hought!--a small fortune to the young
Parkers. So though in a way the thesis as it stands was not meant for
publication, I shall risk quoting from Part One, "The Problem," so that
at least his general approach can be gathered. Remember, the title was
"The Labor Policy of the American Trust."

"When the most astute critic of American labor conditions has said,
'While immigration continues in great volume, class lines will be
forming and reforming, weak and instable. To prohibit or greatly
restrict immigration would bring forth class conflict within a
generation,' what does it mean?

"President Woodrow Wilson in a statement of his fundamental beliefs has
said: 'Why are we in the presence, why are we at the threshold, of a
revolution? . . . Don't you know that some man with eloquent tongue,
without conscience, who did not care for the nation, could put this
whole country into a flame? Don't you know that this country, from one
end to the other, believes that something is wrong? What an opportunity
it would be for some man without conscience to spring up and say: "This
is the way; follow me"--and lead in paths of destruction!' What does it
mean?

"The problem of the social unrest must seek for its source in all three
classes of society! Two classes are employer and employee, the third is
the great middle class, looking on. What is the relationship between the
dominating employing figure in American industrial life and the men who
work?

"A nation-wide antagonism to trade-unions, to the idea of collective
bargaining between men and employer, cannot spring from a temperamental
aversion of a mere individual, however powerful, be he Carnegie, Parry,
or Post, or from the common opinion in a group such as the so-called
Beef Trust, or the directorate of the United States Steel Corporation.
Such a hostility, characterizing as it does one of the vitally important
relationships in industrial production, must seek its reason-to-be in
economic causes. Profits, market, financing, are placed in certain
jeopardy by such a labor policy, and this risk is not continued,
generation after generation, as a casual indulgence in temper. Deep
below the strong charges against the unions of narrow self-interest and
un-American limitation of output, dressed by the Citizens' Alliance in
the language of the Declaration of Independence, lies a quiet economic
reason for the hostility. Just as slavery was about to go because it did
not pay, and Ameri