The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1908-12-20
PROFIT SHARING BY THE UNITED
STATES STEEL COMPANY.


But while / gladly emphasize the
improvements which have been af-
fected. il is my opinion that there
should be higher goal for the future
! The magic of property must some
! how touch the unpropertied class.
: These must be not merely wage
= earners. they must also have a steak
in the community. The government.
: however. Is powerless 10 realize that
end. for the government merely
spends money. il does not create.
On the other hand this problem does
not seem 10 me beyond the POSSIBLE
ity of solution at the hands of the
great corporations OF our times. And
rejoice 10 say that a hopeful begin
ming has already been made. The
greatest and | suppose the best
managed OF all our corporations has
adopted the sagaeious policy of max
ing its workmen stock holders. 1t
may have been influenced in part,
perhaps in large part, by self interest,
for personal interest of officers and
employees in the work of an establish
ment is the best imaginable substitute
for individual ownership and control,
]
/ minated But if the Steel company
+ was moved by self regarding motive
! IL is likely also that it was influenced
! by some consideration OF the welfare
/ OF the men There is no need of
/ surprising that business men are
absolutely hairless and egotistic,
even in the pursuit OF profits. II is
not necessary, however. for me to
I
poration and 10 determine how much
weight should be given either TO ego
tism or To atruism when the scheme
OF profit sharing was adopted.
Whatever the motives the workmen
may now become owners of stock.
And in the year 1906 two and a half
million dollars worth OF additional
stock was offered by the company to
its workmen. and all taken; while
- .000 more of the employees have APP
piled for shares. which are to be pro-
yided. Although nearly 100000
workmen are now shareholders in
the steel company. And they Will
have all the rights and privileges of
shareholders. who are. OF course. the
owners of the concern. That is To
say. they will get their proportionate
share of the profits and have right
+ to vote with other shareowners for
| the choice of directors and all other
matters on which shareholders may
care TO express themselves. Nor is
! tahis the whole story Another fea-
/ ture of this scheme adopted by the
Steel company is peculiarly satisfy
4 ing. Other shareholders are in "a
position To face losses. But the wage
Garner is not: for his wages are
needed for the daily bread of himself
and his family. To meet this situa
/ ton the Steel company guarantees
+ the workman against loss on his
shares He is. therefore, in the
/ happy condition of receiving diyi-
dends, when the company pays a
dividend. and OF tossing nothing
when other shareholders suffer loss.
Just as the workmans wages are
protected by making mechanics
lien the first obligation against a
building. so the workman stock Is
protected by making it "A prior ohli-
CATION against the assets of the
Steel company.
This is the beginning of "A move
ment which has in IL great promise
and potency for the solution of the
greatest industrial question of our
times The particular solution fur
nished by the United States Steel
company is not possible for weaker
companies which could not effective
IL guarantee the stock Of their en-
ployes But il seems capable of APP
plication to all the large and strong
corporations of the country. And ii
they adopt 1t hundreds OF thousands
of workmen would be benefited. and
some other device might be found
= for the encouragement of their
, comrades in weaker and less prof
> able establishments. II is a form
of partnership between labor and
, capital. which has in II the elements
, of mutual recognition, common ser
! vice and devotion. and reasonable
: equality and brotherhood.
+ THE FARMER AND FREE LAND
2 So far / have spoken of the wage
Garner But the farmer also feels
, though in less acute form, the eX-
I listing inequalities OF economic con
; dtons I'm an agricultural com
y munity, with plenty OF free land
: practical equality is assured. For
: a century that has been pretty nearly
= is finding it difficult TO procure lands
e The phenomenon of vast and increas-
= ing fortunes il as disagreeable To q
e landless farmer as TO a proletarian
[ wage Garner. Here again | see little
: in the power of government TO am
= eliorate this economic condition eX-
Y cept indeed to provide for education
: I'm agriculture. And the farmer is
+ taking the matter into his own hands
( and moving northwards, where there
o Is abundance OF unoccupied land in
S the Provinces OF Saskatchewan and
/ Alberta as well as in the Older
G Providence OF Manitoba Immigrants
7. from all parts of the world are flow
4 ing into the vast and fertile wheat
4 fields of the Canadian northwest
G And, as | am informed. from third
: to half of all who arrive come from
I the United States. And the Ameri-
= cans are more welcome than any
e other people because they under
e stand and wisely adapt themselves