The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1911-12-21


favor from jobbers. would be inclined to make
better price the larger merchant than the smaller
Nor could they in the face of law declaring such
thing illegal. Prices would vary between different
whoesaling according individual efficiency but
that would only result in lower selling price
EACH both large and small merchants. and
would not be the exclusive privilege of larger
merchant.
The equal price law will do just thing and do
that we'll. 1t will wipe out sO-caled larger buying pow
err that u.s. the power the larger purchaser. In do
ing this special privilege will be eliminated and in its
place will be natural privilege which is the true founda
ton upon which mans efficiency should be allowed to
build Special privilege has ended in monopoly and the
ensaving Of efficiency Natural privilege will enfran-
chse efficiency promote efficiency competition,
far different of competition in manufacturing in
dustry from any to which the world has been
toned.
EFFICIENCY COMPETITION.
Efficiency competition would be the outcome of the
establishment Of the equal price law in all industry 1t
would naturally follow when special privilege had
cast out, and monopoly abolished that return to
form Of competition would This would be eff
cheney competition Industry, prohibited from buying
its materials selling it's products a
discrminatve between larger and smaller purchasers
would have to rely for its development and advance
ment upon efficient methods of management. Capital
would be compelled to perform its functions efficiently
and would directing, managerial and directed labor
Capital today is divided between two classes These
the and those in control of the forces
gendered by the law of special privilege. The invest
competing among themselves tend keep interest
rates expressed in dividends at low figure. so is
generally considered be about the income rate
that is consistent with sufficient security behind invest
ments This, of course applies only that class that
simply loans its savings industry and does take
part in its actual management. Those in control OF
special privilege the monopoists and by combining
with another they maintain their profits from
special privilege at high rate they dare Their
e1actons however have proved so heavy that govern
ment is being called upon loudly all the
determine what fair profit amounts to, and to limit
the profits Of monopoly accordingly.
The proposition Of determining what is fair profit
in other than by competition is impossible The
socialists that all profit is unfair. The monopo
lists declare that in their determination of
profits should be left to potential competition this
they forget that through their control
and money and credit potential competition to
exist People other than the monoposts realize this
and they the ones who think government should
eide rate that shall govern the profits of
monopoly. These people, however either among them
selves through their congressman will never be agreed
whether that rate should be so $3.50. prob
lem impossible of solution by legislation it at
tempted through legislation, dead levelism will be
established and that in form is fatal to progressive
and efficient industry
The quickest and most efficient way diff
Guilty dissolve the apply equal price
law to the units of each line unmonopozed we'll
all the of ndustrys producing distributing
try also would have work under the equal price law
that all the of industry would equal con-
sideraton when it to the question credit.
Corollary to the establishment of the equal price
law protect industry from MONOPOLY industry should
be protected from the possibility of artificial depres
siens through minimum price law under efficiency
competition, surrounded it will with protection
from the influences that profit from industrial
depression if for any industr, becomes slack
government through the bank which is suggested in
the following chapter, should provide each in
dustry With credit based fixed minimum price for
Its products That this would be safe banking prac-
tce not be gansaid by anyone who that the
products Of industry give money its value as circula
ing medium
Directed labor should have broad mantle Of
government protection in regard to wages and cond
lions OF work All industrial units competing under ef
fciency competition should encouraged or required
to be managed under the plans efficient MANAGEMENT
developed by such efficiency engineers as Mr. F. w.
Taylor and Mr.. Harrington Emarsoa. Efficiency aned
naortnG In it, regard he OF