Labour being not a commodity, as some material thing merely to be bought and sold, but the human element, is entitled to more than a living wage. It has human aspirations, and desires and needs. It has not only its present but its own and its children's future to safeguard. When it is thus made a partner in the business it becomes more earnest and reliable and effective in its work, less inclined to condone the shiftless, the incompetent, the slacker; more eager and resolute in withstanding the ill-founded, reckless or sinister suggestions or efforts of an ill-advised leadership. Capital or employer is the gainer also, because it is insured that loyal and more intelligent cooperation in its enterprise that is as essential to its success as is the genius and skill of management. Taking a different form but proving most valuable alike for management and capital on the one hand, and its workers on the other, is the case of one of our great industrial plants, the largest of its kind in the world and employing many thousands of workers, where already a trifle over forty per cent. of its stock is in the hands of the workers. Their thrift and their good judgment have enabled them to take advantage of attractive prices and easy methods of payment made them by the company's management. There are already many other concerns where this is true in greater or less proportion. These are facts that certain types of labour agitators or even leaders as well as special pleaders for labour, find it convenient to forget, or at least not to mention. The same is true also of the millions that are every year being paid out to make all working conditions and surroundings cheerful, healthful, safe; in various forms of insurance, in retiring pensions. Through the initiative of this larger type of employer, or manager of capital, many hundreds of thousands both men and women and in continually increasing numbers, are being thus benefited--outside and above their yearly wage or salary. A new era in connection with capital and labour has for some time been coming into being; the era of democracy in industry has arrived. The day of the autocratic sway on the part of capital has passed; nor will we as a nation take kindly to the autocratic sway of labour. It is obtaining a continually fuller recognition; and cooperation leading in many lines to profit-sharing is the new era we are now passing into.