The daily star-mirror. (Moscow, Idaho) 1911-1939, 1921-09-28
CAPITAL and LABOR
MUST LEARN THRIFT

| Chicago, lll.-(By A. P)=That a
new dawn in America for both cap
ital and labor when the lesson of
thrift has been learned and is prop
erly applied in industry was the con-
ItentiOn of Orrin Lester, of the treas
ury department, in an address to-
night before the annual convention
Iof the international Lyceum and
lChautauqua association. Financial
independence of the average citizen
Mr.. Lester said is just as necessary
to human happiness and a perfect
democracy as political independence
When industry recognizes that
saving money is essential to a COM
plete industrial SYSTEM continued
Mr. Lester, I'VE shall have new
STANDARD by which to determine
wages and profits and a new basis
upon which to approach industrial
| controversies. This question of say
ing money effects the very fabric of
our industries, and is just as essen
tial to the welfare of the Nation to-
day as during the period of the war
emergency.
Men who lead mobs in violation
of the law and the soap-box orator
who condemns the institutions of our
and of Liberty Bonds, and they do not
have bank accounts. This thing we
call BOlshevism cannot live in the
sunlight of 100 per cent democracy.
and I cannot think of any better ex-
ample that good Americans can set
for BOlshevistic element in this coun-
try than that we establish a condi-
t1on of universal, financial independ- |
ence by creating capital in the hands |
OF all good Americans through the |
process of systematic saving Of |
money!
Need for the revival of the spirit |
of 1918, when the wage-earners and
small savers of America invested |
nearly one billion dollars in the
small government securities, was en-
phasized by Mr.. Lester. Winning the
war, he said was then the great in
centive which prompted the people to
respond SO generously and whole
heartedly to the Governments ap-
peal. Some peace-time slogan must
be found, he suggested, which will
again arouse the people to the neces-
sity of systematic saving and wise
spending.
"The success which men ana
women have at a job or in a bust
ness,' Mr.. Lester continued, Cannot
be measured by how much they earn
but by how much they save. Earn
lngs are transient, savings are perma-
nent. We can never settle the in
dustrial controversies of nation by
raising and reducing wages or by in
creasing and curtailing profits En-
ployers and employees have tried too
long to settle their controversies by
their differences. I be-
lieve that these questions will not be
settled until Employers and employees
go back of the question of wages and
profits and discuss the more funda-
mental questions of the service which l
should render to the public s
and the permanent reward which t
should come to both employer and '
employee as result of their labor t
or their capital" I
America is today demanding that
men who have successfully managed T
heir private affairs, Mr.. Lester as t
serted, be named as public officials s
o apply the same principles Of econ
my to the management of the ma
ions business. He cited as an ex- a
lmple, the appointment by President b
Harding of General Charles G.
Dawes, of Chicago, as Director of the 4
Budget, mot because Of his public
areer, but because of his private sue
ess" +
1--WE are coming to realize" he
aid, that no institution is too sacred d
o manage it's affairs on sound
conomic basis. The time will come
yhen we will have the courage to say t
hat if schools and clubs and church s
8 and other social institutions over T
ap each other in their activities and I
hereby waste public money, we o
hould apply the same test of econ o
my to them that we are applying to F
government and that is applied to g
ommercial business. v
"This question of managing our e
ersonal affairs successfully, and of d
aving some part of our incomes may G
e the key to the solution Of the tt
reat economic questions of the ma 81
ion.
M. G.. Donaldson of Lewiston was C