Latter-day Problems

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C. Scribner's sons, 1917 - Banks and banking - 361 pages
 

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Page 157 - Iroquois army, which we knew was coming that way; though we must suffer all the time from hunger; sleep on the open ground, and often without food; watch by night and march by day, loaded with baggage, such as blanket, clothing, kettle, hatchet, gun, powder, lead, and skins to make moccasins; sometimes pushing through thickets, sometimes climbing rocks covered with ice and snow, sometimes wading whole days through marshes where the water was waist-deep or even more, at a season when the snow was...
Page 6 - If the whole supply of laborers is thus introduced into the field of employment, then the rate of wages for all in any one occupation can never be more than that rate which will warrant the employment of all — that is, the market rate. Also wholly aside from the influence of demand, in order to control the rate of wages, the unions which include all laborers must effectually control, not only immigration, but also the birth-rate.
Page 17 - ... bucking" against an oversupply by an ineffective monopoly. To the laborer who wishes higher wages the advantage of the former over the latter is so evident and so great that further illustration or emphasis on this point would be out of place. In the economic history of the last fifty or sixty years in the United States and Great Britain it appears that money wages have risen from about fifty per cent, for unskilled labor to over one hundred per cent, for higher grades of work, while the hours...
Page 253 - ... with it an increase in the expenses of production, and of prices, which automatically reduces the purchasing power of the higher wages to the old level. There is no hope for this principle either in law or economics. It does not work in the interests of labor. There are two sets of forces inaction, independent of each other. On the one hand, wages are to be raised; on the other, prices are to be raised. These two sets of forces are not under common control. The one nullifies the other. Now, what...
Page 197 - ... estimate placed upon the worth of property regarded as a business proposition. This must, of course, be the market estimate and not the arbitrary estimate of a public official. The two fundamental considerations by which the market is influenced in placing a value upon property when bought or sold are the expectation of income arising from the use of the property, and the strategic significance of the property. These two considerations are made the basis of the valuation of railway property submitted...
Page 260 - ... are only symptoms — is due primarily to the fact that women thrown on their own resources know no trade and crowd each other in the market for unskilled labor. The remedy lies in the creation of places of instruction where any woman (no matter how poor) shall be taught a trade and have' skill given her by which she can obtain a living wage. The remedy lies in preventing a congestion of unskilled feminine labor by industrial education. There is no other rational or permanent or human way out...
Page 278 - Not only are unions to provide "just wages," but to bring about an equitable distribution of wealth : Trade-unionism stands for the constructive development of society, it seeks the more equitable distribution of wealth in order that all our people may develop to the extent of their highest and best possibilities.To such an extent has this type of mind gone in insisting on the union as the one agent at hand for bringing about a rise of wages and the progress upwards of the laboring classes that its...
Page 93 - Hall was founded, said Barnett, to carry a message to the poor expressed in the life of brother men. That is, if new ideals, or new principles of ethics, were to be implanted in those who had wrong ideals, or none at all, they must be enacted in the lives of those who come to live in the settlement. Edward Denison said as early as 1867: "Those who would teach must live among those who are to be taught," — which, after all, was the rule of Loyola for the Jesuits, and it is undeniably true. It may...
Page 354 - Democracy rejected the proposal of the superman who should rise through sacrifice of the many. It insists that the full development of each individual is not only a right, but a duty to society ; and that our best hope for civilization lies not in uniformity, but in wide differentiation.
Page 7 - At the best, if they can fix the rate of wages which employers must pay those who do work, some will remain unemployed. In such a case, the working members must support the idle — which is equivalent to a reduction of the wages of those who work — or the unemployed must seek work elsewhere. Sooner or later, for men capable of doing a particular sort of work an adjustment as a whole between the demand for laborers and the supply of them must be reached on the basis of a market rate. Whatever the...

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