The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-10-06
MEN AND MILLIONS

the remaining SO per cent are incapable of
purchasing the necessities Of life and culture.
This will involve increasing the power of the
laboring classes at the expense of speculative
banking. 1t will be reversal of the trend
of the last half century.
We have here group Of important books
which bring into clear relief the power and the
glory of the great speculative bankers set over
against the sad tale of labor's futile founder
ings until the NRA gave unionism some SEM
blance Of responsibility and some iota of public
support.
Lewis Lorwin and Miss F1exner have written
very useful and much needed book in The
American Federation of Labor; Its History,
Policies and Prospects" 1t is the first compe-
tent comprehensive and up-to-date history of
the American Federation of Labor, the most
powerful labor organization in our country
The authors are fair, but not sentimental.
Their excellent volume brings out both the
contributions and weaknesses of the fedora
ton.
On the positive side, we have the fact that
Gompers and the A. F. of L. took over the
labor movement when the knights of Labor
had fallen into disrepute and chaos and saved
unionism from temporary extinction The A.
F. of L. also did very good work for the skilled
laborers 1t built around them a powerful
labor group which was able to make some
Roadway in the face of plutocracy republican
ism and judicial animosity. For the two dec
AIDES after 1890, the federation was creditable
organization
Among the major defects of the federation
may be noted its failure to adapt itself to the
changed economic conditions and to espouse
national industrial unionism it's Inadequate
attention to the mass of unskiIled laborers: the
loose and incoherent character of its organiza-
ton and administration; the retention of
Gompers long after he had outlived his USE
fitness; the woeful absence of intelligent and
aggressive leadership since the World war; it's
opposition to labor party; and it's tendency
to be more friendly to capital than to radical
unions.
The American Federation of Labor has an
organization, a tradition and a momentum
which labor can i'll afford to lose This
should be conserved and made the corner stone
OF the future labor movement in this country
Unless, however, the American Federation of
Labor snaps out of the spirit and policies
OF the "gay nineties" and adopts itself to con-
temporary needs, it never can lead labor into
a position of power, dignity and security
The most critical test of the future power
of labor has come in connection with the ap-
plication of the collective bargaining sec
ton OF the NRA. Ordway Tead and Henry
G. Metcalf have brought out the only thor
ough study of the relation of the NRA to or
gained labor in Labor Relations Under the
Recovery Act 1t is a very readable and il
Illuminating book. 1t will need some revision
in the light of what has actually been done
by the administration since the volume was
written. Fortunately the NRA officials have
had less respect for company unions than the
authors and have made less concessions to
them than Tead and Metcalf apparently be-
lieved would be necessary and legal.
The main reason for urging greater con-
Germ for the income of laborers and farmers
is not sentimental or partisan one. 1t is the
immensely practical consideration that unless
the majority of the people have a reasonable
income they can not buy goods. If they can
not do so, capitalism winds up its career, gov
eminent aid or no government aid. The main
pilferers of the deserved income of farmers
and laborers have been the speculative bankers.
Guy w. Mallon advocates escape from
their exploitation by giving congress exclusive
control over money and credit and by issuing
a national dividend" to consumers for
period of two years to increase mass purchas-
ing power.
&c SC oil 10 fI1o 20.
but Mr.. Mallon overlooks the main source of
the banker menace to American society 1t
does not lie so much in the control over money
and credit as in speculative manipulations in
connection with holding companies, receiver
ships. mergers and other ways of gathering in
millions without any service to civilization.
The book needs to be supplemented by David
Coyle's brochure on Business VS.. Finance"
The most overwhelming picture ever drawn
of the manner in which bankers have ruined
consumers, and with this the capitalistic sys-
tenn is contained in Harvey OConnor's life
of Andrew William Mellon. Many will regard
it as a personal indictment of Mr.. Mellon.
But it is much more fundamentally an indict-
ment of American civilization today. One
can not blame Mellon for getting away with
his billions if he could. But we can 6enounce
a society which permits man to accumulate
over two billion dollars without rendering as
much positive service to mankind or civiliza-
ton as many poor inventor of scientist who
never earned more than $50 week in his life.
John Flynn asserts that the book ought
to be read by every American who wants to
know what is the matter with his country"
He is right. There is no other single volume
which will tell him quite as much on this
subject
Squirrels in Connecticut have begun mi
grating, according to an official report. Does