Show la labors bars financial institutions 11 by r PETER J BRADY president dento federation dauk bank of now new york labor day Is always momentous a day of rejoicing a dy day of vitalizing visualizing how much has ha m been done and how much till still Is I 1 to be won of a all the newer enterprise of iab labor ar none nona have been more successful than labor banks that idea Is little more than six alx lx years year old yet it has been overwhelmingly successful from the W tart start it has not been merely a pooling of interests of labor it has ha attracted great sup port pert from the public it has increased the prestige of our movement and Is becoming a great educational force for the workers who own these theme banks and for those who have been enar entrusted with alth their administration labor Is learning the came c of finance in the most practical school of experience all of this knowledge will be at the disposal of the movement to guide and safeguard it at all times the growth of the thirty and more labor banks has been gradual arid and sound beginning with what might rightly be termed a visionary idea these financial institutions of labor have put solid foundations under them in the form of deposits and resources at present over the federation bank has been particularly inspiring for it now his entrusted to it the immense sum of there Is nothing supernatural about banks but workers continue to regard them with awe what would be the amazement of the worker of a century ago on an seeing labor enjoying its own holiday having its spokesmen in the councils of the nation owning its own banks life iff insurance companies operatives cooperatives co and its millions of members marching steadily on ail to a better day we have matte made great progress that labor banks should be successful Is natural the time was trips ripe for it that the public should support labor banks Is natural for the public leans toward labor As a result of labors participation in finance Is coming a now new alignment mutual respect a keener appreciation of the points of view of labor and capital it will lead to a clearer understanding it Is this appraisal of progress made that warrants us to celebrate joyfully and to mark this labor day 1926 as of biggest promise most rich in achievement I 1 |