The Mt. Sterling advocate., 1922-09-12
GOVERNMENT CONTROL
OF THE COAL MIN

ehC oHg 10y tat - toI lHe tONcru-
ment to take over the mines" and in
the next breath asserts that "the
proposals so far made to that end
are probably Unconstitutional and
specify no satisfactory plan Of con-
troll" Even were the proposals con-
stitutional. it is doubtful. in the light
of the public experience with govern
ment control of the railroads, II ever
a satisfactory plan could be worked
out. Here in Kentucky the investiga-
tor finds and viii continue to find the
prayer of the consumer to be: "Oh.
Lord. deliver us from government
control" Many of the people with
whom this writer has discussed the
subject of coal appear to be certain
of two things, namely. under govern
ment control, coal would be no cheap
er and coal would be more difficult to
get.
This same journal commnets that
Henry Ford is closing his factories
because of the exorbitant provteering
as coal mining is resumed" This
brought forth the following from a
Kentucky mine owner: The late
Frances S. Peabody. of Chicago, who
was great factor in the mining and
distribution of coal. recently made a
report to the Federated American
Engineering Societies. in the course |
of which he stated that there are in |
the United States 10000 coal mines
representing an investment of $1,000 !
100000. He fixed the annual output |
of these mines to be approximately |
500000,0 900 tons. Under the Hoover !,
fair prices the coal operators were |
allowed a gross profit of about so |
cents per ton, which would. under
normal conditions make the annual
gross profit for the several thousand |
owners of the 10000 mines approx
mately $250,0O0,OO0.
There recently was published
statement of the financial affairs of
the Ford Motor Company, which is
now the property of Henry Ford and
his family, they having bought the in
terests of others. The balance sheet
of that company, filed with the Mich
igan secretary of state as of June 30,
1922, shows it to have assets amount
ing to S4O9,S20,133 Its surplus is
stated to be s2S9 1885. .296, and it has
cash to the amount of $145,9S5, ,669.
The total amount invested in plant,
land, buildings. machinery, tools, mer-
chandise, supplies, etc., is given as
$117,2O2,215.
Now, the point ! wish to make is
that Henry Ford, out of an invest
ment of less than 100000, is earn
ing more than one-half the sum earn
ed under Hoover fair prices by the
owners of the 10000 coal mines in
the United States, representing an
ten times greater than
that of the Ford Motor Company, and
yet / have never heard that any coal
mine owner has accused Henry Ford ,
of profiteering.
Speaking of profiteering, the Ma
ton comments that 'the politicians
at Washington and the state capitals
are staging a few scenes in the end
less comedy of protecting the public /,
from profiteering," and goes ON to
say: The last scene was Mr.. Hoo
ver's voluntary agreement among
he non-union operators not to prof
teer. Then they multiplied coal
prices five or six times"
That isn't what Mr.. Hoover says
lbout the results of that voluntary
agreement. In his letter to Senator
3orah, he said the majority of the
operators who went into that agree
nent denied themselves literally
nilions of dollars that they could
lave obtained if it we're not for their
lesire to maintain themselves and
heir industry in public repute." N
In kilograms sent recently by the
Hazard Coal Operators Association
o Kentucky's congressional delega- e,
ion at Washington, the charge was r,
made that shippers { not operators) fe
t the head of the lakes had reloaded Il
nd shipped coal to Cleveland, where tt
was sold for profteering prices Sc
Kentucky mine operators have all b,
long stated the coal problems to be r,
nerely a problem of transportation. d;
nd the truth of this claim now is ap- %
aren't N
Give us cars and we win give you m
oal," continues to be their slogan It
'homas b. Cromwell. an
- -,
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