The Birmingham age-herald., 1908-12-24
THE PROPER RELATION
 OF CAPITAL AND LABOR

forced causes-a waste, which, if it could be avoided, would add wonderfully to the happiness of the nation and enormously to it's wealth.
 For a colliery, a large business and quick profits should be sought. There are certain fixed charges which must be cared for, which high prices and insuf- ficient business cannot cover.
 The laborer has his fixed charges-rent, fuel, food, clothing, doctor, etc. Ab- normal wages may not meet these owing to a lack of sufficient employment. It is a rare condition where the laborer fully employed is not comparatively prosperous. There are, however, no items in his fixed charges greater than those due to idle ness, for in his case, well as in that of the capitalist, satan finds plenty of work for idle hands to do," and plenty of opportunities to exhaust his resources and increase his liabilities
 Capital is always abundant for profit able Investments Unfortunately the standard value of capital is fixed by se- curities which are supposed to be free of the risks which surround those de- pendent on trade and labor influences. large portion of these securities are the outgroWth of war and the destruction of wealth.
 The risks of trade and the accompany liiS ldDOT cause Cdplldl u expect a higher income from industrial in vestments, and failure from one cause or another to realize this is a constant check to that development of industry, which in perfect operation, would give steady employment to industries and la bor.
 Wages in this country far exceed those in other countries and we are proud of these conditions. For years we maintained 1.Yv.. -sf tically all of our industries are dependent, more or less, indirectly if not directly, upon the markets of the world for an outlet for the surplus products of our laber We are influenced in our costs of production by the labor of other coun- tries where we can neither control wages nor the laws regulating them. It, there fore, becomes constantly more important that we should have a fair days work for a fair days wage.
 The subject under discussion is a field too rich to be neglected by the politician and the demagogue who claim the title of Friend to the Workingman." They assume this title because there are more worlzngmen than capitalists who are voters. Through their efforts both capi- tai and labor suffer, for one cannot suffer alone, their interests being so in- terdependent.
 1DCIc dE6 CcIldln ldWS GSS6nlld1 lO lll0 protection of people which an experience of many centuries have determined Ex- periments in w-making are always dan gerous, especially in a country where the lawmakers know so little of the fun damental principles of law, and especially those natural laws which are essential to the successful operations of trade.
 We are now passing through a period Of acute business depression, and suffering alike to capital and labor, due more par ticularly to unwise, restrictive, and ex- cessive legislation than to any other causes.
 It should be the duty of this organiza- tion to join the laborer in energetically opposing all clap trap legislation and endeavor to show the laboring men that the burden of the unwise laws falls large ly on them, although directed at capital
 In closing this crude paper, I beg to say that the most important element in a successful business, whether it be a coal mine railroad iron works, or any other industrial operation, is the ability to command the entire confidence of the labor employed. Labor must be met in the spirit of the utmost frankness, truth and fair dealing. No manager can suc- ceed today unless he be the truly &C., knowledged "Friend of Labor," and has the confidence and good will of his em- ployes.
 Baltimore, Md, September 22, 1908.