The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1925-04-09
Figures Employers Are
Proud of Show Workers
Near the Poverty Line
BY J. LOUIS ENoDAHL.

TODAY the big capitalists and their abOr Ieutenants hail
the terra Of democracy in industry because the better
paid workers. with few nckes to spare buying share
two of stock in OF the big corporations Labors re-
dictionary ofcadom halls this insignificant phenome-
non lever by which workers py loose increased
wages shorter Workday and realize some of their other
demands on the Job.
But the National Financial News in its current issue,
gives Of the facts The number of stockholders it
shows has almost doubled during the postwar period from
1918 to 1925.
a selected of industries. in 1918 there were 1887
105 stockholders while this year these industries have
5,051 ,49o stockholders.
But let US see how they have been distributed In spite
jobs with these new chains only sss76o
stockholders to be found among the so-caIIed "em
holders-864, 754-among customers" while the far
greater number, than million 81 sso-stockhcId
ers come from the general public In this iaboree the
interests of the workers entirely submerged. Even
the employees" it has been shown that the stock
holders mostly the better-paid white collar slaves the
most reactonay force in industry the bosses pet strike
breakers To be sure this includes the labor arstocacy
like the members of the great railroad brotherhoods, who
have been urged by their officials invest any of their
spare cash in railroad stocks But the two other categoe
include the great capitalists, up their among the
comfortable bourgeoisie the middle class of the big
gest manstays of capitalism in its the working class
Take the railroads for instance: 7o262 stockholders
among employees, 45,oo3 among customers, and 2o3216
among the general public The sole aim of the railroad
corporation is to make profits for the quarter million stock
holders among customers and the general public" in
change in Wall Streets not to better the condition of the
workers. of the 10000 except those 10000
be used to keep the other hundreds of thousands in slavery
Blocks of empoye stockholders good breeding places
for scabs during strikes.
Perhaps the greatest propaganda campaign to sell stock
to employees has been waged by the traction interests yet
the National Financial News forced to admit that atho
the number OF stockholders in street railways in this country
has doubled since 1918, "ONLY A SMALL PART OF THIS
INCREASE HAS COME FROM EMPLOYEES OR CUSTOM
ERS."
The biggest why workers do buy stock is Of
that they haven't got the money to buy This fact
is neatly hidden in the figures showing deposits in
ngs accounts. The promoters of capitalist prosperity
1851 $50 savings accounts deposors there
January 2 1925 than three times that number &c.
669o4 accounts But the big fact that the average
count in 1918 about $15 while years later, this
year, it has fallen to half that amount or $40.
While the federal postal savings bank and the vast eff
forts of the private banks have drawn the workers loose
change of the proverba stocking shows that
the worker who has few pennies the thrifty" workers
that the capitalists brag about only few
months removed from the poverty line. These small
ngs of $500 $780, sometimes the savings of lifetime,
quickly eaten by periods of unemployment sudden wage
CUTS sickness other disability for which American
try does not provide
The worker-investor is myth. Some worker may take
plunge share of stock at 81 down and 81 per week.
because the National Finance News saws The bulk of
the stock sold employees bought the nstament plan
and the employee does not legally enter the list of stockod
until the period of instament payments is completed
THIS PERIOD GENERALLY RANGES ANYWHERE FROM
II MONTHS TO FIVE YEARS."
The worker doesn't invest because he needs every
of his wages provide the absolute necessities of life
himself and his family The wel-oied American capitalist
time realize this situation They will find the this
difficult problem in the teachings of Communism They will
be for the fight of the Workers (communist Party
against capitalism