Through such a process the laborer is constantly becoming the capitalist, and the accumulated fruits of present industry are made the basis of further progress. The world puts its richest prizes at the feet of great organizing ability, enterprise, and foresight, because such qualities are rare and yet indispensable to the development of the vast natural resources which otherwise would lie useless on the earth’s surface or in its hidden depths.
It is one of the noteworthy facts of industrial history that the most successful enterprises have been those which have been so well organized and so efficient in eliminating waste, that the laborers were paid high wages, the consuming public—upon whose patronage the success of every enterprise depends—enjoyed declining prices, and the owners realized large profits.
The development of industry on a large scale brought the corporation into being, a natural outgrowth of which has been the further development of organized Labor in its various forms. The right of men to associate themselves together for their mutual advancement is incontestable; and under our modern conditions, the organization of Labor is necessary just as is the organization of Capital; both should make their contribution toward the creation of wealth and the promotion of human welfare.
The labor union, among its other achievements, has undoubtedly forced public attention upon wrongs which employers of to-day would blush to practice. But employers as well as workers are more and more appreciating the human equation, and realizing that mutual respect and fairness produce larger and better results than suspicion and selfishness.
We are all coming to see that there should be no stifling of Labor by Capital, or of Capital by Labor; and also that there should be no stifling of Labor by Labor, or of Capital by Capital.
While it is true that the organization of Labor has quite as important a function to perform as the organization of Capital, it cannot be gainsaid that evils are liable to develop in either of these forms of association.
Because evils have developed and may develop as a result of these increasing complexities in industrial conditions, shall we deny ourselves the maximum benefit which may be derived from using the new devices of progress? We cannot give up the corporation and industry on a large scale; no more can we give up the organization of labor; human progress depends too much upon them. Surely there must be some avenue of approach to the solution of a problem on the ultimate working out of which depends the very existence of industrial society.
To say that there is no way out except through constant warfare between Labor and Capital is an unthinkable counsel of despair; to say that progress lies in eventual surrender of everything by one factor or the other, is contrary, not only to the teachings of economic history, but also to our knowledge of human nature.