The Sun.
London, England, 1834-04-04 00:00:00

posed to raise its value for a time, through the excess
thereby produced, but which excess is removed by
the operation of the exchangeable value of gold,
in which, moreover, even the alternation is mea-
sured. Neither are we sufficiently aware that the
excess of paper currency, during the time it lasts,
operates exactly as the debasement of the coin
does until it is corrected ; that is, it raises home
prices, and obliges all persons to take it in payment,
or to part with so many, or so much more of their
commodities than they ought to do, for the currency
which they receive, while it is excessive. Nor do we,
in general, distinctly comprehend why money con-
tinues to rise in exchangeable value, though it is upon
the principle of supply and demand ; that is, the
supply of gold and silver having become unequal to the
demand for them, they rise in exchangeable value ;
whereby a smaller portion of them purchases a larger
portion of other commodities.
" Wages, or the price of labour must, therefore,
come down, as every thing else comes down in propor-
tion as money continues to rise in exchangeable value.
This is an inevitable consequence of a rise in the et-
changeable value of money, which the working classes
must learn. But, as those above them are slow to
comprehend how a continuing rise in the exchangeable
value of money, in matters in which they are concerned,
should lower prices, it is not surprising that the work-
ing classes should find it difficult to understand why
theirweagxeehsangbe
should come
of down
monweiy.th a continuing rise
in the
" The Legislature should resort to all the means
within its reach, in order that the working classes may
be instructed and satisfied in this respect; but it should
do nothing more, excepting to afford the power of
punishing any workman refusing to work at the rate
of wages which may be offered to him, who shall
hinder or prevent any other workmen from working,
who may be willing to work at such rate of wages.
Labour is the property of a working man,—every one
of whom is entitled to use his own property as he
pleases, provided he does not injure the property of his
neighbour; but he does injure the property of his
neighbour when he hinders or prevents him from
working; for his neighbour is just as much entitled
to work as he is entitled to refuse to work, and each
is entitled to work upon any terms he pleases.
Mr. MUNDELL proceeds to observe that--
" Money having fallen much in exchangeable value
through the discovery of the South American mines, it
was impossible to enforce the wages settled by the sta-
tute of labourers a century before ; but, in place of
leaving wages, like everything else, to bring their
own price in the market, the Legislature, after
passing several intermediate statutes, finally, in
Queen Elizabeth's time (anno 1562), directed and
empowered justices of the peace, in the spring
of every year, to rate and appoint the wages of
artificers, handicraftsmen, husbandmen, or any other
labourers, servants, or workmen (s.„,gliz. c. 4.) ;
which statute was explained to mean any labourers,
weavers, workmen, and workwomen whatsoever,
either working by the day, week, month, or
year ; or taking any work of any person or persons
whatsoever, to be done in grate or otherwise. (1 Jas.
1., c. 6.) And power to settle wages was further given
to the justices, in all cases of differences and disputes
between masters and mistresses, and servants in hus-
bandry, who should happen to be hired for one year or
longer : or between masters and mistresses, and arti-
ficers, handicraftsmen, miners, colliers, kielmen, pit-
men, glassmen, porters, and other labourers, employed
for any certain time, or in any other manner, although
no rate or assessment of wages had been made for the
year in which the differences or disputes might arise,
limited, however, to the amount of 101. (10 Geo. II
c. 19.)

" the legislature thus granted a power to interfere
in matters of wages to the worst description of judges,
where the interference of the best could not be other-
wise than attended with mischief. Contracts or agree-
ments for wages or work, may and should be enforced
by law; but the terms of those contracts or agree-
ments, like those of all other contracts or agree-
ments, should be left to the parties themselves to
settle ; and it should only be what the parties them-
selves had settled that should be enforced. Facili-
ties may be afforded, by arbitration or otherwise, to
settle such disputes ; but in the proper protection to
be thus extended to a poor man, care should be taken
to do nothing that should prevent the master from em-
ploying him, by doing more than to establish a domes-
tic tribunal, which shall do equal justice to both.
" A labour rate, which has been sought to be esta-
blished, is an interference with labour in the most ob-
jectionable shape. It not only seeks to compel a master
to take a labouring servant whether he wants him or
no, but to compel him to take a servant, not of his own
choice, but thrust upon him by others. It is a palli-
ative, which, ultimately, increases the pressure it at-
tempts to relieve, springing from an abuse of the Poor
Laws, which must be corrected."