The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-08-16
TARIFF AND WAGES.

publican policy of protection, as explained and
sustained by Mr.. Blaine in his formal letter of
acceptance, shows that the increase in the
average rate of wages between 1850 and 1860
was about II per cent. The increase in 1870
over 1860 was about 81 per cent. Now the
Suns great point is made. Figures are given
showing that in 1880 the average rate of wages
had decreased about per cent. from that
of 1870 In each statement the average rate
paid for each ten years is given. The Sun
then admits that the average rate of wages was
twenty years of Republican rule than at the
time the Democratic party went out of power.
That there should be small decrease during
the years from 1871 to 1880, inclusive, is not
strange. The financial panic Of 1873, with its
disastrous effects on all kinds Of business en-
terprises, extending over several years, was
quite enough to reduce the pay Of working
men. The Sun seems inclined to fall into the
simple error of expecting wages and wealth to
go embarrassing from decade to decade, without
regard to the impossibility of such thing.
Certain journals have seriously and deliberately
argued that because the wealth of the country
increased about 81 per cent. between 1850 and
1860, the same ratio should be maintained in
definitely, as if such contamination were,
possible. By such plan it were very sim
pie thing for anybody to become immensely
rich. On exactly the same plan the lad who
saves nickel this year, makes it dime next,
and twenty cents the third, doubling each
time, would be worth So, 416, $40. 20 in just
twenty years, or in August, 1904 The alb
surdity of such arguments is apparent enough.
The Sun then makes the equally absurd
statement that ct must be remembered
that : the mechanics and laborers were
paid in greenbacks, which were, for a portion
of the ten years, at discount Of from 100 to
240 per cent" The reader may be excused
in declining to believe that even greenbacks,
under stress of Democratic hostility, could
depreciate to 40 per cent less than no value
at all. The Sun then confidently proceeds to
argue as follows:
CAS- to capital and its profits. We find that
the value of the products of manufactures in
all the States and Territories in the last four
census years was as follows:
1850-value of products ST. ,019 LOG GIG
lS6O-Yalue OF products. 1855 SOL, go
1S10-Yalue Of products ----.----. 4,232, 325, ID
4 ZNa1.1 anev.v ,oka x
"This shows a percentage Of increase in 1860
over 1850 of about 80 per cent, in 1870 over
1860 of about 100 per cent, 1880 over 1870 of
n per cent, although the percentage of wages
decreased, and in 1880 over 1860, the first year
of Republican rule, Of about l84 per cent
This is even more specious than the plea
that the total value of products should in
crease at the rate Of 81 per cent. every decade.
The argument here made means to convey
the idea that while wages of laboring men in
creased but % per cent. from 1860 to 1880,
the profits Of capital have grown 1874 per cent
during the same time. In the value of these
products the writer has purposely slurred
over the cost of materials. Analysing this,
and correcting the false logic, we may state it
thus: The wages paid a contractor to build
house of certain kind increased 20 per cent.
between 1860 and 1880, while the value
of the finished house is increased
l84 per cent Stopping here, the inference to
be drawn is that the capitalist has realized an
increased profit Of 1874 per cent, while the
builder has gained but 20 per cent. The error
here may be found when it is explained that
more, or more valuable, materials have en-
tered into the construction of the house; so
that, with the additional 90 per cent paid for
labor, as shown by the Sun, and more labor re-
| quired at the increase, and, it may be- hum
bred or more per cent. invested in material,
the 1874 per cent. increase in .'value" NAV
easily be accounted for. This is the only
fair statement that can be made
Of this question, and it is beneath the dignity
Of any reputable journal to descend to such
pettifogging as has here been attempted. It
is an insult to the intelligence of the public
as, manifestly, the paper making such argu-
ment does not expect its readers to think and
examine for themselves The aggregate value
Of manufactured products has increased 1874
per cent between 1860 and 1880, because 4
very much greater volume Of capital has been
invested. Tens of thousands more men
have been employed, and according 10 the
Sun, the wages of all this great number has
advanced 20 per cent.
The necessity Of naming good men by the
Republican convention to-day ought to be APP
parent without argument. For the Leoisla-