Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1886-10-14


The farmer, gardener and planter are
abundantly protected at every point by
the tariff, as every intelligent member of
this class of workers well knows.
In the same address Mr.. Vest made use
of the following words:
The census of 1880 shows the capital
invested in manufactures throughout the
United States to be S2,S00,t 10000, and
the number of persons employed 2,737,-
600, whose wages annually amounted to
$9+7, 100000. This gives TO each operative
S346 year, or ninety seven cents
day.
These operatives received S3,39i, 000,-
000 worth of materials, and worked them
into finished products worth $500, 100000
being an added value of S2,OOO,0 100000,
which represents the labor IN the finish
ed products, so that each of the 2,737000
operatives in the United States earned
$3.50. Instead of leceiving this each
operative was paid only 1916, leaving 1884
to the employer.
The total earnings of these 2,737 OO9,-
600 operatives being $4,000. 100000, of
this amount $947, 100000 was paid in
wages, leaving 1864, 100000 for the CAPT
talists. In other words the capitalists
received 81 per cent. on their invest
ments.
This statement is misleading in two par
! ticulars. The amount Of the wages paid
in 1879, as shown in the census report for
1880, which Mr.Vest quotes, was S9i7 ,9l9,
GA, as the senator announced. And this
divided among the 2,738 $3.50 hands en-
ployed made shout $346 year. Mr. Vest
4 tat 10 orb ba
did not snow that this 9i7,000,O00 in
wages was the amount paid to the factory
! operatives only. The foremen, oyerseers,
uperntendents, bOokkeepers, clerks,
/ etc, etc. employed in and around the
| factories were not included in this List
| The list in fact comprised merely those
who did the ordinary work Of the 1iifls
for which, in most cases, little or no skill
| f. required. This fact, we viii DO CHART
able enough to believe, Mr.. Vest did not
know. II the wages Of the innumercblc
high and low salaried employees referred
to be added TO the S947, 100000 given 70
the operatives Mr.. Vest viii perhaps see
that the amount which he DECLARES goes 70
the capitalists will be considerably les
seued. He will Sc j, indeed that they do
not and can not 'reGeive3l per cent Pm
their Investments
We have intimated that the senator
may have honestly believed that s9t7G00i.I
600 was all which the. manufactrrers paid
for wages. and that therefore there was
left 81 .ob3, 100000 for tho capitalists
When he declared however,, that the
capitalists received n per cent. on their
Investments OF S3,394 100000 he un-
doubtedly intended that his hearers
should assume that this 81 per cent. was
clear profit If this inference be correct
he deliberately intended to mislead For
Mr.. Vest, with all his political eccentricl-
ties and obliquites, IL not an IDIOT He
knows, if the majority OF his audience lid
mote that wages and cost Of raw material
are not the only elements which enter in
to tho expense Of a manufactured pro-
duct, and which determines the profit TO
the employer. To these must be added
the interest on the money invested in the
factory property, the insurance, expense
Of storage and Of shipment to warerooms,
and numerous other items of expenditure
incident to all manufacturing industries.
All Of these item. of cost must be deduct
ed from the price Received for the finished
product before Receipts balance expendl-
lures. The excess of receipts over this
amount il the profit n these factsiwere
not known 10 Mr.. Vest he is not qualified
to discuss the tariff question. II they