IN THE BALANCE
[To the Editor of the SPECTATOR.] Sm,—It is certain your article in the Spectator of Jan. 30th will be helpful alike to Masters and Men. Of the latter I know many are your thoughtful readers. While Labour's claim that Capital receives more than its fair share of the rewards of Industry has not yet been disproved, it should be remembered that Labour organization has to-day reached a point where it has the actual power to demand what is beyond the economic possibilities of Industry. Witness the coal position. Labour will, therefore, have to be careful how it uses this power. Finance rides every storm, always. At present the position seems to be that Labour is stressing things too much. Industry is turning to Commerce (which seeks out and makes the paths of trade) appealing for new markets and better prices to meet this pressure from below. Commerce, in turn, is appealing to Finance for wherewithal for promising enterprises.
Unfortunately, to-day, Finance replies, "Nothing doing! the risks are too great through Labour unrest." So orders that could set trade moving remain in pigeon-holes. Some patriotic Labour leaders understand this, others don't.—I arm
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