Saturday news. (Watertown, S.D.) 19??-19??, 1919-04-17

At this conference of the Powers In
Omaha they talked 81 much, and Of
course they passed resolutions. now,
the first OF these latter, adopted unani.
mously, IL you please, was not a plea
tor higher dutiess nor FOR anything that
had to dc with r7oney or power or the
elevation of the boldea serpent Ii was
plain, straightforward statement that
they Endorsed the principle of the
League Of Nations and believed il to-
be the duty o. our public men to co,
operate I'm securing the adoption 81
the moderate asld practical plan pres.
ented to the Paris ~Conference.a
These Americans truly were not
afraid that aBouregoisie a cap,
ital.stic war would come 10 an end
They wanted it ended for an time.
They did not fear that Woodrow WIZ
son would bring more war upon the
world These practical men thought
the plan practical" Rather high
testimony, I am thinking.
And they talked Of giving work to
the soldiers by extending the govern
msnts credit for the reclaiming Of
lands for their use as farms. This re-
solution certainly finds an echoing
cheer in the camps or France ais well
as in the environments OF America, and
in the homes. too, Of tens Of! thous-
ands Of eager mothers. who are ganxi.
Jus to see their boys *wfie nave been
SO brave and SO generous given a
start i'm life.
They wanted business resumed re-
CARELESS Of prices, rather take a loss
than stop. They hoped for developed.
waterways that could compete with
aiaToads, Waiter powers must be
made available to save coal. Farmers
should be able to borrow more money
on their lands. Good roads should be
promoted. Little investors in stocks
and bonds should be protected. Indeed,
these men talked and resolved serious
ly like "gertlenen unafraid." They
for a greater America, a policy
Of Carry on They had plans hat
took no stock OF the wild theories that
IRE abroad as being read dangers to.
this land Of ordered liberty.
Listen ITO this word on the relation
between capital ard labor; It is the
closing sentence OF q long resolution.
The public has q right to demand that
a remedy be found by the interested
parties themselves, so that the enmity
and hostility Of the past win cease, and
labor and capital shall be purifiers. Id.
industry, and net enemies. Truly, men
who think this w~ayasareanot Bonrbors,
their eyes are not turned in the IN!
fortunate direction which brought mis-
fortunt OF Lots wife. l#8
Capital an Adyenturer
Dor, why issthere such constant ignor,
But while talking Of capital and be-
ing Of another member sof the firm,
just as important al the other two il
we consider the manner In which In
Isl conducted today? How about
the brains that organizes, directs man
ages the property? The capitalist is
an adyentuner, ana&when he is, he
should ne compensated as an sadventur-
er. He should have not merely the
standard return ON capital, which In
standardized enterprises like railroads
will inevitably tend downward to In
terest rate, the discount rate OF the
banks. So much capital as such, where
it is not in,periled or where its risks
may be ~foreseen. Capital Is labor and
thrift and vision stored up. 1T has
responsibilities toward the world which
must recognize, duties that 1t must
perform, or, 1t will not be permitted.
That is the cold fact. 1t must multi
ply Itself or it does not do. its duty.
Latterly we have been taking 80 great
a part of that wealth which is rsswly
created as taxes Ind putting 1T into
the most wasteYui OF all enter.
prises, that we havesnot been launch
ing new works, opening new enter
!prises. And that rs not good business,
not healthy for capital, labor or the
states And labor needs capital and
both need directing brains. wise. far
seeing brains.
I'm the older days capital and man.
agefnent were one, the capitalist was
alos InaIIaser. He conceived tttile lax.
tory, the mill, the shop or whatever
the venture was This was in the day
Of smaller things. Now. however, the
brains that runs the plant is not the
pocket which furnishes the money for
1t; nor the h that works in It.
There aresrealiy now four partners
-labor, capital. management and the
state And when capital and labor cit
down together, as suggested. they must
IN themselves represent the spirit and
the interest OF the sother two Or else
the enterprise will TALL The world
was divided some four hundred years
.ago, and all the eastern half given to
lPortugalaand the western half TO
Spain. But the division did not last.
There was q superior claim; q party
in dnt3restaHhosa r1efftss had not seen
considered. And - Ill must be- with any
NEW division OF the earth. Society Is
the larEeword nowadays And That
docs mean socialism, II means
go