Wheeling majority. [volume] (Wheeling, W. Va.) 1907-192?, 1912-01-04
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u " LEI i'iaaas EfshA lAlE ERSHIP OFINDUSTRY
the can be the making Of profit FOR the owner
Ihat Is the only reason the owner is in business Take the
pront CUT q the business and he will leave it, Injury, dis
ease and death are necessary to private owner
sup 81 it to have them
enan net 70 nave profitable to the 70
protect tne Workers and patrons Of an industry from in
jury disease dsdeath costs money It costs money
It IS 10 installing safety appliances or improving
1ne the product reducing the hours Of labor
that costs money cuts down the profits Of the
owners For tins reason the private owners of industry
every attempt the part of the people to wipe
cut the chances Of disease and death il that indus
situation is srious enough when it is only desired
70 have dividends upon the actual capital invested in an
real dollars put into the business But modern
industry is capitalized at twice its actual value For in
stance certain may raise 100000 and build rail-
road paying out that money for the material and labor
necessary to get the railroad ready to run To secure
OF 10 cent it is necessary to make that rail
road $4,000 year the owners over and above the
expenses and all provision for repairs and renewal But
the property is usually sold to another company which is
often only the organized under another name
for say in stock and thus that same railroad if
still pays 10 per cent dividend has to produce $4,000
profits This has gone to such an extent in this coun
tEy that the highest salared all industry are not
you might suppose those who can make machinery
produce the most but those who can most successfully
real dollars of capital into 100000 stock dol
lars and produce the old dividends. And this also
explains why great American industries apparently
but small dividend upon capitalization,
really paying an dividend upon the actual capt.
tai invested
This condition alone is sufficient to justify public
ownership The government, having dividends to pay
upon actual capital invested but having only
and tear to consider could effect stupendous saving
production and distribution.
This saving could be expended railroads BY
reducing the hours and improving the conditions and
creasg wages Of the workers. and by increasing the
convenience and safety OF travel and BY reducing the
rates of transportation This would all be possible then
be easily possible than when it IS accomplished
as it will be- people will wonder why we were ever
50 foolish as not to do it, S IL
@ Private profit is the incentive behind the railroad
disasters 1t costs more to have accidents occasionally
than to prevent them entirely may be argued that this
is Sometimes necessary order to provide incentive at
all that industry cannot get along incentive and
that government ownership would fail because there would
be no incentive for persons to do their best.
This argument is as baseless as It is persistent AS
matter of fact there never was, in all the history OF this
world Of ours single really great thing that was done
fer private profit The things that stand out mont
Inents il pathway Of the past things that were done
without the incentive of private profit Usually these
things have been collective undertakings done by all the
people Of that particular time or place. ss .ssss
~ But we do not even need to lean upon history Our
own times furnish excellent evidence Take the courts
law Whenever firm on corporation fails miserably
IN the conduct Of their own private business the people,
actng through the court take the business over through
sreceiTershp and if there is anything LETT to stand
m m BACK TO THE PRIVATE OWNERS TO RUIN
EA(4AIN. $500 ss.sss
E This has been done with very many OF our largest
,ailroad systems 1t done every day 10 every STATE Wltn
lesser corporations and enterprises @ s.ss
IRe National road that poked its progressive nose
Through Wheeling century ago was another lnstraon
ownership falls for this road after the utter col
LAPSE of ali kinds incentive was built by the
government and marked greater epocn e ane qeveop
af y railroad Over this National Pike eastern clyilza
poured into the western and multiplied our
country population wealth and resources a,e Is,