Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1893-09-24

When was boy my father was a
mechanic. 1 was familiar with the
wages Of mechanics. lived among
them and was brought up with them.
Nasons, carpenters and cabinet makers
used to be paid forty years ago one dol
lar and fifty cents per day; that was
the current "a tie Of wages. Now tpe
wages run rom two fifty to four
dollars. l think three dollars per
day fair average for mechanics
wages to-day in the city OF New York.
In every branch Of business, black
smiths, engiT GERS, machinists, every
body that I have to do with are certain
tainly getting twice as much wages as
the same class OF men got fifty years
ago. Now, wages are relative. 1t
might be that twice as much in reality
would not be as much as the wages OF
fifty years ag). As q matter OF fact
the necessarie OF life have diminished
almost In the same ratio that the wages
of labor have gone up; for instance,
-four wheat in 1860 ranged from
SI.35 to S1.7O bushei and 1t
ran along, fluctuating of course with
seasons. until 1898 il fluctUated be-
tween ffty-s even and eighty cents a
bushel. Wheat is the best measure
there is of the cost of living. Wheat or
corn is the b asis upon which all other
articles of food are priced. Therefore,
this enormous Increase or wealth has
gone very lar gely into the possession OF
the wage earnees of the world, and par
ticularly of the United States.
There is 81 complaint that capital is
getting mOIe than its share, and In
some cases IL undoubtedly Is. But TAX
ing the great aggregate Of the business,
cspitsl is geSting a smaller percentage
wear by year. am not now dealing
with assertions. These arc facts de-
duced from the actual statistics. Capt.
tai is getting q smaller percentage, year
by wear, although IL may get In the ag-
gregate larger amount each year than
il got before, for the reason that capt.
tai is the more active owing to the tele-
graph and the various labor saving ma
chimes which have been introduced. 1t
is enabled I'd turn itself more frequent
ly, and the reiore can afford to DO the
business for a less rate Of remuneration
on each transaction.
Take the railroads as the best exam
pie. There were 10 the United States
over one hundred and twenty thou
sand miles of railway on the 1st OF
January. The nominal cost Of these
railroads is about nine thousand mil
lions OF doSlsrs or nine billions OF dol
lars. 1t constitutes about one-tifth OF
the entire accumulated property OF the
United States. Now the returns care
fully tabulated and made up to the lst
of January show that OF this enormous
sum OF nine thousand millions OF dol
lars represented by bond and stock
the bonds earned on an average less
than four and one-haH per cent. per
annum-that Is about the amount
which savings banks will pay for mon
ev deposited with them, where il is sup
posed to be without risk. IL is less
than the amount which money can be
loaned at on bond and mortgage on city
property. II produces four and three
tenths per cent, and the stock pro-
duces one and seyenty-One hundredths
per cent. Now it is said that the stock
is watered, but squeeze all the water
out, squeeze tWo-thirdS OF 1t out
think that is pretty big margin to be
squeezed out OF stock, isn't itP Squeeze
out two.thirds Of this and the Te
maiRder will leave the actual money
put into the property as earning
about five per cent. Railroad prop
erty represents one-ffth Of the capital
of the United States It is receiving
about five per cent. upon the squeezed
stock and considerably less upon the
bonds taken together-perhaps four
and one-half per cent. upon the aggre-
gate.
Now is that an unreasonable eompen-
sati0n Tor the people who save their
money and keep it where 1t can be
used to carry on these great enter
urises? II man Is to have nothing
for his capital, what motive has be got
to save it? Remember that X capital
used ia business was obliterated the
world would simply perish In year.
II you lock capital Up, II you lock np
The accumulation Of capital for thirty
DAYS in TX city, You have VIC,
Isnf pa "a the nrst duty