The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1868-12-12

&c x,muEB.l
From what we saidiu the article 90 wages
immediately preceding, the reader viii have
understood that efforts to raise the value OF
labor should, as far as possible, be made by
acting either on the demand -tbat il, the
capital of~the c0untry--or On the supply
that is, the number OF laborers, the dGs aiion
OF their work, or the amount Of exer ion
put forth by zach Of them in given time
II tho demand be augmented OF the supply
diminished, or il the former be increased in
. greater ratio or diminished in less ratio
than the later, the value Of labor will newt
ably rise
1t remains, then, for as to consider how
this alteration in the RELATION OF the twS
things 10 eact other can be effected.
IL might appear as II The working classes
could do nothing To promote the Increase Of
capital, since hat lies IN the power II CAPT
talists slcne, iose conduct, as regards saw
ing aud accommodating, win he COVE. ned en-
tneiy BY an II Iellgent self-Interest, the die
tates at winch it Devds NO presentations
On the part Of their work people. or any enc
else, to urge them to follow. But this ina
elhty Of the working classes to promote the
Increase Of ca 1ital, exists only so long as
laborers and capitalists form two distinc,
sections OF the community. The moment
that the laborer binlself begins 10 save for
purposes OF investment, and thus becomes,
In however Email degree, capitalist, his
accunu atoms b. sin " tell upon The. rate OF
wages He may not, indeed, be able TO per-
celve It's action upon his own wsg,s-no Ia
borer or class Of laborers may, in fact, be
conscious Of any effect produced on the
rate OF their Remuneration nevertheless, it
IS almost as certain as any thing can be, that
the iIhcehce has be en- exerted somewhere
or other. Suppose he laborer has deposit
ted bis saving IN = bark the profit OF a
bank is made principally by lending por-
ton 81 its deposits 0 capitalists, who, Of
course, expend in wtges part Of the adj
vances thus made to them. II 1t should
happen that the money saved by the laborer
was placed ID one of the Post Office Saving
Banks, the Effect would be much The same.
Such mode OF investment is, in reality,
but lending to the State, and the more the
State bOrrows from the working classes, the
less It will 1. quHt 10 borrow from others /;
bot other classes have money TO lend, and
VIII look OUT for borrowers. Those they
will I'd IL the ordinary banks Of deposit,
n turn. Il lend the money Sc re-
ctivsd 10 capitali Is, ana thus increase the
amount the latter have to spend IN wages.
There is, indeeI, one way in which the
working classes may more directly and i'm
nedsately, though not, perhaps, more Ger
tAlniy, faise the rate OF wages, and that is
by saving, and inv estins their savings 10 Co
operative manufactures. Il would be d.
grsssion to enlarge here upon the aivanta
gts q tins new system ol industry, but in
any enumeration of these it is W, II that the
iut0ence OF Corporation in augmentiag the
earnings o. the working classes themselves
should not be left out Of sight. Co-opera-
ton in tins respect IS "twica blessed" Ii
benefits the co-optrator who furnishes the
capital, by giving him much larger profit
on his savings than the interest any bank
could possibly afJrd and il benefits the
mere laborer by augmentng the fund from
which bis remuneration is drawn, and thus
increasing the share which he individually
receives.
Tie smount Of good which the working
classes might do themselves ia this way is
almost beyond calculation. They annually
spend millions upon millions, which, BY the
exercise OF a little care and foresight, they
could save, without uenching in The least
upon their real comforts ana legitimate en-
joymeLts. II w0ald be a low estimate to
place the amount they could thus lay BY
ut one-twenueth Of their Income and what
an addition TO the wages fund Of the coun-
try would this make IN f-w years This
Is view OF the QUESTION OF saving celsus
spending which is well worth imprtssing on
the minds OF all classes Those VINO spend,
and especially those who spend more than
they can otford, get the credit Of being open
hearted and generous, while those WHO save
are too often set down as niggardly and
selfish. But saving is often the Iruest gen
crosby for it enables him who saves to BE-
generous to those who have the strongest
cain upon him and prodigaliiy is general
" tbesUhspring Of the purest sehshness-a
selhshness which prefers the qualification Of
a passing within and the good opinion Of
worthless companions, 10 the abiding salts
faction that arises from a sense OF iHdepend-
ence, and the gratitude and affection OF
those whom ties Of kindred or friendship
bind US 10 cherish and support. But saw
ing 10 a working man is deserving OF com
meudsiun on this additional ground, besides
those which exists in the case OF persons
belonging 10 different Tahk-every shilling
be puts by adds to the earnings Of the class
Of which be is a member, and to which his
first Guy is owed The prudent workman
is not only fulfilling bis obligations To him
sell, bis family, and bis lrends, bat to his
order, and thus deserves the esteem Of every
one who can distinguish between sterling
generosity and that spurious article which
SO oft, n assumes its name and galb
At the present day, too, peculiar reason
exists why tile grown Of capital should be
encouraged in every possible way, aud why
the working man, therefore, should bear his
share in contributing to its increase. The
rapid accumulation Of capital t tor the
last half century has been goipp n Great
Britain Is the principal cause OF - compar-
ativ,ly high rate of wages received by the
British operative. The supply Of labc- has
50 largely augmented during hat period
that, but for the extraordinary increase IN
the demand, lis value must inevitably have
sunk TO very low level. Now, hitherto the
capital thus accumulated sought an invest.
mcnt ct home, end only to very limited
extent yeniuTed into other countries. The
instability and dishonesty of foreign gov
eInmtnls, and The insecurity Of Investments
made in places where the capitalist could
not personally supertend the undertakings
in which bis capital was sunk, ard where
the principles OF Trade were but III under
stood, rendered British spectators very re-
luctant TO trust their capital beyond the
shores Of their own country. But, from
circumstances which need not here be fur
ther alluded 10, their confidence 10 foreign
investments has, Of late years, been much
increased, ard hence great deal of capital,
which formerly would have been invested
at home at a moderate rate Of interest, is
tempted abroad by the high rate OF profit
that can be realiz there. A very large
proportion of the accommodations going on
here is thus carried off, and IN this state Of
things il wenld be unsafe 10 calculate upon
any great increase in the rate Of wages aris.
ing ffem the growth Of capital in the hands
OF large capitalists who will probably, year