The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1866-07-14
what Governs the Raae Of
Wnges?
(rrom the London working
TcoNTrNuEp.l

the influences oy wnlcn " IS auected. FOR
this purpose it became necessary to consider
the nature Of the laws Of Political Economy
In general; and it appeared we trust, suf-
fciently plain that il was . mistake 70 re-
gard them in the light Of inhexible rules,
which no human effort would avail 10 sbro-
gate or amend-irresistible forces, oil oppo-
siticn to which would be IS disastrous rs it
was vain. We thought it necessary to de-
nounce this dogma, this new form OF fatal
ism, which represents the human race ~ the
sport Of powers resistless and relentless as
the destinies of classic fables, whose favor
Is to be conciiated bY humble submission,
and TO whom the future Of the species is to
be blindly entrusted, Ia the vague hope that
they viii in the end bring Us to an economic
millennium The laws Of that branch Of
Political Economy within which questions
concerning wages fall, were found to be OF
quite different character. While some o
them have their source in the nature of
things-in the bodily and mental constitu-
ton of man, and the condition Of the external
world--and are, therefore, in no way the
work of our hands, others are altogether the
creation of society, which by some Of the
various instruments through which it makes
its power felt by law or usage, by physical
force OF moral compuision, modifies or de-
stroy' the effect which the former would, if
unimpeded, produce.
Having clearly appTehended this funda-
mental truth, our next step will be to in
Quire what, in the case of wages, are those
natural laws who's influence it is soughtstO
control for good?
Now, the law which more particularly APP
plies to the rate of wages Is that which is
known as the law of demand and supply.
1t may be stated in helwo propositions fol-
lowing:-l. Indef a system Of unrestricted
competition, the value Of any article Of com
merce has a1endency to rise with every IN
crease in the demand, and wi'h every de-
crease in the supply and has .enaency
10 tall with every decrease In the demand,
and with every Increase IN the supply. 2.
The level at which value finally settles is
spch, that the quantity Of the article offered
Tor sale A. that particular value will be ex-
actly equal TO the quantity which, az that
particn,sr value, purchasers will be willing
10 buy
Such being the universal law Of value ap-
plicable to every article Of commerce, labor
whenever It becomes an article Of Commerce
lin other words, whenever it Is offered for
sale-must have its value determined by this
principle. Aud it is, perhaps, not iminase-
rial to remark that the nature of the services
rendered by the lAborer makes no difference
in this respect. Under 3 system of pure
competition, the reward OF poet, artist, and
actor, lawyer, physician, and divine, artisan,
factory operative, and farm servant, Is regu-
lated altogether by the demand for, and the
supply Of, the particular class OF services
they severaily perform.
COH6ning our attention. however, to the
class with which the Nottingham is more
especially concerned-namely, those who
labor with their hands--let US inquire what
are the circumstances upon which the de-
mand for, and the supply of their services,
depend
Now, as to the former-the demand-who
are the great purchasers of labor? Govern
menI buys some; the State employs many
thousand men as soldiers, sailors, and POI
lice; private persons purchase . good deal,
that Of domesa,s especially. But large as
is the demarc of the State and private per-
sons combined, far the greater proportion of
the labor of the country. is bought by Capri
talists and it is upon their requirements
that the demand for labor principally de-
ponds. Leaving out Of consideration any
question respecting the extent to which, in
the progress of invention, manual labor is
superseded by machinery, the quantity oil
labor required by q capitalist Is determined
by the amount Of his capital. In discus
sion, then, necessarily so concise and prac-
tical rs this, it may be laid down as q gene
raj proposition that the demand for labor in
creases with the increase Of capital, and d.
minishes with its diminution.
Thn a..rnlu of labor IN the nfhar hauH
evidently depends on three things IL. The,
number Of persons able and willing to work
2. The amount of exertion each Of them puts
forth in given time; in short, their aver
age energy. 8. The proportion Of his time
which, on the average, laborer spends a
work the number of hours in the day, Of
days in the year ed Of years Of his life be
is actually engaged at his occupation.
Such being the circumstances upon which
demand and supply depend 10 the case Of
labor, its value obviously tends to rise or fau
according TO the increase or decrease of CAPT.
tai, ard according to the decrease or increase
Of the number Of laborers, their industrial
energy, and the time they work. From this,
the further inference Immediately follows
that to act on the value Of labor, il is only
necessary to act upon capital, on the one
hand, or upon the number Of laborers, their
: industrial energy, or the duution Of their
period Of work, on the other. These four
things constitute the mechanism through
which any alteration in the value Of labor is
- to be effected.
While maintaining, however, as we have
done in the most unequivocal aud emphatic
manner, the possibility Of controlling the
spontaneous action OF ti.ose laws Of Political