
articles for the New York Journal the
most of which are embraced in this vol
ume entitled Labor and Capital" The
really valuable portions of the book are
the contributions by employers and en-
ployes or men who have had practical eX
perience with some phase of industry.
The portion of the work given up to the
views of professional economists and re-
formers is, for the most part, of no value.
The wonder is that they were permitted to
their impracticable ideas. The general
question to which all of the articles in the
book indirect answer is: How shall
labor and capital be reconc!led? In this
discussion trusts labor unions and arbi-
tration take prominent place, particularly
the last-named. In summing up, the editor
of the volume, the Rev. DR.. Peters, says
that trusts are not now viewed with the
alarm which they caused two years ago,
because of intelligent discussion. The opin-
ion of the contributors to the discussion is
decidedly in favor OF the organization of
labor, even the writer's representing the
capital side of the question holding this
view. The criticism is that the organiza-
tons among the less skilled classes OF Ia
borers are harmful through the rashness of
leaders. The discussion does not favor
compulsory arbitration, though Colonel
Wright, of the National Labor Bureau, eX-
presses the opinion that some form of it
might be employed in railroad troubles
which interrupt transportation. The gen
eral tenor of the opinions is in favor of
boards of Cancellation and arbitration
which shall go further than the present
boards by having disputes referred 10 out
side umplreS or arbitrat tors. II may be
said that this movement of Bishop Potter
had much to do with the organization Of
the National Civic Federation, of which
Senator Hanna is the president.
The defect of the book is that Socialists,
single-tax advocates and other faddists
have been permitted to occupy much space,
thus giving the impression that anything
they can have TO say has a bearing upon
the conditions OF capital and labor. Why
should absurd essays declaring that the
tax on an acre of land in the heart of New
| York city should be the same as an acre
| in the remotest part of the country be in
/ jected into any serious discussion of live
problems by intelligent men, or why should
the visionary scheme of having great in
/ dustries run by the government be allowed
/ space among the opinions of practical men?
/ Why is such an ignOramuS as the man who
/ declares that the Wing party gave us
/ Missouri compromises and bred Scott de-
/ cisions" allowed to thrust himself into
| a discussion which should deal with facts
| and accurate information? Published by
| @. 2. Putnam's Sons. New York.