The Guardian And Evening Star, with which is incorporated the West Coast Times. FRIDAY. AUGUST 20, 1926. AMERICAN INDUSTRY.

Hokitika Guardian, 20 August 1926, Page 2

The Guardian And Evening Star, with which is incorporated the West Coast Times. FRIDAY. AUGUST 20, 1926. AMERICAN INDUSTRY.

At the present time the United States is enjoying unprecedented prosperity Entrepreneurs are making fortunes; wages are higher than ever before, and the price of manufactured articles is low. How can one account for the phenomenon l- How dees industry, despite its huge wage burden, contrive to provide the public with cheap goods, and. at the same time, yield such profits to the manufacturers? This is the riddle, says a reviewer, which -Mr Bertram Austin and AY. Francis Lloyd sets out from England to solve. The answer is contained in “The Secret of High Wages.’’ a hook which, deservedly, is attracting a great deni of attention in England. The conclusions by the authors are stated under nine heads, each of whicji js elaborated. . In Anie-

rieft promotion by merit is the rule. The American manufacturer is more enterprising than his British counterpart. lie is always ready U scrap his plant if a more efficient one can he obtained. He is quick to adopt time ami trouble-saving (the authors prefer that expression to the orthodox ‘'labour-sav-ing'’) appliances. He eliminates waste, lie appreciates the .value of reseatch. He encourages his employees to,. suggest ideas. And, above all. his policy is directed to an increase of wages and a reduction of prices. The last point is really the cardinal one. High wages Jo IR ,t necessarily entail high prices. On tin;'contrary in America their effect is just the opposite. In America the system of a fixed wage does not; obtain. There is no limit to the amount a man eau earn, and lienee no limit to his productivity. It pays him to put his heart into his job. He himself can buy more, and the public has the benefit of his activity in the shape of lower prices. The authors establish their ease beyond dispute. But. of course, high wages are onlv consistent with h!W prices if accompanied hv increased production. That is self-evident. The worker gels more because he gives more. Ibis is the essence of the contract. But if wages arc high, and the worker does not produce commeusurately, prices also will he high. The operation oi this economic law depends upon the multiplication of output. In considering American industry to-day, thoughts naturally revert to the motor ear trade, and the' name of Henry ford stands out prominently in that connection. ATr Ford has been credited with more than one hook dealing with ,his life and work, and they have been widely rend, and much commented on. With the aid of a collaborator)- he has produced yet another work, “The Great To-day and Greater Future.’’ In this various doctrines of work and industry are propounded, and the work is sure to have a ready welcome. It details much of his own experiences, and these led him up the ladder of success. Air Henry Ford’s reminiscences have a wide appeal, nor is the reason difficult to understand. Not only is tho story of the expansion of his works and of his various ventures, interesting in itself, hut throughout his life Mr Ford has cherished certain very definite principles. He believes that to succeed in the genuine sense a business must he animated by a spirit of service. The acquisition of wealth is merely an incident, the means which enable the entrepreneur to further his ideals. His real reward lies in the knowledge that he has helped to support the community’s wants. Air Ford is also an optimist. He believes that never were opportunities greater than they are now. Every hour is “the hour.” All that is needed is the man who has the wit to seize the chance. Doctrines such as these are of the right pitoh. They encourage optimism, and after all it is encouragement tho world needs most of all. ATr Ford can propound precept and he can back it up with his own example. There is an old saying that nothing succeeds like success, and ATr Ford has progressed certainly with the flood tide. Opportunity to him must have been very frequent--that (Combined with his own predisposition to succeed, and so he went on from success to success. America contains many great industrialists, and of these Afr Ford is an outstanding (figure. Naturally the story he has to tell is arresting and distinctive, aud no doubt budding Fords all over the world will take inspiration front the story of what he has accomplished and how lie has achieved it.