UNITY OF INTERESTS. 49 



turinsr interests durins: the late war. Some of these interests 

 enjoyed unprecedented prosperity. The natural effect was 

 to turn into that channel all the available machinery of the 

 country. The war ending suddenly, left this vast amount of 

 machinery in full operation and consequently the supply soon 

 exceeded the demand. Instead of stopping or turning a part 

 into other channels, thus reducing the product to the actual 

 demand, the manufacturer feeling his strength in the accumu- 

 lated profits of the past, continued to manufacture until the 

 surplus was thrown on to an overstocked market, and conse- 

 quently prices fell, in some cases even below the cost of the 

 raw material. The splendid fortunes made during the con- 

 tinuance of the war soon vanished, and hundreds of millions 

 were thus lost to the capitalists. Fortunate was it for the 

 country, and more especially for the laboring-classes, that the 

 capitalists heeded not the warnings of prudence. Had they 

 stopped manufacturing, it would have depressed all other 

 kinds of business, and deprived the laborer of his employ- 

 ment, and created untold misery and suffering. But on the 

 contrary, wages continued at war prices and still continue, 

 notwithstanding the decline in the prices of food and cloth- 

 ino*. It could be shown that every dollar lost by the manu- 

 facturer was paid in wages to the laborer. The laborer con- 

 tinued on in prosperity while the capitalist lost all. Consider 

 the benefits the laborer and the community derived from this 

 sacrifice of capital. It took the splendid fortunes of the past 

 and diffused them through the community. The true inter- 

 ests of the country are promoted where these powerful indus- 

 trial elements operate in sympathy and attract instead of 

 repelling each other. We want no antagonism where all 

 ought to confederate for the common good. When we foster 

 the great productive forces which feed and clothe humanity, 

 we bring each calling into amity and reciprocity with all the 

 other callings. Thus the great harp of labor with its thousand 

 strings, touched as with a master's hand, will vibrate in har- 

 mony through all the land. 



]\Iighty are the achievements that spring from the union of 



capital and labor ; but their noblest offspring are the homes 



of our people. It is these that make the chief glory of New 



England. Go where you will, and more especially in the 



7 



