346 



THE INDIA RUBBER WORLD 



[April 1, 1919. 



hour, the extra cost of lighting is more than paid for in 

 the saving on labor cost alone." 



MR. ROCKEFELLER'S TIMELY CAUTION. 



THAT Labor and Capital are partners, not enemies ; 

 that their interests are common, not opposed, and 

 that neither can attain the fullest measure of prosperity 

 at the expense of the other, but only in association with 

 the other, is the preamble of a creed contained in a most 

 timely pamphlet entitled "Representation in Industry," 

 just issued by John D. Rockefeller, Jr. Mr. Rockefeller, 

 than whom no employer in this country is better qualified 

 to discuss industrial subjects, strikes at the root of the 

 industrial question when he emphasizes that the Com- 

 munity is an essential party to industry and that it 

 should have adequate representation with the other 

 parties. 



It is the purpose of Mr. Rockefeller to show that the 

 four parties to industry — Labor, Capital, the Manage- 

 ment and the Community — should be so represented that 

 disputes should be equitably settled, fair wages and rea- 

 sonable hours assured, capital be justly compensated and 

 management be adequately recognized. He does so in a 

 most convincing manner, and cites the example of the 

 Standard Oil Co. in some of its branches where a 

 system of representation has been adopted which has 

 worked for the good of all concerned and which has 

 minimized the troubles which constantly arise in large 

 concerns. 



In a keen, incisive manner, Mr. Rockefeller analyzes 

 the cause of misunderstandings often so disastrous to all 

 concerned and condemns the capitalists "who regard 

 Labor as their legitimate prey," from whom they are 

 justified in getting all they can for as little as may be, 

 equally with the attitude of Labor whose sentiment is to 

 wrest everything possible from Capital. These two 

 forces he declares are to blame for the strike, the lockout 

 and other incidents of industrial warfare. Mr. Rocke- 

 feller's system of mutual cooperation and discussion by 

 the four parties interested for the purpose of eliminating 

 these causes for turmoil, which of late seem to be multi- 

 plying not only in this country, but elsewhere, is a most 

 valuable contribution and is well worth the perusal of all 

 who want to see progress replace strife, and an era of 

 good feeling succeed the present overcharged atmos- 

 phere of discontent and recrimination. 



AS TO THE RAINY DAY. 



and "to make earnings and time count more for the in- 

 dividual." ' , ■--■': 



The govejrnbr^ of the 12 Federal Reserve Districts 

 have been reqdested to develop special savings machin- 

 ery in each district with the idea of stimulating the sale 

 of Thrift and War Savings Stamps. On the subject of 

 ■'Every Day Economics" the following pertinent advice 

 is given : 



"If the well-to-do would save all they could and fur- 

 nish the Government with funds by buying bonds and 

 thrift stamps and by paying taxes, and if those with 

 smaller incomes would do likewise, together they might 

 be able to save enough for the use of the Government 

 and at the same time furnish it with funds to buy what 

 they saved. But if many of them, either rich or less 

 well-to-do, refused to do their part they would force 

 others to do more than their share. 



"Sane spending is the basis of intelligent saving and 

 elimination of waste," continues Mr. Glass, "whether of 

 commodity or time. In making purchases, the buyer 

 should make certain whether he gets his money's worth 

 in commodity, comfort, service, recreation or advance- 

 ment. 



"Provision must be made for the rainy day and unfore- 

 seen emergencies — or opportunities — when they occur. 

 Intelligent saving is diametrically opposed to hoarding 

 or miserliness. It consists largely in foregoing ill-con- 

 sidered or foolish present expenditures in order to be 

 able to obtain in the future necessities or even luxuries." 



The purpose of the great campaign is to pay all war 

 bills, maintain our troops and to bring them home, to 

 create a powerful agency for the Americanization of the 

 foreign-born — and to establish a "practical eraser for the 

 hyphen" as well as to afford the greatest benefits to the 

 workers in protection for the future, and providing for 

 a rainy day. 



CARTER Glass, the new Secretary of the Treasury, 

 has inaugurated his term of office with a govern- 

 ment campaign to make "Thrift a Happy Habit." This 

 is the title of a booklet issued by the Government to the 

 people of the United States "to promote wise buying, 

 avoidance of waste, intelligent saving, and safe invest- 

 ment, with the aim of meeting war obligations and pro- 

 moting individual, community, and national prosperity" 



The Industrial Board of the Department of Com- 

 nierce is a new creation of great importance. The 

 board in consultation with industrial leaders plans to 

 stabilize prices through governmental purchases of 

 basic materials. It is not price fixing. It is simply a 

 big buyer coming into the market with the coopera- 

 tion of all other big buyers, sellers and producers. 

 Thus will stagnant business be energized, capital be 

 freed, building operations be resumed and normal in- 

 dustrial activity be restored. 



The daily press announces another world tour of 

 the yacht Oneida, under the personal command of the vet- 

 eran rubber factor. Commodore E. C. Benedict. It is 

 claimed, by the newspapers, that Commodore Benedict 

 once penetrated to the head waters of the Orinoco in 

 this same sea-going yacht. Not to seem too skeptical we 

 will allow that if any man in the world could negotiate the 

 rapids above Angostura in a big vessel it would likely 

 be the Commodore. 



