among the negroes, 106,000 more people die every year than among a corresponding number of the whites of our country. In the negro, these men argued, the South had an invaluable asset, a better type of labour on the whole, with all its drawbacks, than any other section of the nation possessed, more docile, more faithful, less troublesome, and the South could not afford to lose this labour which it needed for developing its wealth. These men estimated the economic value of each one of these lives at $350 a year, and the period of that economic value at ten years, so that each one of these wasted lives was a loss of $3,500 to the South, or $371,000,000 each year, one million dollars a day, and they argued that the South could not afford such a waste. The South, they held, must see that the death rate among the negro is reduced to the same proportions as the death rate among the white people, in order that such an enormous economic loss might be averted. We are realizing all over the nation now that a man is a very costly product. You can breed an animal in a few months for the market, but it takes twenty years to grow a man, and no nation can afford to throw away such costly products as men and women. These are its most priceless wealth. If it expects to conserve its treasures and to be prepared for the services of the days to come, it is bound to guard this wealth more sacredly than any other. And American capital and industry have come to see this clearly. Here is one typical utterance by a leading engineer at a meeting of the Immigration Committee of the Chamber of Commerce of the United States: “Industrial Americanization is a part of the prevalent present-day movement towards the humanizing of industry. It aims to make what is commonly called ‘welfare work’ not an exercise of the individual employer’s ‘paternalism,’ but a legitimate kind of business organization everywhere. There are now innumerable kinds of ‘welfare work.’ One employer does it from the point of view of ‘good business’; another on the ‘big brothers’ theory. One man confines himself to playgrounds, another to safety appliances. In one firm it is under the employment manager; in another under a Y. M. C. A. director; and in a number of other firms it is classified in as many different ways.