From my earliest acquaintance with the science of political economy, it has been evident to my mind that capital was the product of labor, and that therefore, in its best analysis there could be no natural conflict between capital and labor.

In a condition of society and under an industrial organization which places labor completely at the mercy of capital, the accumulations of capital will necessarily be rapid, and an unequal distribution of wealth is at once to be observed.

The country blacksmith who employs no journeyman is never conscious of any conflict between the capital invested in his anvil, hammer and bellows, and the labor he performs with them, because in fact, there is none.

Government itself is founded upon the great doctrine of the consent of the governed, and has its cornerstone in the memorable principle that men are endowed with inalienable rights.

From my earliest acquaintance with the science of political economy, it has been evident to my mind that capital was the product of labor, and that therefore, in its best analysis there could be no natural conflict between capital and labor.

The production of wealth is the result of agreement between labor and capital, between employer and employed. Its distribution, therefore, will follow the law of its creation, or great injustice will be done.

Each co-operative institution will become a school of business in which each member will acquire a knowledge of the laws of trade and commerce.