Connecticut western news., 1919-02-13

lllHE oi AHs hluu dS IllloSOpnichi foundation and as satisfaction to our natural desire for comprehensive state ments.
 "It seems clear that the present In- dustrial system is destined to last for long time In It's main outllnes-that is to say, private ownership of capital iH not likely 10 be supplanted by a collec- twist organization of industry nt a date sufficiently near to 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 obs jections apart, Socialism would mean bureaucracy, political tyranny, the helplessness of the individual as fac tor In the ordering of his own life and in general social inefliciency and de- cadence.
 Defects of Present System,
 Nevertheless the present system stands in grievous need of consider able notifications and Improvement. It's main defects arc three--enormous inetlicicncy and waste In the produc- ton and distribution of commodities, insufficient incomes for the great ma jOrity of wuge-earners and unnecessa- rily large incomes for n small minority of privileged capitalists. The evils In production and in the distribution of goods would be In great measure abol- ished by the reforms that have been outlined in the foregoing pages. Pro s 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 COG operative selling and marketing associ- ationS.
 Cooperation and co-partnership.
 Nevertheless the full possibilities of increased production will not be real ized so long as the majority of the workers remain mere wage-eurners. The majority must somehow become owners ar at least In part of the in- strlments of production. They cnnsbeg, enabled to reach this stage gradually through cooperative productive socie- ties and co-partnership arrangements. In the former the workers own and manage the industries themselves; iR the latter they own n 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 m industrial and social order that will be secure from the danger of revolution. 1t Is to be noted that this particular modlfica- tion of the existing order, though far reaching and involving to n great ex- tent the abolition of the wage system, would not mean the abolition of pri- vate ownership. The instruments of production would still be owned by in- dividuals, not by the State. ...
 Control of MonopoIles.
 For the third evil mentioned above. excessive gains by a small minority of privileged capitalists, the main reme- dies are prevention of monopolistio control of commodities, adequate gov ernment regulation of such public serv- Ice monopolles us 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 I....., RNN Ina trusted with the immense opportuni- ties for oppression and extortion that 20 with the possession of monopoly power. That the owners of public serv- Ice monopolics should be restricted by law to fair or average return on their actual investment has long been recognized principle of the courts, the legislatures and public opinion. It is a principle which should be applied to competitive enterprises likewise, with the qualification that something more than the average rate of return should be allowed to men who exhibit exceptional efficiency. However, good public policy as we'll as equity de- mands 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 abll- it. to produce cheaper than his com petitors for rhe purpose of eNacting from the public as high n price for hls product as is necessary for the least efficient business man Is n 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. In this way two impor- tant ends will he obtained, the poor will be relieved of injurious taS bur- dens and the small clrss of specially privileged capitalists will he compelled to rctun part of their mearncd