The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1910-10-20
Increased Exchange Value Of Ameri-

can Labor.
American Economist: II al the
discussion OF prices and the tariff
we hare not seen better or more
logical presentment of the real truth
OF the mater than in the following:
Editor American Economist: The
one thing complained OF most is the
high price of meat The complainers
are fond OF comparing prices Of form
er years with those Of the present
In 1860 meat Tas ten cents per
pound
In 1850 meat was fifteen cents per
pound
In 1880 meat was twenty cents per
pound.
In 1910 meat was twenty-five cents
per pound
The money price Of an article is not
always to be taken as the sole guide.
Let US consider what days work OF
mechanic would buy.
He. in 1850 received 81 for ten
hours work
He. in 1850. received 81 for ten
hours work
He, in 1890, received $3.50 for ten
hours work
He, in 1910. received 1850 for eight
hours work.
In 1890 he could buy ten pounds OF
meat for one days work.
In 1880 he could buy ten pounds OF
meat Tor one days work and have
fifty cents left over
In 1890 likewise.
In 1910 he could buy ten pounds for
$3.50 and have s110 left over.
In addition, instead OF working ten
hours as he had TO in 1860, 1880 and
1890. now he works bur nine, and IN
most cases only eight hours-
II, before complaining, one would
only remember how his father lived
and hoE he was denied the comforts
of today, there would be no complaint.
Ezra C. Williams.
Orange. n. J., October Z, 1910.
What is true of the wage-earner Is
true OF the farmer. Even though
I what he has to buy cogts more, the
/ thing he has TO sell whether it be his
+ labor or his farm product, VIII e1-
change for larger quantity OF the
2 things he needs than ever before
/ Through q protective tariff, which
Z limits the competition OF articles
made BIZ lower priced labor in foreign
countries. the wage-earner fs assured
OF gteady employment at hign wages
/ whereby his labor purchases for MIN
and his family the higher priced nee
esgaries and come share in me luz
uries.
And the waze-earner has something
left over after paying the high prices
az is shown by the si,o0o,ogo,oeo o.
deposits in American savings banks
In free trade Great Britain the wage
earners have had to stop eating nam
and bacon. They cannot pay the IN
creased prices. Lpton's nimhedl
oue Of the largest Of British whole
sale grocery houses. reported at III
last annual meeting that itg sales Of
ham and bacon mad fallen Off 2.0W
tons because Of poverty among wage
earnera. But the protected wage
earnerg Of the United States have no
stopped buying and eating hams anf
bacon. Their wages will buy more
than ever before. az is shown oy tn'
figures giYen above BIZ Mr. Williams
Referring again 10 savings deposita
ne can attention 10 recent article
in the F'ortnfghtly Review, settini
forth the remarkable fact that in Ney
YORK gtate. with . population Of 8
000. 900. the savings deposits are larg
er in amount than In free trade Grea
Britain, with a. population OF 1900
o0o. In England the savings deposit
, are dwindling Because Of unemploy
ment and low wages. In the Unite
. states the savings deposits are stead
Iy Increasing, both in gross and y
{ per capita average, because OF pientl
. ful employment and high wages.
Yet the voters Of this country ar