New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-06-13
Interests OF All interviewer.

The bankers know. because the facts
are daily under their ewes. that the In
tercsts 81 all classes are SO interviewer
that there is and IAN be no such thing as
class struggle boo the sense .u which
that term is used There are conflicting
Interests. bat thry ar. within classes as
much as between classes. In the nature
% things capital completes with capital
rather than with Labor.
Capital and labor must Doe used to-
getG,r. and with tine supply OF capital TN
crcaelus faster than the supply OF labor
10 is inevitable that labor shall steadily
gain "a stronger position Every little
" Hilr we have the suggestion. and from
wise men. too that before things are set
ted labor viii have 70 he nqu.dated
Gentlemen. labor VIII never Dee ligui-
dated as iong AS capita, grows faster
than population. But n capital accumu-
lations fall OF. n our earnings fan of or
our savings fall OF. II We become iuefil-
Client in production or wasteful in eXpen-
diture then there viii be- danger that
everybody viii be- llqudated'
And there is SIN another phase OF this
Z. ]
machinery for labor. SO IL does. but what
becomes Of the products Of machinery?
Does II come home TO you that practically
all OF the vast expenditures We see going
on about US for construction and equip
mcnt are for the purpose Of serving In
some manner the masses Of the people.
There are these two essentials for "A
progressive peoplc-tncre must be gains
I'm the efficiency of the population and
gains in available capital to finance
greater efficiency. Ana gains In efficiency
and 10 capital react upon each other In
definitely"
Cornelius J. Pugsley. president OF the
association said In part
"A sound, stable and responsive cur
rency concerns so closely not only the
banker but all classes OF our citizens
that no measure should be enacted into
! law unless IT be the result Of the most
painstaking study. calm deliberation and
mature judgment Of men qualified and
equipped 10 deal with so great a financial
and economic problem. believe that
any measure or measures considered by
our present Congress should receive In
tellieent thought. study and discussion
! by men OF all political parties II We are
to evolve an ideal currency system
4 banquet notable because Of many
announcements, by men prominent IN
banking and public life in Canada and
the United states. IN behalf of universal
peace. with especial emphasis on the
/ coming centenary celebration among Eng
fish speaking peoples. was given by the
| Dominion government tonight IN honoi
OF the delegates attending the convention
Friendship between Canada and TN
United States was pledged and toast'
were drunk 10 King George, the Duke oil
Cornaught. the Governor General OF can
ada and President Woodrow Wilson.
| soeechcs were made or toasts proposed
nv Sir Charles Fitzpatrick, chief justice
and administrator; Premier Borden
Iamcs J. Hin, ex-Governors Montague oil
virginia and Eberhart of Minnesota "
y White. Canadian Minister Of Finance
q Cannon. OF New York city, an'
Mayor !. \. Ellis Of Ottawa.
Premier Borden read "A reply from hlnl
Ceoree to the greetings sent him TINS
morning by the bankers In convention.
!