The Washington herald., 1920-01-11
Financial Neus---S Stock Market Prices
WAGES HIGHER
THANH. COIL.
Holland Finds Unusual Con-
ditions in Labor
Ranks.

Amy business day there may be
seen, certainly in one and probably
In number Of the New York saw
ings banks. a thrcng Of depositors
almost every member of which Is
4 wage Garner. That Of itself has
not been in the past an unusual
incident with our savings banks.
But there are certain features that
stand out distinctively characteriz-
ing these groups. which justify the
wonder whether 1T is true that the
so-called nigh cost of living causes
the repetition of demands for in
creased wages.
Many of these depositors are
women. To a casual eye, and IL
only the garments which they wear
are observed, IL would appear that
they represent not wage earners so
much as those whose husbands or
fathers receive large salaries. Many
of them are dressed in furs of beau
tiful lustre and with every appear
ance OF having been newly bought
Their millinery Is of the latest
ntyle and ostrich feathers adorn
their hats. silks and velvets and
velyeteens are worn and also silk
hosiery.
Yet these well-dressed women are
depositors. and that they are able
to purchase garments notwithstand-
ing the present-day high cost Of
them, and at the same time reserve
from their earnings an amount sufii-
cient TO enable them to make weekly
deposits would seem to suggest the
fact that the high cost OF living
does not greatly concern them. They
are all wage earners. One of the
savings banks, the chief part of
whose deposits come from customers
OF this class have been thronged
with depositors since early fall and
during the Christmas hol-
days.
The president Of this bank said
this morning that not in his expe-
rience has there been such an in
flow OF deposits. which for the most
rat represent savings from wages,
as has occurred for the past three
months. In his opinion the savings
banks are gathering such heavy de-
posits that there soon will arise a
serious question for the management,
for the larger the deposits the great
er the difficulty in handling the sur
plus. paradoXical as that may seem.
A little inquiry has made IL clear
that Notwithstanding the abundance
OF cash which these wage earners
are receiving. nevertheless the pro-
duction in the various manufactures
or other industries where wages are
earned has been decreasing in al
most inverse ratio with the increase
in wages.
A business man who has been sue
cessful as a coal merchant entered
into a conversation a day or two ago
with a man whom he did not know,
but with whom in the cordiality of
the holiday season he made brief
acquaintance. He learned from this
man that he was one of the eXecu-
tives of u labor organization whose
work at almost menial employment
for the city, not the street cleaners.
but others employed in street paw
ing. repairing and like vocations.
This labor union leader or sub
leader confessed frankly that it was
his duty to watch these employees OF
the city and see TO IL that not one
OF them passes the minimum stand
ard of production or work. None is
allowed to do more work than the
least competent of the workmen can
do. None is allowed to work rapidly
and the reason for a policy Of this
kind is frankly stated TO be the he
lief IL work is not speeded up to its
highest capacity then more workmen
can be employed HOLLAND.