Henderson Daily Dispatch

SAYS GOLDEN RULE NEED IN INDUSTRY

Lake Junaluska. Sept. 5 (AP)-The golden rule is needed in industry. Josephus Daniels, World War secretary of the Navy and Raleigh publisher, said here today in a Labor Day address. If employers and employees would each put themselves in the place of the other, "would there be the injustices and heartburns and misunderstandings which have too long produced animosity and strikes and lockouts?" asked Daniels. He spoke at the Labor Day celebration here arranged by the employers and employees of the Champion Fibre Company of Canton. "Every sensible man knows that not only in industry, but in all relations of life, this drifting world would become a place of happiness if every man and woman would practice the golden rule," Daniels said. The chief hope for any good to come out of the ills of the depression, he declared, is the fact that employees and employers have come to the same conclusion. "That industry as now organized has failed and that changes for the better are essential."

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sort and industries generally, at bargain-counter prices, and will end the depression absolutely omnipotent with many a pre-depression magnate reduced to the rating of a mere office manager.

Moreover, it is not alone a national but an international situation, according to some alarmed observers of conditions.

"Never before in the history of the world has there been such a powerful centralized control over finance, industrial production, credit and wages as is at this time vested in the Morgan group," says Congressman Louis T. McFadden, senior Republican member of the house of representatives' committee on banking and currency, and for many years its chairman, until at the beginning of the present congressional session.

"The Morgan interest," he continues, "is able to exercise a high degree of control in international exchange, loans and commerce through the fact that the parent Morgan company acts as fiscal agent for Great Britain, France, Belgium and Italy, and is the dominant influence in the Bank of International Settlements, and is the most potential influence in the Federal Reserve system, which last is virtually a pool of our national assets.

"This international association of financial organizations under a central control marks a new epoch in world financial history and is the basis of the greatest danger free government has had to face in centuries."

SAYS GOLDEN RULE NEED IN INDUSTRY

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Daniels deplored a condition he said prevailed in this State 20 years ago when "short-sighted boosters sought to secure location of industries in North Carolina, holding out low wages and long hours as an inducement."

"Instead of a good advertisement for the State it was the worst possible advertisement," he said, "and now we hear more of it.

"One good yard-stick by which to measure State's development is whether labor is adequately rewarded, receiving a fair share of the returns of industry."