The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-11-07
For the Good of
the Community


one of the coal mines in the Birming-
ham district applied at local brokerage
office for one of the British government
bonds that are now being offered to in
vestors of this country through the bank
ing house Of j. P. Morgan & Co. of New
York and by that bank through other fl
nancial and brokerage concerns through
out the country
The bonds bear interest at the rate of
81 per cent. The applicant stated that he
had $4,000 to invest and wanted to put it
in British bonds. He paid cash for the
bond.
After closing the transaction the
broker, having ascertained that the pur-
chaser was employed at a coal mine, in
terrogated him as to his earnings and his
savings.
The bond purchaser answered the
questions without hesitation and volun-
teered other information not called for in
the question. He stated that he had been
working at the mine for some time and
that out of his earnings he had not only
supplied the needs of himself and family
but had been able to save up considera-
BILE sum which he wanted to invest in good
securities.
This man, as it developed, does not
earn any more than hundreds of other
miners and mine workers in the Birming-
ham district, but he saves and watches his
chance for profitable investments.
The fact that men working at the coal
mines are able to save up as much as this
man did in the two or three years of high
wages goes far to refute the claim that
miners and mine workers and their fam
lilies are suffering for the necessities of
life on account Of poor wages and poor
living conditions.
The statement of earnings of employees
of the Alabama Fuel and Iron company,
given out by Charles DeBardeleben two
or three days ago, showing that large
per cent of the men working in and about
the mines of that company are receiving
over 5000 a month in wages, would indi-
cate that if the men and their families are
unable to buy the things needed to sus-
tain life and make them comfortable it is
not because they do not earn the money,
but is due to some other cause.
Labor in the Birmingham district is
paid higher wages now than ever in the
history of the district Wages have adj
vanced as much or more than have the
necessities of life.
The salaried man and the man with a
fixed income from investments or other
wise have been and are the sufferers from
the high cost of things. Their salaries or
their incomes have remained practically
where they were before the war. Some
salaries may be larger, but they have not
increased in anything like the proportion
that wages and the cost Of necessities
have gone up.
They must get along as best they can on
their incomes. They must meet the ad-
vanced rentals exacted by landlords, In
many instances as much as 100 per cent;
the increased cost of clothes, of food, and
everything they are compelled to buy.
The example set by the purchaser of
the $4,000 British bond is one that might
be followed with profit by other laborers
during these times Of high COSTS If so,
hundreds of laborers in Birmingham and
the Birmingham district would be indie
pendent before wages again find the low
levels of pre-war days, if they ever do
that.
One operator stated day or two ago
that several of his employees came to the