190 INDUSTRIAL REVOLUTION AND WAGES 
properties. On some of them we have unions. On others 
there may be no unions. These newly acquired properties, 
if we have organizations on them, will be brought at once 
under the cooperative plan. If they are unorganized we will 
organize them and bring them under the cooperative plan. 
The first thing we will do in bringing these properties 
under the cooperative agreement will be to establish a wage 
sufficient for the necessaries of life, comfort and saving. 
Then we will establish the profit-sharing on the 50-50 basis. 
The agreement entered into provides for arbitration in case 
of disputes over any of the questions which can not be mutu- 
ally agreed upon. In that respect this agreement is based 
upon the laws of the Amalgamated Association and carries 
the same arbitration provisions as all of our contracts with 
the various companies with which we now deal. 
In working out this agreement for cooperation we have 
carefully surveyed the industrial situation that now prevails. 
Both sides fully appreciate that there is something radically 
wrong with our present basis of dealing, and fully believe, 
if our modern civilization is to continue and advance, our 
economic life must advance equally with civilization, or down 
will go civilization to destruction. Capital, with its autoc- 
racy, must be curbed. Labor, with its curbed and chained 
power, must be freed; and our belief is that the way to bring 
about the proper labor and economic condition is to harness, 
through cooperative organization, labor and capital into a 
united team of industrial democracy, and through coopera- 
tion, each having its own organization, standing squarely 
upon its rights, with the provisions of arbitration, make them 
work even, each pulling its share of the burden and receiving 
its full share of the products produced, keeping in mind the 
public and their respective relations to the same in such a 
manner as to always keep in sight the fact that true success 
depends upon equal justice and the rights of all classes 
concerned. 
We appreciate that this is a big undertaking. Itis a radical 
change. It will have its critics and opponents. We do not