responsibility to society just as much as the owner has, to see that society is not deprived of the service necessary for its existence.
The railroad manager is hampered in obtaining absolute precision and reliability, not alone by the human equation, but by the operation of the force M. Leroy-Beaulieu points out. Over many of the employees his authority is divided with the labor unions, which exercise a powerful influence in determining the extent of the authority he is to be permitted to exercise over their members. To the unions he must look for acquiescence not alone in the rates of pay and terms of employment, but in the rules he makes, the authority he exercises over men charged with various duties, and the obligations under which a large number of men work. His power to cull his forces and discard not only the unfit, but those who do not demonstrate their entire capability, is limited.
The American people have corrected some of the errors in corporate management and realize that organized capital is necessary to
