New Britain Herald Newspaper, February 3, 1923, Page 13

MODERN CAPITALISM AND SOCIALISM STEINMETZ DECLARES ARE THE SAME, Electrical Wizard Describes to Babson Institute New Method of Running Govt, and Business, Wellesley Hills, Mass, Feb, 3, There may not seem to he any direet connection beiween alternating elee- tric eurrents and human emetions That the two are gdverned by the same basie laws, hewever, is again evidenced by the faet that Dr. Charles I’ Bteinmets, has turned his genius from things electrical to the problom of human relations. This "ittle giant of Seheneetady' has fol en an apparatus just com- ploled that generates an electrie our. rent of one million volts,, actually manufactures real lightning to the working out of & new Industrial sys- tem, His plan 1s outlined in completo form for the first time in a statement to Babson Institute, at Waellesley Hills, where the leading thinkers of the country are pooling their energios that the disastrous booms and panics ~=periods of wild prosperity and then periods of bread lines may he lessen. ed it not neutralized in American ©economic life, Capitalism—Soclalism Same “True capitalism and true socialism are one and the same,” beging Dr, Stelnmetz "and that s a startling statement from a man who has been & political fugitive because of his spclalistic and supposedly anti-capl- talistic bellefs, “Originally capitalism meant indi- vidual control,” continued Dr. Stein- metz, “With each for himself and the Devil take the hindmost. Origin- ally soclalism means communistic control with property under common ownership. Changed conditions have, however, changed the alms of both capitalism and soclalism. Both of these apparently opposite groups have gradually been coming together, ‘Where formaully they disagreed both as to aims and methods, they now arg agreed as to aims and differ only as to the best method of bringing about this mutually desired result. We make the mistake of thinking of capitalism and socialism as they existed a gen- eration or more ago and not as they are working today. Capitalism once was synonomous with individualism and hence the capitalist hated the socialist. Now conditions have chang- ed, and capital is as keen for cen- tralized control as are the most ad- vanced socialist leaders. Both Seck Same Thing ““The representatives of both capi- talism and socialism are today seeking the same things namely the unified control of industry by a small group whaq, make such work their life's spe- cialty. The only parties who do not agree are the conscrvative union lah- ormen led by Mr. Gompers and_the radical politicians led by Mr, La¥ol- lette. The orthodox union labor lead- ers are merely traders thinking pri- marily of their own immediate inter- ests, junmindful of the public's wel- fare or the union’s welfare in the long run. They think in terms of ‘wages and bonus rather than in terms of production and commodities. They depend for their gain on bargaining and striking rather than on efficiency and ‘usefulness. Their policies may be necessary ‘war’ measures; but no real prosperity can be built upon such a fiickle foundation, I believe |Gut wasteful competition, w in labor unions but net in the pur- Poscs underiving these unlens. Hadical Just as Had “The tepical radical is just as bad He calls himself a ve.' Scientific analysis clearly shows him 10 be one generation behind the times He is attempting to set bhack the hands of the clock and stem the tides of progress. Why? Hecause progress demands consalidations, because offi- clency in preduetion and distribution requires cooperation rather than com- wmmk Wasteful competition is the basie Feason for high costs Cost in production has heen reduced by the developing of large unita and eutting One reason hy the cost of distribution is today 80 great is because this cooperation s Jjust beginning—through the ehain slores—to be applied to distribution, The radicals are trying through legis. lation to break up these large and of. ficlent organisations. They are as bligd as the union labermen whe are trying to get rieher by producing less. Mind yous=I'm not eriticiging lahor unions per se, Labor has as much wight to unite in unions as have in. vestors to unite In corporations; but hoth should be subject to the same laws and have for their purposes pro- duction and distribution, Wage work. ers should not give up their organi- wations but they should