New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-03-11
Gold PRICES. AND WAGES.


There is a great deal of apprehension at
this time among mechanics, labOrers, and
workingmen of all kinds concerning the pros
pect of still further reduction of wages than
such as may have taken place during the past
year. There is widespread talk about lower
prices for everything. There is a loud demand
for decrease of rents, for dmnutlon III the
cost Of the necessaries of life and for cheaper
goods, while of course there is also demand
on the part of employers for decrease Ill the
cost of labor. In the mean time, ii is urged on
behalf Of the industrial, operative. or laborIng
people that they cannot live and make both
lends meetr with any reduction of the present
rate of wages, while at the same time II Is
urged by the business, mercantile, ana manu-
featuring classes, as well as by the property
holders, that it is impossible to bring prices TO
anything like former terms rs long as wages
are so much above old-tlme rates.
Within the last twelvemOnth, there has been
n decrease of wages in many departments OF
labor. and diminution of prices in some kinds
of goods and supplies Houses can now be
erected at rates more than thirty per cent
below what they cost year ago, and the reduc-
ton in the wages of labor during the year
is over twenty per cent. Even the Drick-
layers and plasterers, who two or three years
ago struck for, and obtained higher wages tnan
we're ever paid for any sort OF mechanical
labor, in this, OF any other country, have Deeh
forced to consent to reduction Oh from
twenty to twenty-five per cent. In many otner
trades there has been as great reduction Oh
nav within n recent period; and the same may
be said of that vast body Of men in the city
who are classified as labOrers. The dlmihutioh
in the price of provisions ana the various
nccessaries of life has been irregular. flour Is
but half the price it was i've years ago, ara
can be bought at about ante-war rates. Beef
and other meats are as high as they were
when at their highest. Sugar has fallen to
one-third its war price coffee and butter have
fallen considerably; so have potatoes; coal
has fallen largely; while cotton goods have
latterly been approaching peace rates Though
the wages of many kinds of mechanics and
laborers have been reduced within the last few
months, or during the past year, wages are
vet on an average, twice as high, n0minally,
as before the war. Since the heavy fall IN
gold, employers have been very generally en-
gagged in discussing the necessity OF attempt
ing to bring the rates of wages somewhat
nearer the peace standard than they have been
at any time for the last eight or ten years. III
is not unnatural, Therefore. that the wages
class should display come apprehension in view
of the present state of affairs. They vigorous
IL protest against the threatened reduction OF
wages and demand its pOstponement at least
until there is general and established decrease
in rents and prices. In regard to rents cspecl-
olly the complaints are loud and widespread ;
for the rents of the cheaper order OF houses
have thus far been kept up at the highest war
rates. which are more than double the rates
that were prevalent before the Rebellion.
We do not believe that wages can at this
time be reduced TO tho antc-war standard
because gold has fallen to the present low
quotation. There will doubtless he a further
adjustment of wages and prices, of production
and labor, of rents and property values, as
well as of gold and currency, during the
present year. But the fact that they are all
related to each other, and are all of common
and mutual interest, cannot possibly be dlsre-
gardcd in the regulation that must necessarily
take place We have no doubt that the
industrial and laboring classes will be quite as
ready in preparing themselves to accept the
facts of the situation as the business classes
and property holders. 1t is recognized on all
hands that the inflated prices of the last eight
or ten years cannot be upheld forever. If labor
is cheapened, production must be cheapeued; il
wages are lowered, so also must be the
cost of living We hope the adjustment will
be effected without the prevalence of those
wide spread and destructive strikes which were
the agency of securing the necessary rise of
wages some years ago. We hope it will be
effected without causing renewed arrangement
of business and industry. We have had a
number of strikes in the city and its vicinity
within the last few mOnths--nOne OF them, we
believe, to obtain an advance of wages, but
all of them to prevent the diminution OF
the wages-rate by employers. We do not
think that any one Of these strikes has been
successful. The present are assuredly times in
which there rs loud call upon business men
to act with caution upon workingmen to move
with intelligence, and upon all sorts of men to
live economically and prudently. There will
DO better times for the whole people after bust
ness and industry have returned to their legiti-
mate basis, and when values and prices are
established with something like assurance and
pcrmancnce.
QUESTION AND ANSWER.