The weekly Iberian. (New Iberia, La.) 1894-1946, 1903-09-26
: LABOR COLUMN.
Devoted TO the Interests of The Laborer.
New Iberia, /;
.evesss ee&e@ssssese

I3~ IL = 'fpR - iiS ~ IN iNiHs i!itil
the other economists assume, we
might cou>ltt"r the fluctuations as
a law. AM asam be the fixit Z Of
price ~ cost Of production to
chance But il we look closely we
see that it is precisely these fIuc-
tuations, although they bring the
most terrible desolatiOn in their
train, and Sh AXE the fabric Of
small business interest like earth,
quakeS, it Is precisely these fluc-
tuationS which II their course d.
termine price by cost Of prQJ,Ir.
ton. In the totaity Of tdls dis,r
DERBY movement is TO be fCnyd its
order. Throughout tncye aIterno.
ting movements in tie course of
OF this industrial aD'archv, compe-
titon, as it wert cancels one .x.
cess oy means OF another.
we gather, therefore, that the
pace Of a cow modify Is determined
oy It's cost of prodnc ion, in such
y manner periods in which the
price ~ this commodity rises a0o
vs. LIZ cost Of production are com
pepSated by the periods in which
10 SINKS below This cost. and con
verSely. Ofcourse this does not
hold good for one single partice-
lar product of an industry, but
only for that entire branch of in
du>try. SO al>o it does not hold
good for particular manufacture,
but only for the entire industrial
class.
The determination of price by
cost Of production is the same
thug as It's determination bv the
duration OF the labor wb ,ich is re-
CURED for the manufacture of a
commodity; for cost Of production
may be di vided in'o one raw ma.
terIai, that Is, prOdu t of industry
whose manufacture has cost a GER
tam number OF days work. and
which therefore represents a Ger.
Ialh duration OF labor; and GU ac.
tual labor, which is measured bv
its duration.
Now, the same gene al laws
which uniyer sally regulate the
the price of Commodities. reourate
wag es-the price of labor
Wages VIII rise and fall i'm acco. |
dance with the proportion between
demand ard supply, that is, in
accordance with the conditions of |
the competition between capitalist
as buyers, and laborers. as seller
OF labor. The fluct uations of wa
ges correspond in general with the
fluctuations in the price of commo
Titles. Within these fluctuations
The p ice OF labor is regulated bv
lis cost OF production, that is. bv
tue duration of labor which j. re.
CURED III order to produce this
;omnodity-labor.
Now, what Is the cost of produc
ion of labor itself?
lt Is the cost required for the
Of a lahore, and for
us maintenance as a Iaborer. The
shorter the time requisites for in
tructlon in any labor, the less is
he iaDorer's cost Of prod
md the lower are his wages. the
rice of his work. La those bran.
hes of industry which scarcely re-
uire any peroid of apprenticeship
no where the mere bodily exis
'nce Oh The laborer is sufficient
ne requisite cost of his produc-
on and maintenance are almost
mlted TO the cost of the commody,P
es which are requisites to key
I'm alive. The price of his laty
'erefore determined by the. Il
the bare accessories of, , ,ric
tence. - n,
'ie'e however, another
'ioh comes in. The III cor sid'
10 feckons up his anufactul
functions aud dr. expences I
rdlngly the price termines a
fes into account of the produc
u Of the mach the wear al
me cost him .inery. If III
elf out in $1,000 and wea
% a year zen years, he adj
DDS in ord the price of b
maehip er to replace the wo
4 Il,