New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-29
FROM London Opis,ion

industry should be the we'll being OF the
men and women engaged in it? The sound
est industrial policy is that whict has con
stantly in mind the welfare Of the en-
ployes IS well IS the making Of profits, and
which, when necessity arises, subordinates
profits to welfare. Industrial relations are
essentially human relations, and it is the
duty OF every one intrusted with industrial
leadership TO do all in his power to improve
The conditions under which men worl. and
live.
Obviously, The day has passed when the
conception OF industry primarily mat
ter Of private interest. can be maintained
To cling to it is only to lay UP trcuble
for the future and to arouse antagonism
In the light OF the present every think
ing man must adopt the view that the
purpose Of industry is to advance socia!
"ellbeing rather than primarily to afford Ii
means for the accumulation OF indiyidua!
wealth. It must be borne in mind, however,
that industry cannot be successfully carried
Oh unlese not only The community and the
workers aye adequately served, but those
whose money is invested are enabled to re
alze just return.
Second-we should ask the question:
Who are the parties to industry? They are
four in number-Capital, Management, La
Dor and the Community. Capital IS repre-
senred by the stockholders and is usually
regarded az embracing Mauagement Man
agement IS. however, an entirely cooperate
and distinct party TO industry; It consists
OF the executive officers, who are the ad~
ministrators OF the industry, and who bring
TO it technical skill and managerial expert
ence Labor IS represented by tho en-
ployes, but its contribution, unlike that Of
capital, ~ not detachable from the one who
makes it, for it is his physical effort, his
strength, his life. Here Il list usually
ends, for the fourth party, namely, the COM
nluMity, whose interest is vital and in the
last analysiS controlling, is too often is~
nored The communities righ- to ropre-
eentation in the control Of industry and in
thc shaping Of industrial policies IS similar
to that Of labor. But for the commun!ty's
contribution, IN the maintenance OF law and
order, OF agencies OF transportation and
communications, oY systems of money and
credit and OF other services, ali involving
CONTINUOUS outlaws, The operation q capital,
management and labor would be enormously
hampered, IL not rendered vel! nigh impos~
sible. Furthermore, the community is the
consumer OF the product o. industry, and
the money which it pays Yor the product
provides the wages, salaries and profits tina.
are distributed among the other parties.
Third-What are the relations between
these four parties in industry? It IS fire.
quently maintained that they aye hostile
&nd antaeonistic. 7 am convinced that the
opposite IS the case, that they are not those
OF enemies, but Of partners, and that the
tour parties have Z common interest Fur
thcrmore, success cannot be brought about
by any one OF the parties assuming posi-
tiou OF dominance and arbitrary control, but
It is dependent rather upon the cooperation
o. all four. Partnership, not cnmity, is
the NatchWorl. While The relationship ehus
described is undoubtedly the ideal one, We
may we'll ask ourselves 10 what extent IL
this ideal realized in the average in
d0slry. Respectfully We must answer, nos
often.
AZ industry has become SO A.shly special
izcd, instead Of following tie p.oduc.
through from start 70 finiss as wac true in
the early days and being stimulated By the
knowledge that he was the sole creator OF
useful article, the workman Of today de.
votes his energies as rule TO the count
less repetition of q single act OF process.
wheh : only one Of perhaps hundred
operations necessary in order 10 transform
.Ae -4n n.4ter.a. INTO tAa finished product.