Profit-sharing between employer and employee, a study in the evolution of the wages system . profits no longer produces eitherbonus or reward. It is solely equivalent to an event-ual right to a pension, and the employees of theOrleans Company will henceforth much resemblethose of the State Offices. . The cash dividend tothe staff having come to nothing, the zeal and emula-tion of a goodly number among them have disappeaied,together with the hope of this legitimate remunera-tion. Cessante causa, cessat effecUis.*^ For over ten years now, the bonus realized has noteven reached the 10 per cent, f
Profit-sharing between employer and employee, a study in the evolution of the wages system . profits no longer produces eitherbonus or reward. It is solely equivalent to an event-ual right to a pension, and the employees of theOrleans Company will henceforth much resemblethose of the State Offices. . The cash dividend tothe staff having come to nothing, the zeal and emula-tion of a goodly number among them have disappeaied,together with the hope of this legitimate remunera-tion. Cessante causa, cessat effecUis.*^ For over ten years now, the bonus realized has noteven reached the 10 per cent, fixed for the pensionaccount. But as the State guarantees a certain divi-dend to the shareholders, so it also allows the com- IX TRA NiSFOR TA TION 221 pany to class the allotment for pensions under work-ing expenses, the state thus making up the deficiencyin the bonus. Whatever losses, then, the companymay incur, the employee who has served it for twenty-five years receives a pension equivalent to half of hissalary. The Orleans Company does not withhold any PARIS AND ORLEANS part of an employees salary, as do other companies,to establish this pension ; and it thus stands in an at-titude of exceptional liberality. But the employee,under the existing conditions, has absolutely no pecu-niary interest in increasing the profits of the articles of the Statutes and Regulations relative 222 PROFIT SHARING to participation still remain ; but if participation canbe said to exist, it is only in a dormant state. If everthe company should be able to reimburse to the State thesums advanced under its guaranty, then participationmight revive. The obvious moral from the experienceof the Orleans Company, in respect to State interfer-ence with the profit sharing system, needs no is sufficient here to note the entire applicability ofthe plan in the operation of a large railway. The number of employees of the compan}^ not onsalaries was about 10,000 in 1883. The
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Keywords: ., bookcentury1800, bookdecade1880, bookid, booksubjectprofitsharing
