The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1889-10-11
LABOR AND CAPITAL.

industry between the capital and Ia
Dor employed therein. He reasoned
that as labor could produce nothing
without capital, the amount of capital
required to set each individual at work
ought to receive about as large a part
of the profits as the laborer him
self. This, it was rumored would form
a Just division, because, while the
laborer has to support himself, capital
also has to make good all waste and
depreciations of property, and to bear
all losses in the business. Some in
teresting examples were given, tend
ing to show an approximate equality
in division of profits in some depart
ments of industry. But the figures
given were not exceedingly convinc-
ing, nor were they the best attainable.
The census report on railroads
gives the wages actually paid to all
offices and clerks 12,030 as S12.2O9.-
375, and to all other employees (406,-
929) as S183, ,14O,638, making wages
amount to S195, 5,35OO13. The net in
terests paid on debt by all the rail
roads was S108,305,877, and the divi-
dends actually declared amounted to
$70,550,342 making actual payments
to capital S178S54,219. There were
also net profits not divided amount
ing to about S4S,OO0,OOO, but certainly
a part of these were retained by the
company to provide for replacement
and repairs not covered by the annual
statements of expenditure, and it may
be fairly presumed that the compan-
les divided about all they felt at lib
erty to divide On this basis the ac-
tual earnings of labor exclusive of
superintendent were very nearly
equal to those of capital exclusive of
surplus reserved.
Take next the manufacturing re-
turns, which show net products
amounting to$1, ,972, ,755,642 in the cen
sus year. As this is the gross value
of our products less the actual cost of
materials consumed, there must be
deducted something for annual re-
pairs and replacement of plant and
machinery, which may be reckoned at
3 per cent on the reported capital
employed. From the remainder de-
duct all wages actually paid, S947 1853,
795 in the census year, and there re-
mains only $941, ,092669 as all that
can have gone to capital in every
form. In great many cases, too, the
personal labor or the supervision of
owners or employers would be enti-
tied to wages, though none were paid,
but on the other hand the allowance
for repairs and requirements may be
too large. But the comparison again
indicates tendency toward an equal
division of the profits between capital
and labor.
Nothing like SO accurate an esti-
mate can be made as to farming, be-
cause a great part of the work is done
by the farmers or their sons who re-
ceive no wages. On the other hand
BE return of value of products sold or
consumed is notoriously deficient sew
eral hundred millions, if not by ], 400
millions as Mr.. Dodge, the special
agent of the census on agriculture,
publicly estimated. But taking his
comparison as approximately correct
namely that the net products, in
cluding additions to live stock and on
all products consumed on the farms
were about $3,6OOOOO,OOO-an equal
division would give 81 ,SO0,0O0.O0O for
the wages of labor. Now the official
returns made the average of wages on
farms in 1879 S16.i6 monthly, and
there was some advance in 1880
toward the much higher average re-
ported in 1882 Let it be supposed
that the farmers and the agricultural
laborers were all entitled to $17 per
month as wages for labor, which is
certainly putting the labor of an en-
ploying farmer too low, and the wages
due for 100000 persons employed in
agriculture would be at least 1885,
100000. But in addition there were
several hundred thousand workers re-
ported only as ''laborers" who should
have been included In the agricul-
tural return, but were not; and, more
over, no small part of the farm work
is done by the wives and daughters.
A reasonable allowance for wages.
therefore, at the rates actually paid
in the census year would approx
mately cover half, even, of Mr.. Dodge's
estimate of the value of farm pro-
ducts.
These comparisons serve to show
only this-that there is nothing gro
tesque or obviously contradictory to
known facts in the supposition that
labor and capital do now work prac-