National Affairs: Misquoted

A report went far and wide through the press. Mr. Smith Wildman Brookhart, newly nominated for the Senate in Iowa (TIME, June 14), had made a speech to the Iowa Federation of Labor at Mason City. He was reported as having advocated:

"1) Earnings on capital should be limited to 5%.

"2) Earnings over and above the efforts of labor and the use of money should be turned back into the business, one-fourth of the profits to be kept to keep the business progressing and the remainder returned to the members in proportion to the...

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