Page:Coin's Financial School.djvu/164

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146
COIN'S FINANCIAL SCHOOL.

interests of property as paramount to the interests of humanity. That influence extends from the highest to the lowest. The deputy sheriff regards the $4 a day he gets as more important to him than the life or cause of the workmen he shoots down.

"The Pullman Palace Car Company recently reduced the already low wages of its employés 33⅓ per cent. Unable to make a living, they laid down their tools. A few days later the company declared a quarterly dividend of 2 per cent on watered capital of $30,000,000. This quarterly dividend was $600,000.

"Had this company sent for the committee of the workmen and said, 'We were about to declare our regular quarterly dividend of 2 per cent; it amounts to $600,000; we have concluded to make it 1½ per cent; this will give us $475,000 for three months, or one quarter's profits, and we are going to use the other $125,000 to put back the wages of the men. There would have been no strike. The men would have hailed it as generosity, and the hearts of 4,000 workmen would have been made glad.

"It was not done. It was not to be thought of. These stockholders living in comfort with all their wants provided for, think more of their property interests than they do of humanity, and will see men starve or reduced to the condition of serfs rather than concede an equitable distribution of the profits of their business.

"This has occurred here in the city of your homes; in the World's Fair city; a city supposed to be as patriotic as any we have; if this is human nature here, what do you expect from the men in England who hold our bonds, notes and mortgages payable in gold.

"We are forced to take independent action. To hesitate is cowardly! Shall we wait while the cry of