The Somerset reporter., 1902-08-21
Wide of the Fact.


One OF Somerset's substaptial farmers
and lumbermen wrote the REPORTER,
last week, that the Socialist lecturer at
Lakewood, a week before, stated that
four-fifths Of the earnings of labor went
into the pockets Of capitalists as profits.
OF course no speaker would expect any
thoughtful man to believe such wild
statement as that. 1t must have been
made for effect upon the ignorant and
unthinking.
According to the eleventh census the
value OF the manufactured products of
355, Ais establishments In the United
States, for the year covered by that Gen.
Gus, was $9,372, 437, 1883. The cost of
material was $500, 044 O76 and the
amount paid as wages of all employees
and operatives was 81, 1888, 216 500. This
would leave for various other expenses,
taxes, insurance, repairs, wear and tear
and depreciation Of value of machinery,
interest, rents, commissions, losses, etc..
81 1927, 175,67S. Statistics from the
twelfth census are of about the same
purport.
1t will be seen by the foregoing that,
after deducting cost of material, nearly
three-fifths of the product of this manu-
featuring went to labor and a little more
than two-tifths went to all other ex-
penses, interest and profits. This is
very wide Of the statement attributed
to the Lakewood speaker.
We have the impression that in many
cases capital gets more than It's share OF
the proceeds of manufacturing or OF
business in general, but the fact remains
that this year, 1902, wages are higher and
hours Of labor shorter than ever before
in the history of our great country, and
labor Is better paid in the United States
than in any other country in the wide
world. Furthermore we believe we are
advancing in the right direction and that
succeeding years will show improvement
10 the condition of wage earners In this
country. Few men or women, skilled OF
uDskilled, who want to work, are
obliged to remain idle. There is WORK
enough for all at fair rate of compensa.
ton. Those who do not credit this will
do well to compare the labor situation
with that when the Wilson tariff law
had wrought its sad havoc upon the in.
dustries and businesses Of the country
At this time mammoth business com.
binations, usually termed trusts form q
cloud upon our business horizon. Re-
publican congress have enacted laws
to cope with these where they are in re.
straint of business, and of late efforts
have been made to apply these laws tc
existing evils. This is slow process
with all the delays incident to legal pro.
ceedings against parties who have un.
limited means and who can and do EN-.
ploy able and skilled counsel. Further
statutes seem to be necessary to meet
existing conditions which Republicans
purpose to enact to meet the evil.
All that has been done against trusts
has been by Republican executives. j,
Pierpont Morgan, the prince of trust
creators, was given his start by Presi
dent Cleveland In the job he gave to q
syndicate Of which Morgan was the
head, to fund the last issue of per cent
bonds. He made millions In the opera
ton and acquired practice and prestige
that have been of inestimable value tc
him In the subsequent organization OF
trusts.
Other countries. are troubled with the
trust evil, although not to the same ex.
tent, as yet, that our country la. Our
people are more enterprising in bust
ness affairs, legitimate or otherwise
than those of other countries and are apt
to run such affairs faster and to greater
lengths.