Word: plumbings
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Such sincerity and temperance of thought and speech in a labor leader as Mr. Plumb displayed in his masterly argument here cannot be safely or successfully met in these times by the utter repudiation of it as a "stump speech." It is not in any spirit of prejudice which characterizes all such arguments by epithet that the problem will be settled. The hope of the country lies in holding up the hands of the labor conservatives, not necessarily by servile acquiescence in their views, but at least by a patient and sympathetic co-operation through which alone a satisfactory compromise...
Your editorial in Saturday's CRIMSON contained the following misstatements of fact: Under the Plumb plan (1) the railroads would be managed by the employees; (2) the employees of the railroads would be effective control over the hours they work and over the pay they would receive for that work; and asked the following question: How would the true worth of the railroad be estimated...
Perhaps your readers will be interested in the following statements of fact: Under the Plumb plan (1) the railroads would be managed by a board of fifteen directors, five named by the President to represent the public; five elected by the operating officials; five elected by the classified employees; (2) this board of directors would have complete control over the hours the employees work and over the pay they would receive for that work; (3) the true worth of the railroads would be determined by the courts. JOSEPH HORBLIT...
...that is not all. The railroads would be bought for their "actual value," whatever that may mean. Labor, according to Mr. Plumb, would not accept the present capitalization of the roads as a true statement of their worth. But how would the true worth be estimated? The courts have ruled that "just compensation" means payment at market value; Mr. Plumb says it does not--a bold assertion, indeed. Endless confusion and too many chances for manipulation are involved in determining this issue...
...Plumb, your plan will not work. The country is not yet, and may it never be, reduced to the state where it is forced to accept such a settlement of its railroad problem...