The evening Caledonian. [volume] (St. Johnsbury, Vt.) 1918-1920, 1919-02-18

nosneements. and ne all need some
foundation ard as satisfaction 70 our
natural desire for comprehensive state
fnelfs.
1t seems clear that the present In |
dalstliaI system is destined TO last for
long time In Its main outlines that is
TO say, private ownership of capital Is
not likely 70 be supplanted by coiiee
twist organization OF industry at
date sufficiently near. 70 justify any /
present action based on the hypothesis
Of Its arrival This forecast We recog-
nIze as not only extremely probable.
but as highly desirable. for, other oh
jections apart, Socialism would mean /
bureaucracy, political tyranny, the
heiplessness OF the individual as a fac
tor in the ordering OF his ownllife and |
in general social inefiiciency and ee-
cadence. |
Defects OF Present System.
Nevertheless the present system
stands in grfeyous need of consider |
able notifications and Improvement. /
Its main defects are three-enormou |
inefficiency and waste in the prodtIc
ton and distribution of commodities,
insufficient incomes for the great ma
jority of wage-earners and llnnecessa-
rily large incomes for small minority
Of privileged capitalists. The evils III
production and in the distribution OF
goods would be in great measure sabol /
ished by the reforms that have been
outlined in the foregoing pages. Pro- !
duction will be greatly increased by
universal living wages, by adequate in
dustrial education and by harmonious
relations between labor and capital on
the basis of adequate participation by
the former in all the Industrial aspects
of business management The wastes
of commodity distribution could be
| practically all eliminated by co-opera-
tive mercantile establishments and CO.
operative selling and marketing associ-
atoms.
Cooperation and co-partnership.
Nevertheless the full possibilities Of
increased production will not be real
lied so long as the majority OF the
workers remain mere wage-earners.
The majority must somehow become
owners or at least in part of the In
struments of production. They can be
enabled to reach this stage gradually
through cooperative productive socie-
ties and co-partnership arrangements.
Iii the former the workers own aud
manage the industries. Themselves in
| the latter they own a substantial part
| of the corporate stock and exercise a
| REASONABLE share in the management.
| However slow the attainment. of, these
! ends, they will have to be reached be-
fore we can have a thoroughly efficient
| system of production or an Industrial
and social order that will be@secure
from the danger Of revolution. 1t is to
be noted that this particular modifica-
| ton of the existing order, though far
reaching and involving to great ex-
| tent the abolition of the wage system,
/ would not mean the abolition of pri-
yate ownership. Tie instruments Of
! production would still be owned by in
dividuals not. by the State. go
i Control of Monopolies.
"For the third evil mentioned above.
excessive gains by a small minority Of
! privileged capitalists, the main RENE
! dies are prevention of m0nopolistfc
| control Of commodities adequate gov
! eminent regulation Of such public serv-
ice monopolies as will remain under
| private operation and heavy taxation
| of incomes, excess profits and Inherit
| ances The precise methods by which
genuine competition may be restored
! and maintained among businesses that
| are naturally competitive cannot be
| discussed here, but. the principle is
| clear that human beings cannot be
| trusted with the immense opportuni-
| ties for. oppression and extolfion that
| 20 with the possession Of monopoly
! power That the owners of public serv-
/ ice 1nonopoiies should be, restricted by
| law to fair or average return OH
| their actual investment has long been
! recognized principle OF the courts,
/ the legislatures and public opinion. 1t
| is a principle which should be applied
| to competitive enterprises likewise,
| with the qualification that something
| tuOEG tlldH liC StfCidSC iutC oAF 0lNaA
should be allowed to men who exhibit
exceptional efficiency. However, good
/ public policy as well as equity de-
fnands that these exceptional business
/ men share the fruits of their efficiency
/ with the consumer in the form of lower
prices. The man who utilized his abil-
/ It, to produce cheaper than his COM
| petitors for the purpose OF exaeting
/ from the public as high price for his
/ product as is necessary for. the least
! efficient business man is. a menace
rather than a benefit to Industry and
| society.
"Our immense war debt constitutes
| particular reason why incomes and
excess profits should continue to be
/ heavily taxed. III this way two impor-
| tant ends will be obtained, the poor
will be relieved of injurious tax bur-
dens and the small class of specially
privileged capitalists will he compelled