The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1937-04-07
LABOR Hours
BUYING VALUE
INHICHLEVELS
Will Obtain More in Goods
Than at Any Time in
u. S., Is Said


CHICAGO, April American
factory wages, in terms of buy
ing power. are higher today than
ever before in history. according
To- o statement issued today by
John ". O'Lcary. president Of
the Machinery Institute. in con-
ncction with the publication OF an
institute pamphlet Technology
and the American Consumer
The average factory worker to-
day is Is per cent bette" off than
he was in 1929 and about Is per
cent better off than in 1914. ac-
cording to wage and cost of living
indexes compiled by the national
industrial conference board, Mr..
OLcHry said Real weekly wages
i'm 1897 have been above ll3 per
cent of the 1928 average, whereas
i'm 1929 they were 1912 and in
1911 they were us.
In addition to reporting the re-
lation OF factory wages to gem
cral living costs the pamphlet
shows that prices ot 20 widely
used machinc-madc products
measured in buying power of fac
tory wages are G3 per cent lower
today than in 1914. Technology
and the American Consumer Is
the fourth pamphlet Of series
based on study of the relation
of industrial mcchanization TO
the American standard Of living.
Such items as clothing, house
furnishings. automobiles and drug
and toilet articles were studied by
the institute. Ten Of the 20 ma
chine-madc items showed lower
dollar costs today than in 1919
despite a q per cent increase in
the general price level. The num-
Der of hours required to earn
enough at average factory wages
10 buy the various products is in
all cases lower today than in 1914
the declines varying from % to
50 per cent.
The institute stated that the
purchasing power of the consum-
crS' income offers n truer indica-
ton of participation in the bene-
fits Of chronological development
than do either prices or wages
alone. by citing figures from the
national industrial conference
board il showed that while the
cost Of living was 40 per cent
higher in 1886 tina min 1914, the
hourly wages of the average fac
tory worker were two and one
half times as high, and weekly
wages were almost twice as high
as in 1914. Hourly wages rose
from 24.T cents To GA cents in
the 22-ycar period studied, and
weekly wages rose from about
$3.50 To about $500.
Clothing for a family of four
which in 1914 cost the earnings OF
700 hours can be purchased today
with the earnings from Bay
hours" according 10 the pamph-
let. ''Thc price increased from
SITS TO $2lS but this was far
more than offset by the increase
i'm earnings.
"The average mans felt hat.
which cost $2.S5 in 1914 can be
bought today for $2.l5, and al
though il required the earnings OF
II l-2 hours in 1914 it can be
purchased with the earnings from
3 l-2 hours today.
"Thc time TO earn the average
pair OF work shoes has dropped
from 9 hours and Is minutes in
1914 10 three hours and "a min
utcS today, and the price has
dropped from $3.50 per pair to
$2.lO.
ITO purchase 100 representa-
tive articles of house furnishings
il required the earnings of about
iO5 hours. and today only 2T9.
"Thrcc-picce bedroom suites,
which in 1914 consisted of bed.
dresser and waShStand, cost the
earnings Of l04.3 hours, and B.
piece suites consisting of bed.
vanity or dresser, and chest of
drawers. all OF superior quality.
can be purchased today with the
earnings OF T7.S hours.
"A 9xl2 Administer rug can be
purchased today with the earn
ings Of 80 hours of work at the
average factory wage, whereas
the rug Of the same size and in
fcrior quality in 1914 cost all a
factory worker could earn in 50
hours.
"Thc price Of baby carriages,