Magazine content is available exclusively for TIME subscribers.INDUSTRY: Sheer Economic Insanity
Nothing makes the sick U.S. coal industry sicker than the prospect of a new wage demand by John L. Lewis' United Mine Workers. Last week, with the time for reopening of negotiations only a few days away, Joseph E. Moody, president of the Southern Coal Producers Association, gave Lewis an angry warning.
"Another proposal for a wage increase," said Moody, "may be accepted by dominant members of the industry despite the fact that it is sheer economic insanity. Such an increase can result in nothing but disaster and chaos. It will wreck our southern industry, put most of our workers on...
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