The Connecticut labor news., 1923-08-18

thought some of the people meant to conhscate all property.
 As part of this discussion we have had many attempts at regulation of industrial activity by law. Some of it has proceeded on the theory that if those who enjoyed material prosperity used 1t for wrong purposes such pros pertiy should be limited or abolished.
 That is as sound as it would be to abolish writing to prevent forgery.
 Guilt Is Personal.
 We need to keep forever in mind that guilt IS personal; if there is to be punishment let 1t fall on the evil doer, let us not condemn the instru- ment- We need power. Is the steam swift? Can any prosperity be too great? Can any instrument of com merce or industry even be too power ful to serve the public needs?
 What then of the antitrust laws The great outstanding fact in the eco homie life Of America Is that the wealth of the nation is owned by the people of the nation. The stockhold- CTS of the great corporations run into the hundreds of thousands; the small tradesmen, the thrifty householders, the tillers of the soil, the depositors in savings banks and the now owners of Government bonds make number that includes nearly our entire people.
 Most of LIS earn our livelihood through some form of employment More and more of our people are in possession of-some part of the wages of yesterday and so are investors This IS the ideal economic condition.
 The great aim of our Government Is to protect the weak-to aid them to become strong How can our peo- pie be made strong? Only as they draw their strength from our indus tries. How can they do that? Only by building up our industries and making them strong. This is funda- mental: It is the place to begin. These are the instruments of all our achievement. When they fail, all fails. When they prosper, all pros. per- Workmen's compensation, hours and conditions of labor are cold con- if there be no employment And employment can be had only if some one finds 1t profitable The greater the profit the greater the wages.
 Economic Lesson of War.
 This Is one of the economic lessons of the war Justice and the general welfare go hand in hand Government had to take over our transportation interests in order to do such justice to them that they could pay their and carry our merchandise They have been so restricted lest they do harm that they become unable to do good. Their surplus was gone and we New Englanders had to do with out coal. Seeing now more clearly than before the true interests of wage investor ,and the public, which is the consumer, we shall hereafter be willing to pay the price and secure the benefits of justice to all these CO ordinate interests.
 Assemblances of wealth are broken ID because they were assembled for an unlawful purpose. It IS the pur- pose that is condemned. You men who represent our industries can see that there is the same right to dis pr power that there Is to disperse a mob that has met to lynch or riot. But that principle does not denounce own meetings or prayer meetings
 We have established here democ- -acy on the principle that all men Ire created equal It is our endeavor :o extend equal blessings to all. It ,an be done approximately If we es- ablish the correct standards. We are coming to see that we are dependent 1pon commercial and industrial pros oerity not only for the creation of wealth but for the solving of the great problem of the distribution of wealth There Is just one condftoin on which men can secure employment and a lying, nourishing, profitable wage for whatever they contribute to the enter prise, be 1t labor or capital, and that l condition IS that some one make a I profit by it. That is the sound basis | or the distribution of wealth and the | ,nly one It cannot be done by law, t cannot be done by public owner hip, 1t cannot be done by socialism. | When you deny the right to profit | you deny the right of reward to l hrift and industry.
 Law Works Both Ways.
 The scientists tell us that the same orce that rounds the teardrop molds l he earth. Physical laws have their | lnalogy in social and industrial life | The law that builds up the people is | he law that builds up industry. What | ,riee could the millions who have ound the inestimable blessings of l American citizenship around our great industrial centers, after coming here | rom lands of oppression, afford to 1 ,ay to those who organized those in lustries? Shall we not recognize the sreat service they have done the cause # humanity? Have we not seen what | lappens to industry, to transporta-I ion, to all commercial activity which