South Bend news-times. (South Bend, Ind.) 1913-1938, 1921-04-14
Other Editors Than Ours
PSYCHOLOGY IN ECONOMICS.
(Nexy Work VIuas

The British premier has his countrymen behind
him in his contest with the unions solidly
had the unions behind him when he subsidized them
on the eve OF the world war Now Lloyd George
tells his troublesome benehoaries that they misua-
derstand the psychology OF their eountrymen IL
they think that they be frightened into eonces-
sions There Is a lesson TO us here in tracing the
steps by which Lloyd George has with
his former proteges The warning Is not to MAKE
mistakes like his in misund nding the psy-
choogy OF those who make demands with violence.
This is not wisdom after the event. The British
Industrial future was accurately foreseen on this
side the Atlantic 1t would be easy TO quote the
specific warning of the Times years ago.
Americans generally took the view best expressed
by James ]. Hill In 1914. AT the National Trade con-
vention he said: THE false humantaranism OF
british social legislation is going TO destroy British
trade commerce and industry" Lloyd George had
mixed his economics and politics to the degree of
thinking that IL benefited England to distribute
blessings by taxation He increased the income and
inheritance taxes, and others in order to dishurse
more than a hundred million dollars as exchange
then reckoned. in old age pensions insurance
and other benefits to the workers. whose policy OF
limiting production and raising wages ruthless
in its effects on British industry and trade. The
merits OF that policy would have been less disputa-
ble II the overtures to the deserving had met fit
response. What shall DE said of its results when the
cable brings the news that the benefcaries are
clutehing the nation by the throat?
The pre-war hundred millions only al
petizer Subsidies pensions and other gratuities
in OF billion dollars large portion Of
the population rely on taxes for part OF their
of production 10 maintain In the coal indus
Try there is question OF capital absorbing laboT's
share. for the government has been providing
deficit OF earnings of S2o,00oO00 monthly. I'VE
want American wages" say the workers. One way
10 get them perhaps the only way, would show
profit wages.
Addressing his shareholders, the head OF OF
the British banks said; If go taxing the in
dustries for the sake OF the idle the end will be
tional ruin and bankruptcy" And Yet there are
those among who admire the eeauenee with
which Lloyd George repudiated the warnings OF Mr.
Hin. saying: The power that governs the world
does not punish with bankruI toy and ruin nations
that do kndneSses 10 the Old the feeble, the broken
and the sick &" The great democracies of the
watching this social legislation in British
with new hope"
That is not just the way in which we should nov
express the sentiments with which this country is
watching British current We think better or
American workers than the British. and better too
OF American capitalists. In England they seem bent
running each other Here they disposed to
cooperate and settle differences by negotiations
rom every point Of view Americans earnestly hope
that England will reject the dangerous doctrine
that government ia earthly Providence, bestow-
ing gifts at the ccst Of others.