Word: labor
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Dates: during 1890-1899
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...most unwise policy to encourage among college students the resort to methods of money earning which rank so low in the scale of honorable employment. The theory that all self supporting labor is honorable is here in danger of being too widely applied...
Upon his return he was ordained to the ministry but in 1858 he was called to the chair of mental and moral philosophy at Amherst. This was his sphere of labor until 1875. He was then elected to the national House of Representatives and served one term in the forty-fourth Congress. In 1877 Dr. Seelye was called to the presidency of Amherst College and held that position with great ability for fourteen years. He was a man of far-reaching personality, a scholar of the highest type, and he imparted the richness and breadth of his own nature...
...Monopolies are unnecessary. - (a) Concentration of capital possible without trusts. - (1) Trades are sufficiently large to admit several great competitors. - (b) Monopoly is not necessary to resist labor organizations. - (1) Labor unions have not complete monopoly of labor. - (x) Strikes often a failure. - (2) Union to resist labor possible without trusts...
...Trusts are a natural result of industrial conditions. - (a) Lower prices caused by overproduction. - (b) Opposition of labor to corresponding reduction of wages. - (c) Organized for self protection as offset to trade unions. - (d) Trend of all industry is toward combination, W. Gladden, "Tools and the Man," ch. on "Collapse of Competition...
...Trusts are of positive economic advantage. - (a) Decrease cost of production. - (1) Competition is wasteful. (2) Improved methods. - (b) Prevents overproduction. - (1) Regulate supply to demand - (c) Steady labor. - (d) Prevent ruinous competition. (e) Increase consumption. - (1) Facilities of transportation. - (2) Lower prices. - (f) Prices may rise temporarily, but fall steadily afterward...