The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-12-10
COAL PROFITS

Former Secretary Of the Treasury McAdoo, while NO longer in
office, has shown the government authorities how to come at the
profits OF the coal operators-a secret that has been carefully
guarded ever since the coal question has become acute. tie does
this by referring to the income tax records Of the operators, and
from these it is learned that the operators have been making ZOOO
per cent profit on the amount of capital that they have invested.
This is making money very fast, il it is not profteerng, ard the
coal barons are very angry with Mr.. McAdoo for exposing their
rapacity. They are not choosing the wisest and most effective
way OF meeting his arguments. One OF the officers OF the coal
operators organization pronounces McAdoo "a fool and another
spokesman says that Mr.. McAdoos exposure carries no weight
and requires no answer Another pronounces his statements
"~studiously malicious"
The public at large knows that McAdoo is not a TOOL, and the
fact that he has aroused the ire OF the coal operators shows that
his words do carry weight, and that they have no answer to them
There is no malice in what the ex-secretary says. lie holds no
grudge against the coal operators. They are nothing to hin He
is merely trying to obtain by indirect methods information that
the coal operators have refused to furnish directly, and in this he
IS rendering a valuable service TO the country,
According to the Christian Science Monitor, one oil the most
reliable newspapers published anywhere, "The net incomes Of
mine owners in 1917 showed an increase of l0l5.34 per cent over
those OF 1916, and incomes generally, recorded under the head Of
coal, showed a corresponding increase the same year of 59S3o2
per cent If this is not gouging the unhappy consumer then
there is nothing in figures, Such profits amount to conhscation
ofthe consumers money. A few cents a ton increase to the miners
would make no appreciate inroad on such enormous profits as
five thousand per cent brings to the operators. They are prof
iteering and should be restrained.
With the miners on one side and the operators on the other
the public is the tertium qud and is ground between the upper
and neither millstones, The miners who dig the coal out of the
ground should be made satisfied with remunerative wages based
on the general wage scale throughout the country, and allowing
literally for the hazardous character of the industry, and the op-
orators should be required to take their hands out Of the peoples
pockets when they make a reasonably fair commercial profit on
their investments. They should not be permitted to exploit and
plumber the public Just because they have the power to do so,
The government has more power than they and should regulate
them.
The controversy will ultimately bring out the facts in the
case. 1t will not do to put all the blame on the miners of(hand,
or claim that they are being mised by foreign anarchists, The
majority of coal miners are native-born American citizens and
not anarchists, The coal operators official who declared that
such revelations as McAdoo made are what Bolshevism feeds on
may have spoken truly, but our government should remove and
destroy the evil before Boshevsm can get to it.
McAdoo may be playing politics, as is charged, If he is his
play is surely in the interest of the people, and will relieve the
coal consumers of an ~intolerable burden which they are now carry
ing. Publicity will solve the riddle. The people are fair-minded,
and will do what is right when they are given the facts.