CAPITAL AND LABOUR.
It is in no sense of blaming the management of this great industry that I would draw attention to the fact that this is one of many instances where the British investor has been cruelly hit by the War and the trade depression. In not a few of these instances work has been continued to provide, if possible, employment for deserving workers, but unfortunately, as in the case of the present attitude of the workers in that sheltered industry, the railways, there is too often a tendency to forget these heavy losses which have been suffered by the British investor. Yet it is necessary to bear them in mind if any industrial revival in the future is not to be hampered by lack of capital resources through investors fearing that their rights will not be sufficiently recognized by the workers in the various under- takings. The figures of the unemployed show that shareholders and stockholders have not been the only sufferers from the trade depression, but I would urge that a common suffering should help to bring about a common understanding of the ex- tent to which the interests of investors and workers are closely connected. * * *
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