justify the oxistence of such organizations, “Only the capitalists and the social. Ists are working along sane lines and these two groups are coming more tlosely together every year, In fact they are joining hands today in a de- sire for orgagized production and dis. tribution enmpared with merely a de- sire for more of the spolls of indugiry, The real fight today is not hgtwWohen employes and employers, but rather between those who want to produce and those who want to get something for nothing or at least to give in re- turn for living as little in effort as they can get away with, It is true that this latter group includes hoth rich and poor, but it is a large group and a very menacing one today: Who to Worry About “Personally I do not worry about either the capitalists or the socialists, Only the orthodox union leaders and the radical politiclan worry me. Both capitalists and the socialists are in- terested in increasing production and facilitating distribution. Both sys- tems depend for their authority on the consent of the governed. Both con- tinue to retain control of industry only as they truly serve the producer. Most all of us are producers in some form or another. Hence—when ex- amined under the microscope there is found to be only very little differ- ence today between capitalism and so- cialism. Both are aiming at the same thing although both are attacking the problem from different angles. Only the future can tell which angle is the soundest. Tt cannot be now determin- ed by argument, hy force or by votes, The wise man will respect hoth the lcaders of the capitalists and the lead- ers of the socialists.” 7 Cooperation Replaces Competition Turning from political theory to practical business organization, Dr. Steinmetz outlines a new way based on production rather than profit. “There can be no permanent pros- perity,” he says, “with industries com- peting with one another and with a half dozen little shops in every block as at present. To eilminate the hills and valleys of the Babsonchart there must be more cogperation and less competition. When industry is pro- perly organized and controlled then |WE are in & pesition 1o eliminate ua- clployment and business depressions The trend of capitalism is to bring such & condition sbout. It alse should be remembered that the leaders 1in cither & capitalistic or sociadistic form of government must work in the in- tereste of sociely at large in order to hold their positions. Unlike the pol ticlan they hold their positions o Iy |88 they make & suceess of their work |This is why the ablest men of both | EToups are working for a living wage for both these who perform the lahor and _‘h-. who supply the capital. " Not For Governmont Operation “Husiness men make a great mis- fake" continued Dr, Steinmets, “in thinking that seclalism means govern- ment operation. Only the lator lead- ers and the radical politiclans are talking government operation. Neifh- er the intelligent capitalis nor the intelligent socialist wants government operation, Nor do the labor leaders and pelitiglans want government op- cration for the benefit of the eom- munity but rather for their own sel- fish purposes, Ask any 10 men whether private or government opera- tion is more efficient, and nine will at once answer that private operation is wost economical, Apparently every- thing favors publie operation—low - terest charges, no dividends to pay, no legislation to fear——and yet govern. ment, state and municipal operation is a fallure, Buccessful government operation of industries, railroads or publie utilities is inherent'y impos. sible under a democratic form of gov- ernment,” A New Form of Government Turning from business to political theory, Dr. Steinmetz fuses the two and produces a picture of the ultimate government, a government with all the efficlency of the modern busin: organization, yet a government that will satisfy the broad wocinl demands of the most exacting humanitarian, “Our present democratié form of gov- ernment,” says Dr. Steinmetz, “Is probably only a transition stage be. tween & monarchy and the ultigpate system. It has been apparently suc- cesstul in the United States, largely becanse America is so rich in natural resources that it can afford to be ex- travagant and wasteful, We have been successful here in spite of our form of government, rather than be- cause of it., Do not misunderstand me, Remocracy is a