Show NEED HUMA HUMAN HUMAN- J i BUSINESS r Banker Says Business Depends On Socialization of Industry Nation Nation Nation Na Na- tion Cant Can't Prosper While Half HaIr The Tho People Starve Stabilization of business business business bu bu- bu- bu siness depends on further humanizing humanizing humanizing ing and socializing of its operations operations operations opera opera- declared Albert G. G Milbank of New York City last week in inan inan I Ian an article entitled Socialized Capitalism Cap- Cap in the July number of The Survey just issued Mr Milbank Milbank Milbank Mil- Mil bank is a director of The Chase National bank of New York City Milbank himself a capitalist of wide experience asserts that the progress of Socialist thought inthe in inthe inthe the past 25 years whether it be beof beof beof of the bright red variety finding its expression in Russian Communism ism of of the less vivid tones found in other countries is a factor factor factor fac fac- tor which Intelligent men cannot He admits that capitalIsm capital Ism makes the individual a predatory predatory predatory preda preda- tory animal rather than a social being Men and women in Industry are not robots Their sensibilities and aspirations their hopes and fj fears are factors which should be betaken betaken betaken taken into account he added As a protective measure against unemployment the Milbank plan calls for the creation of reserve funds to which employer and em em- would jointly contribute If compulsion becomes necessary the author recommended that the thrift system be made a condition of doing business and of employ employ- ment He recommends that competitors tors be allowed to combine In order order order or or- der to conserve natural resources and to maintain a reasonably profitable balance between production production production pro pro- and consumption Such combinations under what he calls a limited cooperative system would tend to stabilize business He suggested that the trust anti-trust laws be suspended for three years and that other suitable regulations regulations regulations regula regula- be set up In order to give this plan a trial In other words Socialism is not at all bad If It its Ill called any other tiling thing than Socialism |