OLD IDEALS AND NEW CONDITIONS 



nish the solution of this problem until education and 

 Christianity shall have vastly raised the common stand- 

 ard of intelligence and morals. Under Socialism some 

 men would receive more than the fruits of their labor, 

 while others would receive less. This result would be 

 due not only to differences of talent, but of industry 

 and character. The divine injunction was, "In the 

 sweat of thy face shalt thou cat bread/' not, "In the 

 sweat of other men's faces shalt thou eat bread," nor 

 even, " Partly in the sweat of other men's faces." Jus- 

 tice is satisfied, according to the Anglo -Saxon ideal, 

 when men are given equal opportunities. Neither So- 

 cialism nor unrestricted private control of large indus- 

 trial affairs meets this fundamental condition under the 

 circumstances of modern life. 



Let us see how co-operative enterprise adjusts itself to 

 all the circumstances of the business situation, as well as 

 to the racial tradition so precious to our people. 



In the operation of a factory there are the two neces- 

 sary elements of capital and labor the one representing 

 buildings, machinery, and working funds ; the other, 

 productive power. Under co-operation the capital is 

 supplied by a large number of shareholders who have 

 saved the money from the proceeds of their own labor. 

 It is perfectly true that "capital is stored labor," but 

 the problem is to have it stored in the hands of those 

 who performed it. Just here is the essential difference 

 between the private and the co-operative factory. The 

 former is mostly capitalized by those who organized and 

 exploited the labor of others, while the latter is capital- 

 ized by those who actually worked and saved, so that 

 their factory investment represents the fruits of their 



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