tremendous im- provement over the ahsolute monar- chy of the old days. It does not neces- sarily represent the highest organiza- tion. It has its decided weaknesses when studied from an unprejudiced scientific point of view. “It cannot help but be wasteful and inefficient,” brings out Dr. Steinmetz, “as long as positions are filled through election rather than through promo- tion. In a business corporation there is no change of officers so long as they perform their work well. This insures a continuity of service, spe- cialized ability and the filling of va- caucies through the promotion of merit. These extremely valuable fea- tures are lacking in our democratic form of government. “You may not admire Lenine the soviet organization of Russia. motive may be right or wrong, bhut this much it at least clear. He has organized and maintained a govern- ment in Russia through one of the most trying periods that any nation has ever experienced and he has been uble to do it because he is using the same system of control that is being used by the best managed corpora- tions in this country. He considers all his followers as stockholders and appoints and promotes the officials of his government on the basis of their efficiency and fitness to perfogm the task required of the office. and His Wouldn't you feel better and “more content if you. knew that those Bonds and Stock Certifi- cates, those Insurance Policies and other papers of value were secure in one of our Safe Deposit Boxes? You can have this protection—fire proof, no chance of theft, always where you want them—for 1c a Day Come In And Get Your Box Now Herolution Not Neoessary All this talk about changing Fovernment suggests the possibitity of Political revelution, but Dr, Sicinmets takes no stock in the idea "I fear no pevolution in the United Btates” he says, “for there ean he no revolution where there is something worth keeping, instead there is only evelution. If we may go back to Rus. Sa once more we find there was a revolution there, because there was nothing worth keeping in the old sys tem. Kerensky tried to evolve some. thing good from it bhut falled, It was necessary to tear downm and start all over again, In our form of govern- ment, there is mueh worth ke eping and our people are sensible enough to see It, There will be no revolution in this country, even the old possihility of the clash hetween capitalists and socialists is past, If we have any trouble it will come from misled labor leaders or selfish politiglans whe call themsqlves radicals and form ‘bioc’ tor ebstruetion of progress.e These men, oither through their ignorance of economie law or through their sel fish egotism, present the only source of danger ip our eountry today.” The President o Manage Continuing his discussion of the new organization of government, Dr, Stein. metz outlines briefly several of the {eatures he expects to see adopted in i, “Congress,” he says, “will con. tinue to evolve into a tribumal, with prohibiting powers only, This means that the admii ration will he wholly in the hands of ¥e prosident and his ministers who will hold positions for long perlods and will be non-political In nature like a eity manager. Con. gress, acting as the board of directors, will, however, have the power to curb them when it so desires even as the hoard of directors may not approve of all that the president of the corpora- fion proposes, yet such a hoard does not think of ‘firing’ the president be- cuuse he proposes ono plan that they do not like. “Certain questions of policy will be referred to all the people to vote up- on as a referendum. A question such as prohibition for instance, would come under thils heading, Its en- forcement is the problem for the ad- ministration to handle, but its deter- mination I8 a question for popular vote. . The majority of people are capable of voting ‘yes,' or ‘no’ when the question is honestly and plainly asked, and that issthe chief purpose of ballots. All this voting' for and against men we know nothing about is little short of ridiculous. Our Judiclary may be continued much in its present form. Our courts need to be reformed and vitalized. We must always have a supreme court to inter- pret law and the present system of ap- pointing judges for life during good kehavior is a step in the right direc- tion and should be applied to the ex- ccutive and administrative offices as well. “We are ‘a wonderful