CAPITAL AND LABOR.

Taranaki Daily News, 17 January 1923, Page 6

CAPITAL AND LABOR.

REVERSED RELATIONS SUGGESTED.

By Telegraph.—Press Association.

Wellington, Jan. 16.

“That the relations of capital and labour be reversed and that capital be paid a pre-determined rate and assured against risks, and that labour take all it can make out of the proceeds of the venture 'by increased efficiency and application/’ was the suggestion contained in a paper read before the Science Congress to-day by Mr. G. H. V. Hamilton, a practical' man controlling a sawmilling company employing 500 hands. At present labour's wages are pre-deter-mined on a basis permitting a bare subsistence. The proposed scheme would encourage a higher standard of efficiency and give the knowledge that (in employee would receive his rightful share of the proceeds of his efforts, the employee to have such measure of control in a business as was justified by the services rendered. A premium of bank rate to cover risks could be paid over the pre-determined rate to cover capital’s risks. Half the directorate to be elected by capital shareholders and half by labour shareholders. Competition and taxation would safeguard the consumer, a legal status, without which the scheme could not possibly be permanent, being sought.