Omaha daily bee., 1909-11-07
WHY LABOR PROSPERS HERE
English Statisticisn Gives Results Of
Observations.
LABOR CONDITIONS IN EUROPE
Rate OF Wages Relatively Higher IN
the United states-ssvinss of
the People and Growth in
Population.

That American wage earners are mater
tally better off, both in point Of income
from their labor and OF savings left after
their living cost has been paid. than the
wage earners OF England, is the opinion Of
George Palsh, the editor Of the london
Statist, who IL now on a tour Of the United
States and Canada. Mr.. Palsh has ad-
dressed his American observations p%articu-
larry to the answering this question on ac-
count Of certain specific inquiries which
we're put to him before he left the other
side for this trip, and also because OF the
endless discussion which the matter OF
comparative wages and living conditions
invokes on both sides Of the water.
To representative OF the New York Times
he consented 70 talk about the savings Of
the American people as the matter APP
peared TO the trained observation OF an
Englishmsn.
Everyone acquainted with the progress
OF the United States" said Mr.. Paish, rs
struck by the Ignorance Of the average
European concerning the forces which have
brought this country into its existing pros
porous condition and which will continue
to cause it's prosperity to increase for an
indefinite period. Not infrequently one
reads in European journals OF the great
speculation that is going on in New York
and OF the dangers Of investing in Ameri-
can securities. Unfortunately the views put
forward by so many OF the journals OF
Europe are the opinions OF persons Of high
place and influence who have never troub-
led to make themselves acquainted with
actual conditions here.
Mistaken Opinions.
There can be no doubt that those opln-
ions are made in good faith, and that many
influential persons in Europe really rsgard
what they would term the so-called pros
perity OF America as a highly tinted soap
bubble which will speedily evaporate. 1t
may be said that these views hurt no one
but their possessors who are prevented by
their lack Of knowledge from obtaining a
participation in tho prosperity. Nevertheless
It is Of great importance that Europe
should appreciate the true causes Of Amer
lean progress and the immense rapidity
with which this country Is growing in
wealth. In trade. and in population.
The solid, permanent and amazing
progress OF the American people is due
first and foremost to the ~uHfoundsd
natural resources OF the country; second
TO the hard and efficient work done by
practically every citizen of the country,
either in producing the riches which
nature has bestowed 20 plentifully or
in manufacturing them into articles OF
consumption or In distributing them tC
consumers; third, to tho announcement
which everyone receives to give his best
work and to make suggestions for get
ting good results from the labor and cap.
ital expended; fourth-and this Is a mat.
ter OF very great Importance in the prog.
ress Of the countryside the liberal PARTED.
patton which everyone enjoys In the gen.
eral prosperity. In Europe too frequently
1t happens that the wages paid to EN-
ployes are not more than sufficient tC
keep body and soul together. Here, tn,
general principle seems to be TO pay {
rate OF wage which will enable the wag,
earners 10 secure a share both Of thG
necessities and OF the comforts OF If,
and at the same time to save consider
able sums from year to year. BY means
Of these savings the wage earnera secur,
q substantial participation In the wealth
acoruing to, capital over and above tina
which comes TO them as laborers.
a. of Wages.
Before leaving for the states 1 re
ceiVed a letter in which a correspondent
asked me to ascertain II 1t was a fac
that the wage-earners Of America wer,
really better off than the wage-earner
Of England, or whether the higher rat
Of wages here wRs not entirely neutral
tied by the higher cost OF food, clothing
and rent, Since l have been here | havl
made a great many inquiries upon thl
point, and l have come to the conclusion
that the rate OF wages in this countr.
Is much higher in proportion than Il
Great Britain, after taking into accoun
the purchasing power Of the wages, an
that after meeting all expenditures IN
wage-earners each year save a substan
tial average sum, which they place 4
tavings banks or which they use for tn
purchase OF securities, houses, land, busl
nesseses, etc.
In answer to my questions my In
formants have surprised me not only wit
the rate OF wages they are earning, bu
also with the average sums they save fror
yea 70 year. and a number OF employer
have confirmed the statements as to tn
large savings of their employees. Their
cum be no doubt that the savings Of wage
oarners reach a great sum In the aggregat
and largely contribute to swell the aggre
gate earnings OF the nation.
These facts explain many things whic
are otherwise inexplieable. When II
known that all classes. including masser
gers and other employees, are regular II
vsstors and naturally take an interest
securities, the phenomenon OF speeulatiy
purchases by the working classes Is not s
striking as Il would be IL they merely cam
into the market TO buy securities on margI
In a time OF initiation. Fortunately. n
clientele Of brokerage houses In this eoui
try extends to all sorts and conditions
men and women, and IL not confined. a
unfortunately Il Is with us, almost entlreI
TO the middle and upper classes.
savings OF the People.
1t will be realised that the savings OF
nation In which practically everyone
able 10 save reach to q vast figure. An en-
inent American banker Of International r
pute with whom l discussed the questlC
OF Americas savings during my passal
here, estimated the total savings Of Il
United States at nearly "a, 500 ,O00.OOO Isl, 5O(
Oe COO a year, Since my arrival / ha,
Fought to form an independent estimat
based upon a great variety Of data, and
have come to the conclusion that the a
nual savings OF this country are ov
eL.OOO.OOo.Oo 0~S.0o.OoOOOl. and that Il