The Bridgeport times and evening farmer., 1919-03-03

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- ations.
 Cooperation and co-partnershIp.
 Nevertheless tue full possibilities of increased production will not be real ized so long as the majority of the workers remain mere wage-earners. The majority must somehow become owners or at east in part of the tn- struments of production. They can be 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; In the latter they own q substantial part of the corporate stock and exercise 6 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. It is to be noted that this particular modifca- tion of the existing order, though far reaching and involving to a 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- diyiduals, not by the State.
 Control of MoneEolfes.
 "For the third evil mentioned above, excessive gains by 6 small minority Of privileged capitalists, the main rene- dies are prevention of monopolistic control of commodities, adequate gov ernment 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 opportuI1t- ties for oppression and extortion that go with the possession of monopoly power. That the owners of public servs ice monopolies should be restricted by law to a fair or average return on their actual investment has long been q 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 well 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 abil- it to produce cheaper than his com petitors for the purpose of exacting from the public as high 8 price for his product as is necessary for the least efficient business man is menace rather than 6 benefit to industry and society.
 "Our immense war debt constitutes a particular reason why incomes and excess profits should continue to be heavily taxed. In this way two impo-- tant ends will be obtained, the poor will be relieved of injurious tax bur dens and the small class of specially capitalists will be compelled to return a part of their unearned gains to society,""