, 1921-12-06
PRESIDENT HARDINC'S MESSAGE

ESSACE
land sre low far ons the way to the
elimination of poverty.
Thought h eradication of filter
acy and the diffusion Of education.
mankind has reached a stare where
we may fairly say TINT IN the Unit
ed States equality OF opportunity has
been attained. though all arc not pre-.
pared to embrace IL. There Is indeed.
a too great divergence between the
economic conditions Of the most and
the least favored classes in tho com
munity. But even'thst divergence has
now come to the point where we
bracket hat very poor and the very
r.ch together as the least fortunate
.fcissses. Our efforts may well be dr.
rected to improving the status OF
both.
While this set OF problems Is COM
monty c~omprehended under h gener
a. phrase capital and labor" Il Is
really justly broader. 1t is n question
of social and economic organization
Labor has become a large contributor
through its savings. TO h stock Of
capital: while. the people who own the
lsrgest tndi. idual aggregates OF cap
ltal. are themselves often hard and
earnest iaborers. Very often It is cx-
tremely difficult to draw the line of
| demarcation between h two groups
TO determine whether a particular in
| aividuai is entitled TO be set down as
laborer or as CAPITALIST. In a very
large proportion Or cases he Is both,
and when he is both. he is the most
useful citizen.
LABOR,s RIGHT TO
ORGANIZE RECOGNIZED.
Tho right OF labor TO organize IS
| Just as fundamental and necessary as
g the right of capital to organize This
| right OF labor to negotiate. to desl
with and solve Its particular problems,
in an organized way. through its
| chosen agents. is just as essential as
is the right of capital to organize. &c
MAINTAIN corporations. to limit the liza
billty OF tho citizen as a member of u
iabor organization closely parallels
| the limitation of liability of the citi-
zen as a stockholder in n corporation
FOR profit. Along this line of reason
ing we shall MAKE the greatest pro
gress toward solution OF our prob
lem OF capital and labor.
In the case OF the corporation which
| enjoys the privilege OF limited liabil-
ity OF stockholders. particularly when
! ,ngaged in the public service 1t Is rec
| og1iized that the outside public has a
| 'arge concern which must be protect
| ed; and so we provide regulations. re
| str.ctions, and in some cases detailed
supervision. Likewise in the case OF
labor organizations we might well
apply similar and equally wei defined
/ principles of regulation and upper
| vision in order to conserve the public's
interests as affected by their opera
tons.
UNDUE EXACTIONS NOT
TO BE TOLERATED.
Just as it is not desirable that a
corporation shall be allowed to i'm
pose undue emotions upon the pub
lie. so It is not desirable that a Ia
Dor organization shall be permitted to
exact unfair terms of employment or
subject the public to actual distrcsses
in order to enforce its terms. Final
] ~ just as we are earnestly seeking
= FOR procedures whereby 10 adjust and
settie political differences between
nations without resort to war, so we
may we'll look about for means TO
settle h differences between organ
lied capital and organized labor with
out resort to those forms of warfare
which we recognize under the names
of strikes, lockouts, boycotts and the
like.
AS We have great bodies Of law
carefully regulating the organization
and operations of Industrial and fl
nanciai corporations, n we have
treaties and compacts among nations
which look to the settlement Of diff
ferences without the necessity of con-
fict Ia arms. SO we might well have
plans Of conference. of common coun-
sci. of mediation. arbitration n judi
cial determination in controversies be-
tween labor and capital. To accom-
plish this would involve the necessity
to develop a thorough.going cod of
practice in dealing with such affairs.
It might be we'll to frankly set forth
the superior interest of the commune
ity as a whole to either the labor
group of the capital group. With
rights, privileges. immunities and
modes of organizations thus careful
ly defined, it should be possible to
set up judicial or quasi-judicial trib-
unals for the consideration and de-
termination of all disputes which
menace the public welfare.
STRIKES IN INDUSTRY
EQUAL WAR IN POLITICS.
In an Industrial society such as
ours, the strike. the lockout and the
boycott are as much out of place and
as disastrous in their results as is
war or armed revolution in the do
main of politics. The same disposi-
ton to reasonableness. to Cancellation.
to recognition OF the other sides
point of veiw. the same provision OF
fair and recognized tribunals, and pro
~cesses. ought to make it possible TO
solve the one set of questions as easy
as the other.
I believe solution is possible.
The consideration of such a policy