people and have a wonderful country,” concluded Dr. Steinmetz. “No other nation in the world, for instance, would have taken me in—a cripple hoy—and giv- en me the chance that it has. This statement made to Babson Institute is not made in the spirit of criticism or complaint but is made only because I want to see this country forever grow stronger and not be wrecked by people who complain and agitate without thinking the matter through to its final solution."” l‘frize Winners Ot 50,000 contestants Ah Sing Ching (below), Chinese boy, 14, resi- dent in Hawaii, won the first prize, $750, offered by the American Legion for the best essay on “How Can the Legion Best Serve the Nation?” Paul- ine Virginia Chastain, 17, Indianapolis (above) won the sccond prize, $500. The Burritt Savings Bank will pay you interest at rate ‘of 415% on any deposits made up to February S5th as if they were made on the 1Ist. ' Start Your ‘Account Tonight Open 7 to 9 o’clock - 10 BE SHOWN Intertype Corporation Completes Film to Explain Construction alion of Mechanical Wonder Th‘an»hms. of automatic typesel- ting machinery will be explained with meotion pictures next Monday evening at J, O, U, A M hall en Hungerford court under the auspices of the New Britain Typographical union, The film has been prepared by the Intertype Corporation of New York educational Wature, explaining in de- tall the eonstruetion and one of Lthe typesetting machines which helped to reveolutionize the publication of newspapers, Seven Intertypes are in use dally in the composeing room of the “Herald," One of them set the type which you are now read, In operation, they are t almost human, To the printer, they are simply machinery, To the public they are among the mysteries of life, They have made it possible to produce better and less expensive newspaper | in much less time than under old con- type ditiors when each handled as a unit The motion picture of the Intertype o TYPESETTING MACHINE IN MOVIE and Oper- : 31 West Mata St, Tel. 2040 WE OFFER AND RECOMMEND- Conn. Light & Power 795 Pfd PRICE~$100 PER SHARE and s of an operation of HARTFORD: Hartford-Conn, Trust Bldg., Tel, 3-0339 NEW BRITAIN; 23 West Mato 5t.. Telephone 1818, letter was runs for about an hour and & half and in addition to this interesting feature, an entertalnment will be provided. Admission will be by Invitation, WALL STREET STOCK WE OFFER— 100 Shs. American Hdw. Stock Seasonal Office in the Belleview Hotel, Belleair Helghts Florida EXCHANGE REPORTS Quotations furnished & company, High Am Bt Sugar .. 307% Am Can ., Am Cr & Idy Am Cotton Oil . Am Loco . 23% Am Sm & Ref .. 68% Am Sug Ref com 79% Am Tel &Tel ..122% Am Tob .......162% Am Wool . 06% An Copper ..... 47% Atch Top & 8 F 101% AtGuif & WI.. 20 Bald Loco 134% Balt & Ohlo 48% Beth Steel B ., 62% Can Pacific ....144 Cen Leath Co .. 34 Ches & Ohio .... 75 Chi, Mil & St. P 24 Chi Rock Isl & P 35% Chile Coppe# ... 20% Chino Copper 26 Con Gas .g..... 68% Corn Prod Ref .135% Crucible Steel .. 741§ Cuba Cane Sugar 14% Endicott-John .. 801 Erfe .. L A1% Erie 1st pfd . 18% Gen Electric ...189% Gen Motors . 14 Goodrick BI" . 8361 Gt North pfd .. T5% Insp, Copper . 34% Inter Con % Int Mer Marine . 10% Int Mer Mar pfd 40% Allis-Chalmers . 48 Pacific Oil 45% Int Nickel . Int Paper . Kelly Spring Tire Kennecott Cop 36% Lehigh Valley .. 691 Midvale Steel .. 273 N Y Central ... NYNHG&H .. Norfolk & West 11315 North Pacific .. 76% Pure Oil . .... 28% Pan Am P & T 91% Penn RR ..... 46% Pierce Arrow .. 12% Pittsburgh Coal 6114 Ray Con(Cop .. 13% Reading . 7814 Rep I & S .49y Royal D, N Y . .48% Sinclair Oi f 345 South Pacif o 91 South Rail . 31 Studebaker Co 116% Texas Co 48% Texas & Pacific 22% Tobaceo Prod.. 80% Trans Ol 1% Union Pacific 138% 11 United Fruit ..160 1 United Rt St .. 70% U 8 Food Prod 4 " 8 Indus Alco 66% ' S.-Rubber Co 593% U 8 Steel 1 U'tah Copper Willys Overland 7% 167% 49% 09 CAN'T SEE WITH PIG'S EYE Test, However, Does Not 30 Days More May Show Some Im-|day. provement. New York, Feb. 3.