Daily evening star. [volume] (Washington [D.C.]) 1852-1854, 1854-08-28
$44 90 SIS % SD (.

20 lbs, cheese at 10 cts. 2 90 IGp q
~.-.- a-,..-ssr' $44 90 SIS 90 SO .;
Such were the wages of common ID
borer in Boston in the years mentioned
above, and such the price of the eom1nod-
ities specified. . 20 .a.-'oa Il pa. -e-,
1t appears, then, that in 1886 in re-
quired the labor of 35a days (enitting in
ali cases unimpertant fractionsb to pay
for the above commodities while in
l840 it required only the labor of 20
days, and in lS43 that of only % days
to pay for the same; and thus the i'm.
portant fact is disclosed that while the
nominal rate IF wages was higher by 25
per cent. in 1886 than in 1S40. or 1S43,
yet the real wages were % per cent in
1s4O, and 90 per cent. in lS43, higher
than in 1886. % y ,. D. = b.
This affords striking illustration Of
the difference between money wag S and
corn wages, asthey are sometimes called;
or, in other words, between the nominal
and actual reward which the laborer ne.
ceives for his services. e. -aolg
We do not that there would be
throughout as great difference as shown
by the foregoing table, because all COM
modities would not vary, perhaps, as
much within short period as those we
have selected. Rent, and some other
charges which the laborer must incur,
would not, perhaps, be as much affected
10y fluctuations in prices, yet the fore
going undoubtedly affords anapproxima-
ton to, the general fact, and is sufficient
not only to establish our principle, but
to prove that the subject is worthy the
attention of political economists as well
as laborers. ~ " -' VOL
Another obvious difference, between
nominal and real wages arises often from
a mere change of location. For example,
a carpenter who could obtain but $1.25
in Vermont, might, by going to New
York city, get 50. or to New Orleans
$3.50; yet it would be found, perhaps,
that If all things were taken into the &C
count, if the expenses ofmaintaining him
self and family in health and comfort wer'
well considered, the wages obtained II
Vermont might be greater than in New
York or New Orleans. g-i q P. -...
PRoPORTIoNATE RISE AND FALL OF WAGES
Although wages rise and fall with tn,
general fall of commodities, they do moi
do soin equal proportion. The fact j
one Of common observation; but the rea
son of this variation We don't recollec
to have seen stated. Il is, however, ap
parent on little reflection. Forall ma
terial products, there is both an actua
and speculative demand-for. labor
there is only an actual demand. vWhel
business begins to be particularly pros
porous, and there is a general demand
for all kinds of merchandise, prices vii
gradually begin to improve. This vii
give rise at once to a speculative demand
tor to buy will be to realize in advance
the larger the purchases the greater tn,
profits; for every operation pays. Tht
speculative demand goes on until ever,
article bought and sold as merchandis,
goes up to its highest limit. ~ ''a a..
But no one speculates in wages. NJ
one can, if he would, purchase . hundre(
thousand dollars worth of labor and hole
labor an advance as he can Of every arti
Gle that the laborer consumes. OF course
labor has no advantage from this kind o
demand which affects other things, bu
must rely entirely on that kind which i,
immediate and actual. Therefore, a gen
eral rise of prices must always .operat,
against the laborer or person employed
on salary or wages. ''.-.l - - .-'.'
But wages not only never rise SO mucl
as other commodities, but never rise s,
soon. The reason is that the rise o
commodities is greatly accelerated by tn
speculative demand, while labor is not
as before stated, affected by that kind Q
demand at all. Hence, it does not ris
until speculation has engendered a spiri
Of extravaganza and increased consump
ton, and then wages take an advanc
about half as great on an average as tha
of merchandise and other things.
Wages fall sooner, because merchan
disc may be and is held for High prices
if need be. Its fallis broken by the dis
position and ability of the owners to hoi
on, and, as tar as possible, prevent loss
but the laborer cannot hold Oar-he mus
sell his ,eommodityat once fortha5 mos
it will bring. 10 o.l4.. :iGl al. get
It,is for this very obvious, reason tha
wages, in, times of depression, must fll
not only sooner, but M lover than pEePeFe
no ffs9s fsRsIat; nsg sSsasSi sSss5ii in 1887 ;pd 1858
when the Wages G common lAbof y fos, Z g,
ton fell, dom 81 2b to IN syeTageofs s9a
cents, making : diasreoeelof uoss than
,95 ne,lcent. :while semsl0di ties fell but
about 5 per cent dAbf therefore
suffered greatly during these two years,
Ieg s;aI ;tse fscoffActed by those familiar