Imperial Valley press., 1944-10-06

/ those receiving something from the
Civil War. the Spanish War and
World War I as we'll as those who
will have been in World War II.
The general feeling is that the
labor unions will control our democ-
racy. Businessmen and investors
are especially fearful of the power
of labor. This does not worry me for
two reaSonS-firSt, because the his
tory of the labor movement in Eng
land shows that after labor gets
everything organized it has nothing
to fight for without cutting its own
throat. Therefore, labor then no
longer becomes front-page news
item. while the labor leaders find
they can make more money at some
other line of work.
is COMMODITY
The second reason why I am not
worried about the power of labor
is because, in the last analysis, labor
is a commodity whether we like to
admit it or not. My friend Sidney
Hillman will not agree with me on
this point; but he is wrong. Labor
today is powerful because labor is
scarce but later. when the supply
OF labor exceeds the demand labor's
power will be nil. The membership
of the unions will then again drop
off; while the income of the labor
leaders will then tumble as did the !
profits of Wall Street brokers in |
1929 Labor's influence is now at its |
peak for this cycle. It's honeymoon |
is about over.
Present indications are that the
World War II veterans will not be
very friendly to labor after their
return. They, who have been riSking
their lives in foreign lands at
small pittance and living under the
hardest imaginable conditions, nat
urally will not feel friendly to these
who have been remaining at home
with all the home comforts and the
highest wages in history. If labor
has sense enough to keep out of
politics and quit asking for any
favors after the boys return, very
we'll. If, however, labor continues a
postwar struggle for higher wages,
more power and other benefits,
there is bound to be trouble.
CONSERVATIVE MINDED
The above should mean that the
returning veterans may be a con-
servative influence. The veterans
bloc may unite with the conserva-
tive bloc and keep the ship of state
off the rocks. If so. the money
which businessmen and investors.
through taxes, will pay for pensions
may be good insurance. Hence, al
though taxes will continue high in
the postwar era due to the tremen-
dous pension bill, army and navy
appropriations, etc, yet these may.
be good investments. In this world,
it is really not a question of what
we spend, but what we have left.
Business, commodity prices and
the stock market will have Com
munism scare some day. From my
knowledge of Russia and England,
it would not be surprising if real
friction should develop. Neither
country is in this war for its health.
Both want a portion of the swag
and perhaps the same portion. Then
the United States may be called
upon to take sides. This future situ-
alton might easily become the cul-
mination of the present bull move
ment.
Businessmen and investors will
then get panicky and run for cover, |
but I believe there will be nothing |
for us to fear. Although Russia may
then have the army to take what
she wishes in land, she will want
loans also. Great Britain and
America will continue to hold the
purse strings. Our returning service
men will not only be bulwark
against unfair labor demands, but
they will also stand for free enter
prise, not Communism. They should
be a stabilizing influence on legiti-
mate business and investments, ia
voring the good features of coopera- |
ton; but Suppressing all unfair !