The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1919-05-09
Dividends Will Have to Be Sacrificed
for Period to Adjust Labor Situation

which would be beneficial to the en-
| ployees.
Labor leaders now are skeptical of
the plan of industrial representation
because they believe that the workers
representatives must present ideas
suitable to the boss or he has little
chance to have his views prevail. They
are not convinced that the EMPLOYERS
are sincere when they announce that
they will permit the workers to have
a voice in the management.
Again this brings in the human ele-
ment. If the employer is sincere in
his desire to bring about contentment,
efficiency, fair wages and better work.
ing conditions by allowing the work
ers themselves, through representa-
tives, to initiate benefits for the work
ers and increase the production out
put, this plan will in time become a
success, in my opinion. But it is nee
essary that the workers be convinced
that they are going to get square
deal.
Pension funds, death and benefit
funds, loan associations by which the
workers can buy homes, practical well
fare work and similar plans for MAX
| ing things little easier for the work.
ers and their families may be worked
out in connection with the expert
mental dominant plans outlined, and
usually have been welcomed by the
employees.
Sacrifice Of Dividends
10 4
ceivers of dividends from industries
as to what part they must play in
connection with the readjustment pol
icies necessary to meet the labor I'M
rest might be pertinent at this time.
Dividends must be sacrificed to
certain extent during the reconstruc-
ton period if the new square-deal
conditions are to be met, in my opin-
ion. In working out this new idea of
| fair play to the workers and indus
tries 1t may be necessary to reduce the
dividends temporarily during the
wage-adjustment process.
1t should be remembered that en-
ployers are facing a condition brought
about by the war and growing senti-
ment for higher wages to assure an
adequate living to the families Of
wage earners. The condition may not
be to the liking of the receivers of
dividends, but it must be faced square
ly, even at the emporary loss of div
idents.
The real shift from a war footing
to peace basis in industry is COM
ing shortly. The situation now is
somewhat chaotic. 1t may not settle
down until the peace treaty is signed,
the military forces are brought back
home, and the unemployment prob
lem is solved.
On July there will be several hun
bred thousand bartenders and own
ers of saloons out of jobs, according
to present indications, and their labor
must be absorbed in other lines. The
100000 American soldiers under
arms will be demobilized and they
must be given jobs. The workers who
are replaced by the returned fighters
and others in. the quick shift for jobs
must earn a living, and their labor
Twill be on the market.
Big Boom Is Coming
When peace becomes a formal real
lily America must help feed and re-
equip the world. The world markets
will be thrown open. The wheels of
American industry will begin to hum.
American trade will increase in big
Jumps, and we will have several years
of industrial prosperity, it is general
ly believed. Then dividends will grow.
In the meantime the labor prob
lens must be worked out along the
lines of the square deal, and America
must face the new trade problems
with universally contented force, in
my opinion. The reconstruction peri
cd is here, and the employers must
keep plants working and retain an eff
fective working force to be ready for
the big world rush. This may tempo
rarily eat up dividends, but it will be
a paying investment.
| Stockholders should willingly share
in the losses incident to the change to
square deal all around. The solu-
ton of the labor unrest, and the elm
ination of the radical elements of
both industry and labor sides will, ]
believe, result in larger dividends to
stockholders on their money invest
ment and greater dividends in wages
and contentment to workers on their
labor investment.
JESSE BLYTHE.