The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-08-05
LAboR ENTERs nANkING.


Viewed as step in a program of
progressivism. the organization of a
national bank at Cleveland with cap
| ital of 100000 by the Brotherhood
OF Locomotive Engineers. presents a
significant phase of the labor move
ment in this country AS an isolated
development. the venture would COM
mand casual interest only. but as an
initial step in a Iabor-wfde movement.
it presents a basis for unlimited spec
ulation. The charter under which the
bank will be operated precludes the
cooperative system and will confine
it to the ordinary banking channels.
The radicals have always regarded
the banks as the bulwarks of privilege
and invested them with mysterious
powers. Consequently, the advent of
the unions into banking will have an
aspect of radicalism that will tend to
spike the arguments of the extremists
and tend to restore confidence in the
old time leadership. In unions like
the AmaIgamated Clothing Workers,
which has absolute control of the in
dustry for its ultimate goal, the bank
ing program appears to have more
practical and apparent value
The Brotherhoods are said to have
funds totaling s1s.OO0.00O or $4,000
coo and are by far the richest of the
labor unions. but the Clothing Work
ers who are not affiliated with the
American Federation of Labor, are
rapidly winning a place beside the
Brotherhoods in the aristocracy of la
Dor. The rise of the Clothing Workers
to affIuence is perhaps unparalleled
in the history of such movements. A
few years ago the men and women
who composed the union were the de-
spised sweatshop toilers. and now they
are among the highest paid workers
in the country.
Naturally these radicals, for until
radicals, are being won away from the
revolution. They have tasted money
and have liked it, and under the di-
rection of leadership that is above all
practical. they are headed for the
softest spot available. Their bank has
not been organized, but it is being
planned and Will possibly be the next
to come into public notice. This bank
will form the basis of an alleged CO.
operative movement which will in
reality mask the first big venture in
industrialism and unionism. that is, if
the carefully worked out plans do not
miscarry.
The Clothing Workers were once the
backbone of socialism; now they are
in the forefront OF industrial union
ism, which is the antithesis of social
ism. Their conversion resulted from
their discovery of the power of organ->
ization as method of exploitation of
their fellows, and having lived on the
best and having the power to continue
to demand the best, they no longer
favor a general level of society. Their
bank will probably be used for the ac-
cumulation of funds against the time
when the workers are ready to enter
the clothing industry as manufactur-
ers. These funds will also be available
for the use of capitalist manufacturers
who cooperate with the unions UIti-
mately, 1t is their hope, every man and
woman who wears clothes will paw
tribute, and heavy tribute, to the one
time oppressed East Slider.
At any rate, says the American Ex-
change National bank, commenting on
the subject, the entire movement is
relatively conservative, as it would
nave to be where the Clothing Work
ers are concerned, for the extreme rad
icais want to go back to a primitive
state in which men could live on nuts
and wear fig leaves, and the Clothing
workers are naturally not for that
program. They propose to make and
sell all the clothing their fellows will
buy and thereby absorb as much. of
the said fellows income as possible.
and they think a Clothing workers
bank will help them attain their ideal.