The labor world. [volume] (Duluth, Minn.) 1896-current, 1902-12-27
IGNORANCE Of
WALL STREET
DISLIAES ATTEMPT TO ENFORCE
ANTITRUST LAW.
1t Would Destroy Trade IniOns-One
Would Think Tint 1t Would
Adopt II Liberal Policy Towards
ORGANIZATIONS OF LnbOr-Rcviev
of Reviews Comment on Coal
Strike-SOmcthins on the Inside.

The ignorance :f ETHl' Street touch
the personality of labor leaders, the
aims Of trade unionisln, and the ordi-
nary working in the labor market Of
the law Of supply and demand. is
greater than is commonly believed.
Wall Street very much breads and dis
likes what it calls harsh and inGjs-
criminate attempt at the enforcement
Of the antitrust laws; Vet it has been
INDUCING in the fantastic dream that
with its new and experimental weapons
of industrial combination, it could at
once go forth and destroy so firmly
established a force as trade unionism.
1t would seem clear to the most or
binary intelligence that the one indis-
pensable policy for Wall Street to
adopt was that of librrality toward
labor and large announcement to trade
unionism. Trust methods make it
easily possible for industries to pay
good wages and keep the peace with
their men; and thereby they strengthen
themselves a a thousand points. COL
lective bargaining" made possible by
.
ca pitulistic combinations, and Of trade
unions on the other side, affords the
easiest and best attainuble method by
which the trust magnates can keep
clear of labor troubles, and carry on
their affairs profitably and safely. To
many thoughtful observers Of this
strike in it's successive phases, the most
painful and the most disquieting thing
of all, therefore, was the revelation it
gave OF the short-sightedness OF a
group of employers who were risking
everything they had to fight desperate
ly against the very methods Of dealing
with their labor problems that would
have been most beneficial to them
selves. The worst Of it was they
thought their Ignorance wisdom of
their own friends who really knew.
There We're individual men in Wall
Street who would have arrived at wise
conclusions; but they were not given
the full opportunity.
Thus the final concessions were
coaxed out of the operators at the last
moment by Geo. w. Perkins of Mr..
Morgan's firm: and there had never
been tire for eighteen months or two
wears w,:..n, if Mr.. Perkins had been
authoriz, d to act for the capitalists DIS
Mr.. Mitchell was acting for the labor
ers, the situation could not been
promptly harmonized to the perman-
ent. as we'll as the temporary, adVant-
age of everybody concerned. He UNDER
stands that capital and labor should be
Joint industrial forces: that one needs
the other. that it is good for the coun-
FRY that both should be prosperous i:
and that it is Just as fair for one as
for the other to be organized, and to
deal Through accredited representa-
tives. He can grasp the essential prln-
ciples, and he is practical. 1t was not
men Of Mr.. Perkins type who ever
s,,nnosed that the circulation of petty
ISLANDERS about John Mitchell WOULD
he1p to settle the anthracite deadlock.
rrgannzed labor certainly needs honest
and upright leadership; and fortunately
in men like John Mitchell, and like Mr..
Clark Of the Railway Conductors
p, esident Roosevelt has selected as a
member Of the arbitration board
American trade uniolisln today has Il
number of men Who lead wisely and
intelligently. But on the other hand,
the vast aggrega tons Of organize CAPT.
tai also need wise leadership, and they
cannot we'll endure many shocks Of
confidence as this anthracite trouble
has produced-RevieW of Reviews.