Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-01-08
PROPOSES new SYSTEM
PLUMB PLAN FOR WHOLE
{ 0F NATIONS INDUSTRY URGED
Public, Capital aud Labor to Have
@ Representation Under New In
eA dustrlnl HeEimc.
fBy Associats,i Prnss.

fBy Associated Press,l
WASHINGTON. Ian. IA Plumb
9 plan for all American industry
6 modelled after tho plan OF the same
!. rannounced soon.
= Copies of the plan. eap,iencd An
are being circulated IN, Washington.
- and some OF them have beca received
-. Brieay the plan composes for all
--"A american industry the system OF tri-
s naT'ite ,,n railroad Eon,Sel adyoeate,
has Been announced. Would be made
-. e. Same Divisions Proposed.
II proposes practically the same di-
Vision Of representation Tor capital.
Industry is olassed into four d:vi-
III: Thosss ":nd:viduai:s,ic in. owner
tor and manufacturer who is both CAPT
-. All indus.-ies "sorm net'iy' iadiyidu.
.;alistie," but which through organisa-
IS separated from ia Dor and concerns
:,Seit only in direction and supervision
efforts q others who have no share in
5. Industries "based upon q gran.
from society in the shape OF a fran.
In this division are :nclud,d all ,mhyyi,
seryise J., eo,rrora,ions except those en-
Industries engaged in exploiting ma.
daESl rsso ,a These LATER arc
49, as including mines, gas and
Explains sersrate Confederation.
ner:a,ien facilities. The plan IN" exp ;ai.
that these are considered separateIS
from the public. service facilities Gnu
or. orace en- in the third division because
INC to!ine. - under local cnn;roj
created by loes! AUTHORITIES and sub.
aecs 10 local regulations"
The "tundame interest" in .bes.
che need OF society Tor or the e'i nroducts
being. In the nrst two classes wh her |
zosletg h =; mad made no sran, the free
mand protects the pubii npI in,s sHa Dc
.p,,puhlie Interest," Defined.
nh, uoac interest is defined in the
~ Is the right of the pubic 10 or. !
M or'n aop pstseT: eheaper or more products
permits the making OF more or better
ppodsct liz seFy TSs at lever COS, OF
.ts power OF regulation az TO dapriys
v ne 9Sner , OF ne p,ope7y OF his in
GENTLY made, or OF fair return on
such Investment.
amount wSIsh i pays ow more Than this
pront,. society pays more than i, law.
July is Feeuired 10 pay, and the owner
tf ,len 5, m.se inan he is lawfully en-
This" says the Plumb pian. intro.
dnees perpetual conflict between ~ So
actS IN Inc exercise OF this public
s e ana the agent it has created
n nGr us service, service. and results in sup
peyenue .uf for 5s and 5p1oeuring greater
'eHactions." ~ '"ese
uns sMiEA.s Of Labor. Di,sn-.ss.
nsosrr. the PIX, plan declares iha, the
S Sc depends entirely upon amount
Tie Is entitled 10 receive an euuivs len,
e Gtpopnt L. In value of the services OF
y,is huma ne lac, lac system disrcsards
s,h In It's eonclusion the resume declares
rasshn sss sroand oaT s5rs 1ys,em
bear no relation to the value OF sers
mess f5s'1'dersa and that profits are
rlnMsa sian. ,h enss must sys' ss absolute 1a
s sSsa nng,, between the three interes,se
can CA, people the true foundation for tho
CHS requires that the grant Of 50"
e s mH, nsI.,s. Q, srani; shall be deeasi
nsa.that Industry benefited by the grant:
shat the capital required to support
Sh0 ,iHoustrS SDalt Also be deemed
An Investment. Labor. the creative
power OF individuals employed. shall
pe deemed an investment
~. Profits Made By Society.
.f,'Society shall receive profits on :ts
Qnyestmcnt in tho shape OF better.
eheaper and more service.
-sSapital shall receive it's share in
E1aranteed protection OF investment.
nnd that current rate OF return which
inNthe markets of4the world, procures
Ghe acceptance at par of The securities
Witch represents Invested "a pital.
-Iabor shall receive as its return
Hron It's investmcnt of human cffort
ahet rate or wages which in the free
markets Of the world procures the SER
wee of that class OF labor. and, in
addition 10 wages. shall receive its
Ef2re of all the eavings which labor
CD eject IN The processes or pvoduc-
TN those industries which should
pFoperly be owned by the community.
aud where the capital employed In. $
am absolute guaranty OF intcgr and
-sturn. all OF the savings rejected in
eng greater productive power OF in
drsased efficiency should be evenly
dfrlded between the public and labor
aaeIn such industries employing pri-
vafe capital 10 render public service
IT, E=;sSs==s