ADULT EDUCATION.

Waikato Times, Volume 102, Issue 17077, 14 April 1927, Page 5

ADULT EDUCATION.

UNIVERSITY TUTORIAL CLASSES. FEATURES OF MODERN INDUSTRY. The Hamilton branch of the Workers' Educational Association held its weekly economic class on Tuesday, the subject being "Some Features of Modern Industry." The tutor. Mr T. N. Pembcrton, explained that although the, employment of large sums or capital was not unknown before the Industrial Revolution of 1750. every advance In invention and discovery and even the early machines cost, more than the many small master-manufacturers could afford. In some [daces a number of these small men pooled their resources and established mills in which to do some of their work, but, generally speaking, Ihe new capital was supplied by merchants who had accumulated wealth in home or foreingn trade, by financiers, by landowners, some or' whom sold their land and went into industry, agriculture, commerce, transport, anil finance; they reacted on politics and social conditions; they produced a new economic, and social order marked by Ihe, use of capital at every point. This period of chanjro brought about new knowledge, machines, sources of power, products, methods of production, transport, markets, and areas of population.

At first many firms were establish--1 ed by the formation of partnerships. ; but when larger sums of money were required the obvious method was the .joint, stock company. The limit of liability has gathered the little sums into big heaps, and thus allowed such a development, of the world's resources as could not. have been accomplished in any other way. But this system has also given rise to. the disappearance of any personal connection between employer and employee. The modern wage-earner seldom knows his employer; he knows only the foreman, a manager, a board of directors, whose business it is to see that as large a dividend as possible is produced and consequently, through lack of Ibis friendly, personal connection, wo have 'the industrial unrest of the present day. The large business claims (hat it, can purchase its raw material in bulk: have its own sources of supply; eliminate waste; specialise its machinery and workers; employ scientists; distribute its goods through its own stores; and thus economise in power, labour, premises, capital, plant, advertising, travellers, catalogues, office staff, insurance, depreciation and fixed expenses. Questions were answered and open discussion was allowed.

The class will not meet again until Tuesday, April 2li, when "International Trade" will be considered.