DAY BY DAY.

Waikato Times, Volume 102, Issue 17168, 2 August 1927, Page 6

DAY BY DAY.

Dr. C. S. Myers (M.D., Sc.D., F.R.S.), a member of the

Principle of Co-partnership.

Industrial Fatigue Research Board, in his book, " Mind and, Work," has

some very searching paragraphs in regard to the future of industry and recent developments in industrial thought. "Of one thing there can be no doubt," he says, " that the unlimited profits hitherto absorbed by capital will be regulated by law. When capital has been paid a due reward for its services, the remaining profits must be .equally divided among all concerned in its production. Then capitalism and employment would come to be rigorously distinguished—employment including both management and labour. To this end we are clearly approaching, the division being no longer between management and labour, but between "capitalism and employment." This constitutes a most striking endorsement of principles laid down by Mr 11. Valder, of Hamilton. It is daily becoming more evident that employers of labour are awakening to the necessity of admitting the rightful claim of the worker not only to a share of the surplus profits, hut to a share in the voice of management. Further, that the time is approaching when copartnership will be almost universally applied to industrial concerns.

From the strictly trade standpoint, the breaking off of relations

America and Russia.

between Great Britain and Soviet Russia is hardly likely lo be of much consequence, says the New

York Times. While the political and other activities of Arcos, Ltd., have been checked, other agencies will takeup the humdrum of ordinary trading. Russia has a lot of things to sell and the British arc potential customers, and buyer and seller ..re bound to come together under the circumstances, ' After the raid on the Russian headquarters in London, one of the Soviet emissaries ventured on the remark that now Russia would transfer its trade to America instead of dealing with Great Britain. This is, of course, ridiculous. Many of the foodstuffs, for example, which Russia exports could find no market in America anymore than could certain other crude products which form the bulk of that country's outbound shipments. Russian trade with America has never cut much of a figure. Last year, for instance, the imports from Russia totalled only £2,824,396 out of a total of imports aggregating £880,178,000 or less than one-third of 1 per cent. In 1925 the result was approximately the same. On the export side the total of shipments from America totalled £9,981,128 or a trifle over 1 per cent, of the aggregate. This was a drop of nearly £4,000,000 from the exports to Russia in 1925. For the first quarter Of the present year .Imports from Russia were little more than one-third of what they were in the corresponding period in 1926 and represented less tiian one-seventh of 1 per cent of America's total imports. The exports to Russia increased a little during the first three'months of this year, hut at that they represented less than 1 percent, of America's total exports. These figures show how futile must be the hope of any large trading between Russia and the United States.