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Anthracite; An Instance of Natural Resource Monopoly
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able American amount annual anthra anthracite coal anthracite fields anthracite region anthracite wages anthracite workers appear average basis capital cent charges cite clothing combination Commission Company compared competition considerable consumer contract miners cost cost of living demand dividends earnings economic effective employed employees equal estimate existence expenses fact figures fixed freight give greater hands higher important income increase industry interests investment labor land Lehigh Valley less living means method miners mining monopoly monopoly power natural resources operators organization owners ownership paid period present profits purchase question railroad Reading reasonable received regarding relation represented result roads secure selling sizes social standard Strike supply surplus things tion United wages workers York
Página 220 - No incorporated company doing the business of a common carrier shall, directly or indirectly, prosecute or engage in mining or manufacturing articles for transportation over its works ; nor shall such company, directly or indirectly, engage in any other business than that of common carriers, or hold or acquire lands, freehold or leasehold, directly or indirectly, except such as shall be necessary for carrying on its business ; but any mining or manufacturing company may carry the products of its...
Página 117 - A number of attempts to ascertain the cost of a decent standard of living have been based on the assumption that physical health, education up to the age of fourteen and the other minimum requirements of modern American life were included in the term "decency." There is a certain minimum of food, clothing, shelter and the other necessaries of life below which physical health and social decency are impossible. That minimum exists in terms of bread and butter, shoes, overcoats, medical attendance and...
Página 61 - June 30, 191.., in accordance with the foregoing specifications; the coal to be delivered in such quantities and at such times as the Government may direct.
Página 101 - ... insufficient to compensate the mine workers in view of the dangerous character of the occupation in relation to accidents, the liability to serious and permanent disease, the high death rate and the short trade life incident to this employment." The Commission found and reported that anthracite coal mining "should be classed as one of the dangerous industries of the country, ranking with several of the most dangerous.
Página 127 - A depreciation charge is one that is made against the wearing out of capital. A paper manufacturer buys a machine for which he pays $1,000. Experience tells him that this machine will wear out in ten years. Therefore the manufacturer sets aside each year a sum which at the end of ten years...
Página 136 - The proportion is higher for manufacturing industries, although it is seldom that more than 10 per cent of the men employed in an established industry hold positions which involve even a moderate amount of responsibility and initiative. The wage scale is fixed either by an agreement between the employer and the union, or by custom and common consent. No one even pretends that there is a definite relation between the values produced by the worker and the wage which he secures. The worker is not paid...
Página 126 - ... present wage scale, paid to workers by American industry, does not enable millions of them to give a family of three young children the simple decencies of life that are necessary to the maintenance of health and efficiency. IV. The American Wage as a Business Proposition The wages paid by American industry to a great body of its workers are inadequate to provide health, efficiency, and decency for a moderate-sized family. They are even more inadequate when .they are considered from the standpoint...
Página 101 - The statistics so far available (which appear in this report under " Hazardous nature of anthracite mining " a) do not show a greater hazard than obtains in some other occupations, notably in the fisheries and in those of switchmen and freight-train crews on our railroads. Still, the requirements are exacting...