New Britain herald., 1921-06-13
CAPITAL NECESSARY
 IF COUNTRY LIVES
Gary Also Defends Open Shop in
 Syracuse Address

Syracuse, N. l., June 13.-E. ii. Gary. chairman of the Board of Di' re ctors of the United States Steel Cor poration,told Syracuse University stu dents in a commencement address to- day that capital is necessary to the progress and prosperity of every coun try and any people. The only alterna- tive 10 it. he declared. was the an archy or Sovletism now gnawing at the vitals of Russia. This Russian system he described as a poison in the natural system of national and indi- vidual life which would eventuate in destruction.
 If the people of America would study the facts about this vital ques- ton. he said. there would be no cpl demic of Sovietism here. Capital and the rights of all people would be con served.
 Tn this country the door of oppor- tunity is open to both capital and Ia hor. and neither.he said should be-per- mitted 10 abuse it.
 He expressed the opinion that there might be no objection to fair and reasonable law subtecting organized capital exceeding certain amounts, to governmental inquiry and restriction in it's uses. provided organized labor should also be subjected to the same statute"
 Great Opportunities.
 MT. Gary began by pointing out that the people of the United States have the greatest opportunity for success in every department of worthy endea, or. The expression that the world owes each individual a living" was too fre- ptI f IfGh fn deavor to support that claim by citing 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 of the relations of capital and labor, Mir Gary said that these two interests recognize their interde- pendence but that outsiders often seek to antagonize them. He declared. however. that the majority of employ CTS or managers of business aIc more solicitous for the welfare of the work men 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 librally as today, he declared. It had been demonstrated to be profita ble to the employer to treat the workmen fairly and this would insure the lat ter full justice.
 Money Is Essential. Laying stress on the necessity of capital he said: Money is essential to provide facilities for preparing one to accomplish th best results in any pro- fession or calling. The material pro press and prosperity of any and every country are 10 an enormous extent the result of large capital. Without these | the inha bitants would be neither hap | py nor comfortable.
 Accumulated capital provides the facilities. for development. improve ment. extension and application of | natural resources. This could not be done by small contributions of money" In times of war. MT. Gary declared. 1t would have been impos sible to have fully supplied the needs of the country without recourse to contribution by large capital. l Except for the accumulated capi- | tai invested in business enterprises and the working capital to maintain and | extend them." MT. Gary continued, millions of men and women who 1 work for wages or salaries would be | without chance to earn a decent liv- ing. To the extent a nation is without capital in a corresponding degree are | it's industries in a state of decay and its people impoverished and despond- | ent.
 Tn short. for a desirable and prop CT degree of comfort. contentment, l happiness. advancement in any direc- tion, protection against disease and | destruction, every inhabitant of every land is dependent upon indi- ! vidually accumulated capital, 1 The only alternative which has been suggested is that the govern 'ment shall forcibly take possession and control of all capital and dis tribute the income derived from it amongst the people per capita. This would inject into the natural system of national and individual life a poi son which would eyentuate in destruc- ton. 1t wouldf smother ambition. enervate the body, remove competi- ton for legitimate success in every line of activity, destroy incentive for development and progress and create a nation Of laggards, weddings and paupers. Slight motive for succeed ing in any natural and honest direc- ton would exist if the final results were to be applied for the equal ben eft of others.
 Rights Of Individuals
 "Growing out of the illogical and lcondemnatory doctrine above de-