Webster City freeman. [volume] (Webster City, Hamilton County, Iowa) 1884-1946, 1921-06-13
SAYS CAPITAL
N cans PROGRESS
E. H. Gary of U. S. Steel
Corporation Gives Talk
at Syracuse Uni
versity.
OTHERWISE ANARCHY
OTHERWISE ANARCHY
Only Alternative to Capital
Anarchy or Soviet
ism.
(By The Associated Press.)

Syracuse, N. Y, June BE. Fl.
! Gary, chairman of the board of direct
Ors of the United States Steel corpora
ton, told Syracuse university students
in commencement address today that
capital is necessary to the progress and
prosperity of every country and any
people The only alternative to it, he
declared, was the anarchy or Soviet
ism, now gnawing at the vitals of Rus
STA. This Russian system he described
as poison in the natural system Of
national and individual life which
would eventuate in destruction.
If the people Of America would study
the facts about this vital question, he
said, there would be no epidemic of
Sovietism here. Capital and the rights
of all people would be conserved.
In this country the door of Oppor-
tunity is open to both capital and lab
or and neither, he said, should be per.
mitted to abuse it.
He expressed the opinion that there
might be no objection to fair and rea-
sOnable law subjecting organized capt.
tai. exceeding certain amounts, to gov
ernmental inquiry and restriction in its
uses, provided organized labor should
also be subjected to the same statute"
Great Opportunity for Success.
Mr.. Gary began by pointing out that
the people of the United States have
the greatest opportunity for success in
every department of worthy endeavor.
The expression that the world owes
each individual living" was too
frequently used and it was foolish to
endeavor to support that claim by cit
ing the acknowledged principle that all
men are created free and equal. This
meant, he said. no more and no less
than, the right Of equal protection and
opportunity.
Speaking on the relations of capital
and labor, Mr.. Gary said that these
two interests recognize their indie
pendence but that outsiders often seek
to antagonize them. He declared, how
ever, that the majority of employers or
managers of business are more sole.
itOus for the welfare of the wOrkmen
and do more to promote their comfort
and happiness than outsiders ever have
done or were disposed to do. Labor
was never in the worlds history more
highly respected nor treated as liber-
ally as today. he declared. 1t had been
demonstrated to be profitable to the
employer to treat the workmen fairly |
and this would insure the latter full
justice.
Laying stress on the necessity Of cap |
ital he said: money is essential to pro-
vide facilities for preparing one to ac-
complish the best results in any pro-
fessiOn or calling. The material pro-
gress and prosperity of any and ev-
cry country are to an enormous extent
The result of large capital. Without
these the inhabitants would be neither
happy nor comfortable.
Facilitates Development.
Accumulated capital provides the
facilities for development, improve
nent. extension and application of nat
lral resources. This could not be done
~ small contributions of money" In
lines of war. Mr.. Gary declared. it !;
would have been impossible to have
'ully supplied the needs of the country
recourse to contributions by |:
arge capital.
"If 1t should he urged that accumu
ated wealth exceeding certain amounts
md possessed by organized capital
should be subjected to governmental in
luiry and restriction in its use, there
night be no objection to n fair and rea-
onable enactment covering this ques-
ion. provided organized labor should :
llsO be subjected to the same statute.
''The door of opportunity for legiti-
nate advancement is open to both capt.
al and labor Both should be greatful
or the privilege. Neither should be
permitted to abuse it."
G