Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1879-01-17
Chr Gs9fE County 9grala,
ISLAND FOND, JAN. II, 1879.
LABOR AND CAPITAL.

tween capital and labor have
been so thoroughly and con-
stantly discussed of late, that if
the issues growing out of them
were not Of so lasting and vital
interest, and so material to the
happiness and prosperity of in
dividuals, the mind would have
got tired of them long ago but
as it is every phase of this sub
ject is being discussed with III
creasing interest, and its practi-
cal Importance induces us to
say a word about it. Not that
we expect to improve on what
has been said, or perhaps to say
anything new. It's now being
attempted to prove that there is
no aptagonism between la
Dor and capital, but in the
nature of things the two will
balance each other. Mr.. Cooks
verbose and high-soundinS
theories please large audience
and serve their purpose, but is
it quite certain when applied
to actual use, that the correct
ness of II theory may not mate
rally depend upon whether or
not it is susceptible of being re-
duced to practice. VIII de-
mand and supply exactly bal
anca when there is more Of the
one than Of the other? Can a
rigid system, inficxiblc, but log
ical OH the face Of it, pass these
interests through the sudden
changes incident to society.
without an element Of Aexibili-
ty to meet sudden changes?
For instance, when the coun-
try was flooded with money, us
urers were advancing the plaus-
ible theory that the use Of mon
ely was worth what it would
bring; that if the borrower
wanted money at a given hirh
rate, it should be legal for him
to have it at such rate as his
Judgment dictated. The de-
mand would dictate the true
rule, for no man would seek
capital at greater rate than he
could afford to pay. Ga this
theory men left labor and
sought capital, paid high rates,
ruined nearly every one they
had to deal with and returned
the lender impaired securities
worth less to him than a good
healthy loan at six per cent
would have been. No one
could have found fault with the
theory, but the practical results
ct it anyone of our readers may
see by looking among hundreds
of his acquaintance, whose fl
nancial ruin grew out of at
tempting to apply that theory
to business. Now in relation
to labor it said that the demand
for labor increases in proper
ton to the profits received on
what that labor produces. Il
the profits are small, wages
will aud ought to be low. Il
the former is large, then wages
will of a necessity-be high
This is a fine theory no fauIr
can be found with its logic
But doesn't the result to the la
borer all depend upon the &C
ton of the capitalist ? Wher
-four merchants get togethei
and hold nearly all the flour il
the country, until the prices ar
unreasonable, it is very DOOR re
lief to the poor man when com
PEELED to pay SIS a barrel t.
say to him, Demand and sup
ply will regulate all this witt
justice" lie is unable to finC
any fault with the logic, butht
knows it don't work justly. s.
it is said of the products of la
Dor; but that depends entirel,
on how they are distributed
What good does the enormou
profits Of large concern do t,
the common laborer if nearly al
of it is used implying large sal
aries and making large divi
dends to the capitalists ? It'll
said the dividend is the profits
to be divided By the number 0
laborers, that the quotient will
have the attribute OF correct
ness incident to figures. Nov