h the unskilled are still rare,
however. If common laborers are admitted in the near future
to unions of other workers in the same industry, they will
be admitted not from self interest, but from more altruistic
motives, from a growing spirit of class consciousness
attended, perhaps, by a correspondingly growing realization
of class responsibility"--"Amalgamation of Related Trades in
Unions." _American Economic Review_, Sept., 1915, page 575.

[8] Under the Kansas Industrial Court Law passed in 1920, no
provision in that direction is made. The Court is instructed
to deal either with organizations or with individuals. It is
likely that the Court, in its efforts to get disputes
settled before they reach it, will find it necessary to
encourage organization. A related question which is bound to
arise sooner or later is in regard to the stand that the
court will take in disputes arising out of attempts to
organize an industry.

[9] It should be observed that the above definition of
capital as the "means which make possible the effective
employment of labor in industry" is a functional definition.
To make the definition good, so to speak, it would be
necessary to enter into an analysis of a complex series of
interactions including a study of the action of the banking
systems, and the methods of industrial finance. To attempt
to state the various forms of capital would involve the same
process--for capital is to some extent a secretion of the
whole industrial organization. For present purposes it is
better to disregard the finer shades of interaction involved
in the process of creation of capital and the provision of
capital to industry important as they are.

It will suffice to take note only of the simpler and most
fundamental aspect of the process. Thus it is not
misleading, for present purposes, to say that the capital
which is at the command of industry in the U. S. at the
present time is the result of accumulation in private hands
of some part of the product of past labor.

[10] J. M. Keynes, "Economic Consequences of the Peace,"
pages 18-20. See also A. Marshall, "Industry and Trade,"
Appendix P headed "Possibilities of the Future."

[11] In the very interesting study made by Prof. Bowley on
"The Change in the Distribution of the National Income,
1880-1913" (Great Britain), page 27, a similar conclusion is
stated.

See also the article of Prof. A. A. Young entitled "Do the
Statistics of the Concentration of