The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1920-07-22

lprice Of victory. Until this is met I
higher range Of costs will be the prizes
Of prosperity
. There has been and still is in some
cases a range of artifically high prices
which has not been caused by. but has
resulted in profiteering. There is bul
one sure remedy for this and that is
an increase in production. This is
always the result of long process
and its application requires patience
and forbearance. II can only be Sc
cured by the investment Of new capital
in enlarging our industries, or improv-
ing their methods, now a most difficult
operation by wiser management, or
t. more proficient application of
employees. Having in mind solely the
public welfare there is need Of a larg-
er realization of the benefit conferred
/ by the collection and investment of
capital, not to the owner of capital but
20 the user of its products. The norm
al return TO the owner OF invested
capital is small, somewhere between
five and ten per cent, but under the
principle of the division OF labor the
return to the user Of its products,
whether il be cloth or steel, or shoes or
transportation, comparing the cost Of
service received with the cost OF per-
forming the same services for himself
is often a thousand per cent. The
accumulation and investment Of cap
ital is the means of advance and COM
fort in modern civilization and what
ever arrests, discourages or prevents
it turns toward distress and barbar-
ism. Whoever the owners by the
nature of things no power can prevent
the capital invested in business enter
prises from inuring to the public ben
eft. Unless it serves it fails. Capital
and brains, investment and enterprise
are not the enemies and masters Of the
wage Garner but his friends and SER
wants.
But there is a deeper reason than
the high prices which have prevailed
in the immediate past Tor increased
production. Surplus is the source Of
economic progress. Public service Is i
the end of economic achievement. A
limited output at high price means
service to favored few. Large pro-
duction at a low price means service to
all, Whether engaged in or connived
at by employer or employe the one is
an attempt to levy tribute, the other
to respond to duty. The one will lead
to disaster, the other to success. This
universe is not so constituted that it
is profitable for man to be anything |
but his best. The encouragement of
accumulation, investment and the in
crease of production are to bring with
in the means of all the people the best
that the land affords as the protection
Of property is for the purpose not of
the powerful in its enjoy
ment but of protecting the weak in its
These are the sole
Of permanent diffusion and
Of wealth to be pursued
for the purpose of limiting individual
selfishnes9 and promoting disinterest-
ID public service.
There is another and even more
factor that has wrought a
,hange in our economic relationship
We have been preaching and engag-
ng in ? great crusade. Its purpose
las been to destroy despotism and pre- ;
,erve freedom. There has been a new I
firth Of freedom. There has been a
lew expression to the rights Of the I
a new realization Of the .
worth of man. All this has set a new
Of value on human service I
nan. There has been here a vast for q
ward movement the extent OF which .
las not yet been fully appreciated. G
To some il has been disappointing, '
irving them unrest and dissatisfac- a
ion. Ii any expected to find sltisfac- Z
ion merely in an enlarged income
hey were foredoomed TO dis. ppoint- I
nent Satisfaction does not come Z
rom safety or indulgence, It comes v
rom achievement. Greater liberty Z
oes not mean less responsibility, it Il
ieans more responsibility. That re- a
cannot be bone " '-arious- a
!. it must be borne by the in ividual.
I economically our citizens are to be D
Q longer cheap they must be no a
niger without responsibilities. As b
ew liberties come by submi sion so r
ew prosperity must come by submis- n
on. There is no advance which is i
q bought with a price Americans ),
elieve in q larger liberty, higher civ a,
lzation. a greater progre and v
rOsperity When the method Of Sc n
lring these + aid before them they =.
ave not and VIII not scruple to pay i
ie price. r.
America to Lead D.