The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1922-12-14
THE SAVING WAGE.

Secretary OF Labor DAVIS SAID re-
centlyr Il am opposed with all my
heart and soul To the so-called living
wage" Just enough to sustain life. he
pointed out, is not an American stan
dard of living. He favored a wage
which should leave on Saturday night
lsomething to put in the savings bank
He will be gratifhed to learn, says the
New York Times, that such a wage is
lalready paid to those VINO have the
will to save.
/ OF course, the secretary could not
have meant by saving wage one that
could not be spent by those with n will
to spend rather than to save. The
proof that millions OF Americans are
. now receiving a saving wage is too
I voluminous to be printed entire. But
some convincing items may be put to-
/ gether-
In Cleveland the Locomotive Engi-
neers' Cooperative bank was started
in 1920 with a capital OF $65O,OOO;
row it has s17.O0O.OOO deposits. One
starts in New York this month with
/ 100000 capital. to act as the CEN
| trail bank of the chain Such banks
prove a saving wage only for union
lists. More convincing is the report of
the controller of the currency that
the savings departments OF the ma
tionaI banks carry. $s,O46. O54. 900 saw
ings accounts, owned by s.s73.327 de-
positors. These are all high records.
the years increase being 764.sO5 de-
positors and SIS, 900 deposits.
The 20,00O,Oo0 of investors in war
bonds also may not be entirely con-
vincing to those who would rather at
| tack the existing wage system than
admit the payment OF a saving wage
The war bond investors We're patriots
rather than financiers or wage earn
ers exclusively.
The New York savings banks re-
port that their depositors have $13.-
4S6, $50 in their Christmas club funds
For New York state the figures are
$17,OOO.0OO. For the nation the total
is $19O,0OO.O00. an increase Oh $SO.-
100000 The Times. discussing these
figures. says:
These substantial figures. when
wages are not at their peak, show. that
a saving wage depends more on the
saver than on the wage. The savings
were not the largest in the best
wage year. Then IL was the fashion to
wear silk shirts in the cotton fields
and to buy music machines and fancy
shoes to incredible totals The reform
of those habits of waste brought trou-
BILE to the capitalists and modest
wealth to the wage earners. along with
establishment of habits of thrift. 1t
was in the harder times that the saw
ings accounts reached the amazing to-
tai for the nation of 26,637,s31. or
trifle more than one account for each
family. and a total of SIG, 61S. $685. 600.
The list is not complete, and there re-
main to be added the funds of those
who put their savings into their
homes. Home owners of the UnIted
States number 100000 among 25,-
OOO, 900 families. The majority of
American homes are not mortgaged,
and the majority of Americans live in
homes belonging in some degree to the
families residing in them
The saving wage proposition IN
wolves not only all the difficulties of
determining a universal and uniform
living wage" but also the task OF fix
ing a level to permit an accumulation
above the cost of maintenance. How
could this be done? Here are two
families OF the same size; the wage
earners in the same occupation; living
in the same community. with equal
incomes. Yet at the end of the year
one has a surplus. the other faces a
deficit. Which is to furnish the index
of savings" wage?
1t may not be a question of frugal
ity on the one hand and extravaganza
on the other. but of varying standards
of living. The family that ends the
year with money in the bank has
clearly saved. But it does not follow
that the greater expenditures of the
other represent waste. If money has
been invested in a piano, or modern
plumbing. or a college education for
one of the children, instead of being
put in savings bank, is the striving
for better living conditions and Gull
tural Improvement to be condemned
as prodigality? No arbitrary rule will
work.
This does not mean that attainment
OF a Living wage" or a Savings |
wage" is not a legitimate aspiration |
for every worker. should not be the |
aim of Every employer. should not
have the endorsement of society. Ev-
cry right-thinking person stands for
the ideal. But it is not economically /
safe or practicable to attempt to es-
tabl.sh a standard by legislative de-
cree. 4