The Indianapolis times., 1931-09-18

Upon the forward-ooking thought and initiative
of great ndustraiss hangs the fate of capitalstic
democracy. That so many American leaders of in
dustry now are realizing this and acting on it is
the most hopeful of all current signs
Wednesday, Gerard Swope president of the Cen
eral Electric Company talked to the National Elec
trca Manufacturers Association the stabilization
of industry. What he said might have sounded, to
Mortified ears of an older generation, like the doom
of competition, the triumph of socialism with
capital IS"
But thanks be, we have progressed far beyond
that generation. We can spee socialism today with
a small IS" and without shudder We accept sound
socialistic principles like workmens compensation and
old age pensions as natural developments in enlight
ened democracy. And the old economic theories of
cutthroat competition and devltake- the -hindmost
already seem barbarous
Therefore, when Mr.. Swope urges the formation
of great trade associations representing employers
and employees which shall outline trade practices
establish methods of standard accounting, stabilize
prices and employment and in fact. control produc
ton in each industry, few will shriek the old pro-
tests in the once sacred name of competition.
Nor is his insistence that the participating COM
panies in each industry must adopt employe plans
providing for life and disability insurance, pensions
and unemployment insurance anything to dismay pro-
gressive employers of this era.
Under the system proposed, "if worker for some
good reason left his original employer and went into
the service of another he would not thereby
forfeit his pension, his insurance his unemployment
insurance contributions his status under work
mems compensation"
All these accumulated gains would be transferred
along with the worker. Security and stability of en-
ployment thereby would be increased.
Mr. Swope would have each and all of these trade
FaJa~
commission or a bureau of the department of COM
merce or some federal supervisory body specially
constituted.
Here then from another head of one of the biggest
companies in one of the countrys biggest industries
is a plan 1t is a plan for employers to study 1t is
a plan for organized labor to ponder-for much would
depend upon willingness of labor unions to adjust
themselves to it. In detail it may be improved In
spirit no fault can be found with it.
For it is based on the new nevermore to be sur
rendered principle that the continuous security and
we'll being of millions of workers is every ota i'm
portant as the profits and dividends of capital that
employs them. 1t is the rational socialism of
industry by industry itself. But that is not So
ciasm any intelligent twentieth century mind fears
The issue as We understand it, is this
If depreSsions to be prevented and profits and
Jobs stabilized the old rugged indvidualsm" must
give way to Industrial planning. Industrial planning
is possible only on national scale-otherwse the
stupid or selfish employer wrecks the enlightened en-
ployer and the industry's plan.
Industrial planning be brought about either
voluntarily by industry ITSELF by governmental
coercion The first way is the better way. But if it
does not come that way in time the government will
have to step in.
In rraisng the Swope plan We have only one
reservation to make-and that indeed is inherent in
the plan as described by Mr.. Swope and Mr. Young.
It is that abors right of organization be unrestricted
and that the government must have adequately In
ss