New-York tribune., 1919-08-08
TIFFANY & Co!
FpTH AVENUE s. 37M STREET
PEARLS DIAMONDS JEWELRY SILVER
CLOCKS WATCHES CHINA STATIONERY

"'c'oiieHIS III railway securities, tina,
every depositor in such a bank, every
holder of life insurance policy and
every one in any way affected by the
net assets OF such institutions are rep
resented by them
Many Millions Interested
"lf 100000 people are indirectly
affected by the market value of S2o,-
ooo,0O0,OO0 of railway securities held
by 2oo,000 individuals, how many peo-
pie are affected by the market value of
$2o,0000 900 of government bonds
held by 22,000,000 individual subscrib
ers! Ard to what extent are holders of
NE insurance policies and depositors
IN savings banks interested in seeing
that the resets of those institutions are
not damaG Il y shrinkage in the mar
ket of go ..Anent bonds which they
hold?
"Never before have so many individ-
uals united in single presentation, and
II the value of a labor investment be
calculated by the return which it re-
celVes, IN the same manner in which &
capital lnvest tment is determined, then
thal labor investment measured finan-
claliy approXimates a value of $50
00O,OOO000. In addition to that, at
least 10000 citizens appear here as
capitalists, owning large proportion
OF the national debt. and seek to have
their interests, as such owners, likewise
considered and justly protected Never
pe1ore have so many capitalists ap-
peared before Congress to assert their
Referring to labor's plan for public
ownership, Mr. Plumb said:
rms vast army of producers for
whom | appear are not divided They
present no conflicting plans, no di-
verse theories for the solution of this
problem, bat appear before you united
force profoundly convinced of the eco
nomlc soundncss of the principles upon
winch their plan is built, imbued with
the crusaders spirit to support the
principles upon which their faith is
founded
THE progress Of recent events has
brought us face to face with crisis
OF tremendous Importance, The con-
stantly rising cost of comm odities to
the consumer has far outstripped the
purchasing power of the consumers
wage. This difference between earn
ing power and spending power of the
great mass Of the workers has COM
pelled corresponding lowering of the
huence entirely hostile to the interests
OF humanity. and to bc resisted by all
the powers OF mankind.
"Inrest Means Real Revolt"
Such resistance is inevitable. Human
nature cannot do otherwise than OBJ
pose the universal lowering of the
standard of living. To avoid the dep
rlvatons which loss of purchasing
power necessarily inilicts. the first
natural reaction is the demand for in
creased purchasing power through de-
mandod raises IN wages, yet this dc
mand is acknowledged 10 be futile. he
cause such increase in cost of produc-
tlop s lmmediately ly more than reflected
In tie increased cost of commodities.
'ln answer to this first reaction,
demand for increased wages. we now
find 100000 railway employees refus-
ing longer to render their services for
these constantly diminishing returns
This manifestation Of revolt is but
symptomatic of the entire industrial
situation. 1t is not unrest that con
fronts US. it is revolt because of in
dustrial conditions no longer to be
borne
"The plan which labor presents has
been prepared after a most careful
study Of the economic situation ex-
isting, the causes Of the present evils,
and the proper correctives to be APP
piled. The faculty system may be i'm
proved by regulation. but regulation
OF system long unprinci pied merely
delays it's ultimate collapse. 1t is not
constructive 1t lays no foundation for
solid progress 1t palliates but does
not cure.
"We already number IN the support
ers OF labors plan approximately g.
100000 adult producers-about one
sixth or the productive man-power of
the United States, perhaps the same
proportion of the political power of the
ration, and a financial power which
few comprehend. Those employed on
the railways alone, represented in this
movement, receive as their annual com
pensation for the investment of their
life and labor upward of 50 500 ,OOO,-
600 year-two and a half times the
amount OF compensation paid for the
use OF the money invested in rail-
ways.
"It is claimed by those who repre-
sent the financial interests before this
committee that they have investments
of approximately $4,000 900 in this
Industry. Unless they receive return
OF 81 COO 100000 year how shall this
investment OF money be compared with
that investment of life and labor that
receives return Of S2,500,O0O, 900 a
year? BY what standard can they be
compared which gives 10 the invest
ment of lives a value less than that
allotted TO the investment Of dollars?
~ what reasoning can the interest of
things exceed in value the interest of
human beings? He who speaks of the
Interests of property as consisting Of
rights which the property possesses
disassociated from the human right of
ownership reasons falsely. Our gov
eminent. founded upon our Constitu-
tlcn, deals with individuals, not with
things " is not with the interest of
capital with which We have to do, but
with the human interests involved in
the ownership of capital by human be-
ings.
All citizens are consumers. Most
citizens arc producers Those who CON
sune and do not produce are either
hcg@ars OF capitalists. Many who pro-
ducc are also capitalists have already
Shown hat 100000 OF the wage earn.
ers o. The railroads, producers, arc
capitalists in that they hold Govern
inert securities. Many Of those who
hold investments in The railroad also
serve the industry in some capacity. It
is said that many of the organized en-
pioyes on the Pennsylvania system also
mold stock in that system MANY Off
cial employees on all railroads are the
owners of railroad securities. So that
these three interests are comminrled in
the great body of citizens. Likewise
al producers are consumers: and again
all consumers are producers, excent
those who live by charity or those who
live on interest alone. All of organi2ed
lanor are consumers. and it is the fail