The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1915-03-18
Henry Ford Talks on Capital and
Labor
Or, W. Babson in New York SUM

OF course Mr.. Ford believes that
there are many other manufacturers
who could now give back half of their
profits as we'll as he if they wished TO.
He believes that large percentage of
employers could now do this without
harm to themselves or their industry,
while their children would be infinite
tly better off If such course were
adopted. But Mr. Ford does not con-
slider il to be any of his business what
other manufacturers do. Let every
man do as his conscience tells him
we must not judge others" says Mr..
Ford Moreover, he sticks pretty we'll
to this motto, provided no one men
tons Wall street bankers. Then it's
all off
had a taste of this when asked
him # he thought certain other auto
mobile manufacturers could, If they
] wished to pay the wages and bonuses
that he is paying To this he replied;
/ mo, they can not so long as they
ARE controlled by New York and Bos-
ton bankers. who know so little about
I the business; but let those men come
out here and learn the business and
work at it and they will be able to pay
both higher wages and greater divi-
dends.
/ Curse Of Absentee Ownership.
q tell you Mr. Babson, that the
curse of American industry today is
absentee ownership. The entire prin-
cipal of absentee ownership Is funda-
mentally wrong, and was never meant
to exist Capital Is entitled to inter
est at the market rate on money actu-
ally and wisely invested by men who
know the business; but the idea that
capital Is entitled to the whole, after
labor has been screwed down to the
last notch, is not sound.
(Mr Ford of course believes in recog-
current idea among your friends that
stock which Is given away and the
money which Is needlessly wasted or
invested on the word of some jolly
friend or professional promoter"
sMr. Ford of course believes in recog-
nizing money spent on legitimate and
professional experiments).
But not only do these bankers and
promoters waste huge sums at the
start; but they are continually doing
it. For when they make enough to
pay good dividends, this Is all many
of them care about; they seldom try
to develop more efficiency in order to
pay their men greater wages.
"Thev treat their men just like COM
modities-like the wood, iron and cop
per that they buy and sell. In fact.
many of your Wall street captains of
industry don't treat their employees so
we'll as they do their machinery. When
business depression comes they
carefully clean and grease the idle
machines to protect them from deter
ioratiOn; but what do they do for their
idle men? Nothing, These men are
thrown out Of doors, whether 1t be
winter or summer, rain or shine, tC
shift for themselves.
Rich Mems Sons Generally Worthless
Then again absentee ownership
never properly recognizes the value OF
experience and loyalty Eastern bank
ers send men out here to manage
plants, not on account Of their expert
ence, but because they are family re-
lations or members Of the same col.
lege fraternity. The Ford principle is
never to hire new men for the better
positions. We always promote oul
own men. Pulls don't go with us
Every one has a fair chance, but al
must start at the bottom.
Another thing, we never want rlcf
mems sons who don't have to work. As
a rule they are no good. But mos
manufacturing plants controlled by
absentee management are usually
honeycombed with these rich mems