# Current Social and Economic Issues

## GA 332b — 6 May 1920

### Cover Letter of the “Coming Day”

*THE COMING DAY AG Joint-stock company for the promotion of economic and spiritual values Board of Directors*

Stuttgart, May 6, 1920  
Champignystr. 17  
Tel.: 2555, 2192 and 12103 (Waldorf)  
Telegr. Adr.: Komtag  
Postsch. Kto.: Stuttgart Nr. 19814.  
Reichsbankgirokonto.

We would like to say a few words about the founding of our enterprises, which we were unable to do in the founding brochure. We presented our plans to the movement for the first time on Thursday, March 11, by having the various directors of the individual enterprises introduce themselves to an assembly and explain the foundations and prospects of their enterprises.

Dr. Steiner added an address to these individual presentations, a copy of which is hereby provided to you free of charge. We ask you to consider this, together with the following remarks, as a basis for what is necessary for many to place further trust in the company. This will be expressed above all in the subscription of larger amounts.

The whole plan of our enterprises is to some extent a step towards realizing the idea of threefolding, in that enterprises from the most diverse sectors have been brought together to work in the common interest and to work together. If, in time, it becomes possible to take control of the production of certain items, from raw materials through all the intermediate stages to the finished product, then dependence on external companies will be increasingly eliminated, especially if one is not dependent on the purchase of foreign raw materials. Supplying one's own factories is possible, for example, if the workers in the industrial areas are fed from the agricultural products and the latter in turn supply goods to agriculture in the form of agricultural machinery and the like. The surplus of goods will eventually be given to the consumers,

will have to be sold, which is why it is important to produce goods that will find lasting buyers, even if chaotic conditions arise for a long time. The novel economic system is therefore, in addition to the attitude that inspires all employees, above all that businesses in a wide range of sectors are united on an associative basis. In some cases, it has been possible to treat the companies as branches of the entire undertaking, so that they no longer have their own capital. In this case, the head of the company in question is, similar to the way it is required in the core areas, an administrator of capital who is only concerned with the production of goods. In some cases, however, this form of organization was not feasible, so that certain enterprises continued to work as independent legal entities under their previous name.

In order to balance the funds for the benefit of the whole, a financing institution has been created that is not a commercial enterprise itself, but serves the whole. The charitable character of the enterprise is preserved in that the dividend distribution will be appropriate to the times and can generally be within similar limits to the interest on the loans. Since the shares will not be listed on the stock exchange and are all registered shares, speculation with them is excluded, so that a market value is not an issue for the time being. The low share capital, which bothers many people, stems from the fact that the foundation could not be delayed any longer and that a foundation without imperial approval is only possible up to the now chosen amount of the share capital. An application for a significant increase in the share capital will be made as soon as possible in order to improve the ratio of the share capital to the loans taken out. The subscription of the loans is going so well that we can hope to have the total amount in hand in a short time. After the prospectus was published, it took no longer than two weeks for over 5 million marks to be subscribed.

Apart from the various projects currently in preparation or under negotiation, the sole proprietorships to date are as follows:

Der Kommende Tag A. G., Bank - department that handles the financing of the sole proprietorships.

Der Kommende Tag A. G., publishing house, which has affiliated a printing press.

Der Kommende Tag A. G., chemical works. Schw.[äbisch] Gmünd: This plant will deal with the production of pharmaceutical products in addition to the ongoing production of a barley-based baby food. Guldesmühle Dischingen, with an oil mill and agriculture as well as a sawmill. This corporate complex was voluntarily incorporated by the previous owners in order to be made subservient to our overall movement.

Sondelfingen Slate Works: In addition to the production of burnt lime, artificial stones are to be produced here, for which there is an enormous demand. The mining and delivery of raw slate to industrial plants is also being considered for the near future, because certain plants are using slate instead of coal.

E. C. Hunnius, Stuttgart: This is a trading company that makes purchases for our operations and conducts other commercial transactions.

Gebrüder Gmelin, Reutlingen: The owners of this company, which specializes in trading in agricultural machinery, have also joined our overall ventures.

The profitability of the enterprises is likely because several businesses have been taken over and are in full swing, and the strong hunger for goods will ensure immediate sales. At most, the publishing house could initially require a subsidy, which would have to be raised from the other businesses. Although the publishing house will produce several interesting publications, it will essentially depend on the progress of our entire movement. For the movement, however, the publishing house is not only an absolute necessity, but the only possible way to carry out propaganda in a business-like manner, so that we can hope that the local groups will support the publishing work with all their might. So while the publishing house will significantly advance the movement, the spread of the movement in turn benefits the publishing house the most.

As soon as possible, a research institute for physical, chemical and other scientific research work should also be set up. This enterprise will also initially yield nothing and must be supported by the others, although it should be noted that the expenses will not be too great. The work of this institute will contribute to bringing the results obtained using anthroposophically oriented research methods to public attention and thereby furthering our movement.

With the exception of the publishing house, which will establish branches in several non-German countries, the companies are all located in Württemberg because the current border difficulties, including those with the former federal states, represent insurmountable obstacles to smooth business. For this reason, the affiliation of companies not located in Württemberg is out of the question for the time being.

We hope that this has given you an overview of the background and intentions. You can see that the idea is not a cooperative one, but that the companies have come together on an associative basis.

THE COMING DAY  
A.G. for the promotion of economic and spiritual values.  
[Sign.] Kühn, K. Haußer