Evening journal., 1921-12-06

to the elimination Of poverty.
Through the eradication of il /
literacy and the diffusion of edu-
cation, mankind has reached a |
stage where we may fairly say I
that in the United States, equality |
OF opportunity has been attained /
though all are not prepared to
embrace It There is, indeed, a
too great divergence between the
economic conditions Of the most
and least favored classes. But
even that divergence has now
come to the point where we
bracket the very poor and rich
together as the least fortunate
classes. Our efforts may well be
directed to improve the status Of
both. While this set of problems,
is commonly comprehended under
the general phrase, capital and
labor" it is really vastly broader.
II is a question of social and eco
nomic organization. Labor has
become a large contributor
through its savings to the stock
of capital; while the people who
own the largest individual aggre-
gates of capital are themselves
often hard and earnest laborers.
Very often 1t is difficult to draw
the line Of demarcation between
the two groups to determine
whether a particular individual is
entitled TO be set down as Ia
borer or capitalist. In large
proportion of cases he Is both anu
when he is both, he is the most
useful citizen.
The right Of labor 20 organize Is
inst as fundamental and necessary
as is the right of capital 10 or
ranize. The right of labor to ne
gotiate TO deal with and solve us
particular problems in an organ.
lied way through its CHOSEN
agents is Just as essential as Is the
right of capital to organize TO
maintain corporations. TO limit the
liabilities of stockholders IN
deed we have come to recognize
mat the limited liability of cltl-
Yen as a member Of a labor organ
ization closely parallels the llfnl-
cation of stocxholder in a corpora
tion for proht. Along this line Oh
reasoning we shall make the
greatest progress toward solution
~ the problem OF capital ana
labor. -.,.,,
In the case OF the corporation
which enjoys the privilege OF nm
tied liability OF stockholders par
ticularly when engaged in the
nublic service, it is recognized thal
the outside public has a large con
corn which must be protected anu
so we provide regulations restrlc-
tions and in some cases detalleu
supervislon. Likewise in the caae
~ the organization, we might Wei
onniv similar and equally well de-
fned principles Of regulation anu
supervision in order to conselV.'
the pubiic's interests as alee'e /
by the operation.
Inst as il is not desirable that
a corporation shall be allowed 10
fmnose undue exactions upon the
nuhiic so A. Is not desirable that
n tobor organization shall be per-
r,ttted 70 exact unfair terms OF
unemployment or subject the pun
lie 10 actual distress in order 70
enforce its terms. Finally just as
we are earnestly seeking for pro
cedure whereby TO adjust ana set
tle politicai difficulties betweei
nations without resort to war; 81
VOC NAV we'll look about FOR mean
90 cattle difficulties between organ
tood ropltal and organized laboi
without resort TO those forms .
warfare which we recognize unoe'
tho name Of strike, lockouts an'
boycotts ,
he we have great bodies or law
carefully regulating the organiza
! tion and operations OF industrla
a,d financial corporations as w
baVe treaties and compaets amonl
notions which look to the settle
mont OF difficulties with the neces
sitv Of conflict in arms, so w
might we'll have plans of confer
oncc Of common council OF medi
alton, and judicial Discriminate
in controversies between lapor an an
oapital. To accomplish TINS woui
Involve the necessity to develop
tborough-going code Of practic
! ~ aeaiing with such affairs.
,,,isht he well to frankly set FORT
tho sunerior interest OF the com
ra,,,itv as a whole 10 either the Ia
No. group or the capital grouI
win rights. privileges. immunl
Vos ana modes OF organizatlo
fhus carefully denned It should o
noesible TO set up judicial or auasi
judicial tribunals FOR the cohsiuSl
alton and determination OF al eis .
nutes which menace the puoii
welfare. -, ,
In an industrial society such a
orre the strike, the lockout an
tne bovcott are as much out G
rtecc and as disastrous IN the re
ants as is war or armed revolt
+io, In the domain OF politics. ~
same disposition to reasonable
nc-s to Cancellation, to recogn
tion of other sides point to vieV
re- como provision OF far and rec
ognized tribunals and process
ought 10 make II possible 10 solV
the one set Of questions as easll
as the other. 1 believe the solt
, ton Is possible.
The consideration OF such
motley would necessitate the g
ercise OF care and deliberation
tho construction OF a code ana
charter Of elemental rights dea
ing with the relations OF en-
4 pioyer and employe. This found'
= lion I'm the law dealing with III
modern conditions Of social an
r economic life would hasten q
building OF the temple Of pea'
5 in industry which a rejoicing nj
4 ton would acclaim.