—Al wicz, 18, of Lyndhurst, N. J., open i 8 yesterday ,J". the | ing the passage of an amendment to his eve all the way first time since Dr. gan of Paterson grafted of a pig's eyo on it ten an effort to restore his youth could not see, or distinguish|iNg& the enactm darkness, despite | ©! several since the operation he had told light and that on between the fact surgeon that he could |streak of light. It is thought he im. | railroads were under federal control. agined he saw light. The before he will know w operation was successful. LEHIGH RE-ENGAGES O'NEIL Bethlehem, Pa.. Feb. O'Neil, who has given Lehigh two in- | championship | teams in the past few years was today tercollegiate la 1se re-engaged by the Athletic Commit- its annual meeting at an in- tee at crease in salary. March. He wi FOX’S—Starting Monday “THE 3RD ALARM” Spectacular Stupendous Sensational Low 170% 123% 122 152% 101% 134 - 143% Edward B. bandage was replaced and Dr. Morgan said it will be 30 days now by Putnam NEW BRITAIN New Britain National Bank Bldg. 10 Central Row Telephone 2580 Telephone 2-4141 Members Members Hartford Stock Exchange . New York Stock Exchange Donald K. Hart, Mgr. Close 9% 1 84% 180 153 123% b8 9% 122 164% 96% 1% 101% 20 134% 487% 617% 144 33% 34 75 L T — e Ay 23% 23% ‘W' Mk K JOHN P. KEOGH 25% Member Consolidated Stock Exchange of New York Waterbury STOCKS Bridgeport . Danbury Middletown BONDS New Haven Direct Private Wire to New York. G. F. GROFF, Mgr.—~Room 509, N. B, Nat'l Bank Bldg~—Tel. 1013 30% 83 15% 58 8% 96 47% We Offer: 50 Shares STANLEY WORKS, Common Price On Application We Do Not Accept Margin Accounts 20 475% 61% The Hartford-Connecticut Trust Company Corner Main and Pear] Streets, Hartford, Conn, Capital $2,000,000.00. Surplus Funds $2,000,000,00 Safe Deposit Boxes, $0.00 and upwards. Settiement of Estates. Foreign Exchange to all parts of the world, LETTERS OF CREDIT — GENERAL BANKING Bank by mail. It is safe and saves time. MONEY TO LOAN . FIRST M_cfgerAcEs ' SECOND MORTGAGES SHORT. TIME LOANS See Us Tonight (Open Until 9 o’Clock) HOME BANKING & REALTY CO. 86 WEST MAIN STREET PHONE 728 11% 377% 60 69 4 66 05% 631 n i % 106 6314 | 7% | | . | City 'Items Senator McLean Introduces a Number | From This State Senator George P. McLean of Con-|pjurce & Co.—-advt. necticut introduced the following pe-| See Lew Nelson pull one of our new titions in the United States senate to-] 7_passenger Cadillac touring cars with . .| his teeth, in front of Palace theater, Petition of the Meriden Woman's| Monday noon, 12:05. Lash Motor Co. club of Meriden, and the League “f‘—-ud\t. bert Leman-| Women Voters of New Haven county,| Radio scts and supplies at Morans' eq | both in the State of Connecticut, urg- | agve, | Victor February Records at. Morans', Mor. | the constitution regulating advt. the cornea|bor. 4 .| Lew Nelson will pull a 7-passenger days ago in| Detition of the Chamber of Com-|Cagdilfac touring car with his teeth, in sight. The | merce of Greenwich, Connecticut, urg-| rront of Palace theater, Monday noon, t of senate joint res- 19:05. Lash Motor Co.—advt. authorizing thel y'nj) My Luck Comes Holling Along occasions | ('nited States to pay just and meri-| rox trot, Vietor record No, 18988.— the | torious claims ‘for loss of or damage! (., I, Pierce & Co.—advt. a|to freight in transportation while the| “Staniey Works Giris' club dance, | FFriday eve. at Y. W. C. A. Rexmore - | orch.—advt, JAND IS WINNER New February Victor records, C. L. End Hope— child la- ution No. discern ! CLEV | AR LUCK FOR THIS VISHER Hull, England—The capain of the schooner Conan Doyle set out on a three weeks' fishing cruise. He re- turned laden with fish valued at $20,000 Defeats Milwaukee Hockey Team, 4 to 2, League Contest Cleveland, Ieb. 33.—Cl feated Milwaukee, 4 to 2 last night in in the first of a two-games United States Amateur Hockey Association series. Another victory tomorrow | night would place Cleveland in a tie with S§t. Paul for first place in the| Western division championship race. | hether the land de- 3.~W. C. SUPPORTING A FAMILY Tliness, accidents, costs of clothing and schooling or the accumula- tion of unpaid bills are problems to all but the wealthy. Our bus- incgey Is the solution of thesa probffms. We lend up to $300 at legal rates on notes or home fur- niture repayable in installments. Our aid is immediate. Phone 1943, Beneficial Loan Society Room 104-5. £7 W. Main St New Britain, BREAD CHEAP IN CHICAGO. Chicago, Feb. 3.—Bread prices reached the lowest level in Chicago in | |many months today. A one pound loaf sold for 31 cents in stores oper-| ated by one firm while in’stores oper- ated by another organization loaves| of similar weight sold for 4 cents. | - | | o onie seétion of every 1,000 bab'es born than half died. Il report in Madras, out of 921, more