Daily press. [volume] (Newport News, Va.) 1896-current, 1907-08-08
THURSDAY, AUGUST $. 1907.
INCOME OF CAPITAL AND LABOR.

INCOME OF ChPl Al ANU LReOh'
Some very interesting calculations
have been made by tho Engineering
News concerning the relative income
of capital and labor, with n view OF
showing that labor receives far
greater share of the annual wealth
production than some of the agilators
would have us suppose. and that the
discomfort which is fostcrod by their
assertions Is not well founded Tho
Engineering News states that the In
comc.produoing property In this coun-
try is about $4,000, 900, 600. 1t makes
It's estimates from the census figures
and to find what this homeopathic
ing property Is earning for It's own
ers the Engineering News takes the
average amount which the railways
paid In interest on bonds and diyi.
dcnds on stocks in 1904. II finds that
this amount was four and ono quarter
per cent. This amount Is chosen be-
caugo the figures arc accurate, AS far
as the railroads are concerned, 1t Ia
agreed that there Is much property
which does not earn MS much as that
and some that earns more, ana II con
siders that four and one quarter por
cent. Is above. rather than hollow, tho
average. On that LASTS the 1900.
900, 1000 of invested capital earned for
its owners S3,53l0OO000. That iii.
ishcs up the figures for the capital
side of the column
Turning over the page, here Is what
we find labor reaps: Estimating ono
working person to every three and
one-half persons. the Engineering
News reaches a grand total OF $4,000,
600 wage cnrncrs. or these there were
1882 900 engaged In railway work. re-
ceiving an annual wage of $G0S. Then
there were some 100000 persons
working In tho factories OF manufac.
turing concerns and receiving wage
of $3.50 an Individual. The News
says that exact figures cannot be OBJ
tanned for the rest of the working
world, but 1t believes taat the 1900,
600 engaged in professional pursuits
earn higher average income than
either of the figures quoted, while tho
1O,500,000 persons engaged In agricul-
ture. and the 100000 engaged In do
mestic and personal service receive
less. Therefore the average annual
income of the 23,000,OO0 wage carncrs
is put at $3.50 per annum II these
figures be accepted US correct then
labor receives each year $tO,3iO,0 00,-
600 as against tho $3,53i 900 900
which stands on the side OF capital.
In order TO present its case more for
chilly to its readers. the Engineering
News says:
But in making this comparison be
tween the earnings of capital and tho
earnings of labor we must he careful
not to make the common mistake OF
identifying capital with wealth and
labor with poverty. A large part of
the Si07000,OOO.OO of wealth in the
United States is actually the property
of the wage-workers themselves. The
huge accumulations of wealth by the
few multi'milllonaires bulk large in
the popular mind. but they are really
small compared with the accumulated
savings of the millions of people OF
moderate means. The deposits in the
savings banks of the United States
last year exceeded s3,fS2 .0O0,OO That
this Is the property of people OF small
means Is well known to every one
andsis practically proved by the fact
that the average size of each deposit