The times., 1898-02-20
ject New York: Charles Scribner's,
3mo., $l.50. Washington: All book
sellers)

sellers.)
''The Bargain Theory OF Wages"
The well-worn subject of the fiuctu-
alton of wages is treated in a some
what new fashion in THE Bargain
Theory of Wages by Prof. John Da-'
wilson, Of the University of New
Brunswick The book is. as the author
frankly states, intended for the use
Of advanced classes in economics, and
grew out of the needs of such classes
and the inadequacy Of present text
books. Mr.. Davidson has the disad-
vantage of being several hundred miles
distant from any adequate library ia
cilities, which rather hampers him iii
his references to existing authorities;
on the other hand, he has the adVan-
tage of being in touch with his sub
iect in its English, American and CaA
madam phases, and as the workings OF
the labor union and the methods of the
capitalist differ more or less in these
three fields, this book has an interest
not possessed by most books on the
subject. The author treats, first, OF the
four theories of the way in which the
price of labor is regulated, viz: The
subsistence theory, the waSes-fund
theory. the productivity of labor the
ory, and the bargain theory. He shows
that while each one of these theories
will account for the price Of labor in
certain places, and at certain times,
each Of them fails in other places ane
times. and under different conditions;
and he then brings forward factors
which tend to disturb or to regulate
the price of la Dor, such the mo-
bility of labor. the trade unions, and
the methods of payment of laborers
and endeavors to show how all these
divergent theories are really not conI
Trajectory; and in this he succeeds fair
ly well. 1t is perfectly obvious to any
thinking man that "a factor which con.
trois the price of labor in district
where the laborers are prevented i'm
any way from leaving that special
field, will be much less powerful in a
district which may at any time be
crowded with immigrants or depopu-
lated by emigration and that a theory
based on the absolute power of that
factor would work in the former case
and not in the latter. The last chapter.
in which Mr.. Davidson deals with tho
methods of remuneration. that is to
say monthly or quarterly payments
vs.. weekly payments, and credit VS.
cash, is particularly interesting 1t is
pointed out that the system of truck"
or store credit payment, in vogue il,
some parts of Canada and the United
States. is absolutely bad, not only fol.
the laborer, who is often forced to pay
an exorbitant price for his goods, but.
also in the long run. for the employer
The usual result of this method is
that the laborer becomes more and
more involved in debt, till finally he
robbed of all volition. and is bound by
his debt TO his employer. He is also
likely to feel that since it is his en-
pioyerS interest to give him work so
that he may work out his debt. eff
cheney does not count, and idleness,
lack of ambition. and scamped work
is the result. The system of cash pay.
ments at short intervals is recommend
ed by Mr.. Davidson, as tending to keep
employer and employed on a mutually
independent basis, and prevent en-
croachment of the stronger upon the
rights of the weaker, which from tho
ordinary depravity of human nature.
is natural consequence of a state of
things in which one class has any par
ticular power over another. (New
York: G. p. Putnam's Sons Washing
ton: Brentano.)