The San Francisco call., 1910-03-13
sMUL LTI-MILLIONAIRES DAY TO PASS
Carnegie Contends That Present Industrial
System Puts Men Above Money

best. interests OF the community as a
whole. The day of private gain is to
give PLACE, in due time, as being sec
ondery. to the higher consideration OF
lnunity as whole, to whose well be-
ing personal considerations must bow;
the public good, not individual gain,
must ever be our first care.
the proposed court of commerce as
proposed by. our far seeing and judi
cious president, in accordance with
the policy o. his marvellous predeceS-
sor. This movement, of which our
country is destined to become the,
pioneer, will put the land Of trium-
phant democracy in its proper place
as leader OF the world. for the worlds
good. in the realm ofspeaceful indus.
trial progress. 10 the old home Of
our race in Britain we are largely
kndebted for its remarkable manufac-
turing and commercial system. in
which It led the world We are about
to repay the debt in returning to her
the new system adapted to our adj
vanced day. the regulation and sub
ordination OF the Industrial world.
making it weapon for improving
the conditions of life, not primarily
for the few. although those also will
the many-the workers. not the cap
italtsts; and yet, improving the lat
ter also, for in the highest sense
human life is elevated just. as. the
can be no happy life for the rich, II
happy lives be not within the reach
of the sober, Industrious, honest, law
abiding. self-respecting toilers. For
tunately this is in greater measure
possible today in our beloved repub-
lie than in any other land the sun
shines upon. Let us see to II, gentle
men of the chamber of commerce,
that in this we keep our country in
the van.
You have noticed. trust, with in
tense interest and approval the
growth of action upon the part of the
workmen financially in the product of
their labor. Supreme Importance
should be attached to this movement:
No less than about 200 commercial
and manufacturing establishments in
our country have interested their en-
pioyes in varying degree and in vari-
Gus forms as owners with them. The
movement is spreading in some of the
cially is distinguished for the growth
of pension and life insurance funds;
Britain is now moving in the matter.
and we see in our country it is being
rapidly established by our railway
and steamship companies. On every
hand we have evidence of the coming
alliance of capital and labor. The
most profitable investment that the
draws his workmen and himself into
close alliance in the bonds of mutual
interest. We must prepare for a vital
change in this respect in the relations
between capital and labor. 1t already
seems evident that this is to take the
form of shareholding labor, the en-
ploye to be at once laborer and capf-
talist In every direction we notice
upon the part of capital the spread of
interest in the employe, and this is to
prove equally profitable to both capi-
tai and labor. In my experience /
soon discovered that there is no
money, no time so prof1tably spent as
that spent in increased care and in
creased rewards for the laborers'
good.
The pessimists may here be dis
posed to believe that the thirst for
wealth will impel the ablest to labor
for his own gain regardless of his fell
lows-with milliardom always In view
Let us consider this point of view.
Is this really the rule today through
out the realm of business? I do not
think so; at least the exceptions are
already most notable. Take our vast
railway systems as the greatest in
dustriai organizations. Is McRea,
president of the Pennsylvania system,
who is a relatively poor man; is
Brown of the New York Central, also