The Republican. [volume] (Oakland, Md.) 1877-current, 1960-01-21

when the first flush of victory
had passed, Politics raised its
ugly head.
Political opponents of Vice Presi-
dent Nixon say that the steel
strike settlement is inflationary.
Let's look at that. Under the set
tlement, the average earnings per
year will rise less than 3.75 per
cent Now compare this with the
As per cent increase under the
settlement for the can industry,
and So per cent for the aluminium
industry. These other increases
average about 80 per cent more
than the steel settlement increase.
Mr.. Roger Blough, Chairman of
the Board of U. S. Steel, has veri-
fled the fact that the average
annual increase in hourly en-
ployment costs resulting from the
steel strike settlement will be 3.5
to 3.75 per cent This is in con-
trast to other steel settlements
during the postwar period, dur
ing which hourly employment
costs have been rising at an aver
age of per cent a year. Thus, by
the steel strike settlement, the
postwar trend has been cut in
half. The steel wage increase of
cents which goes into effect De-
cember 1860 is less than the aver
age increase. AS a matter of fact,
IS per cent of wage increases in
1859 exceed that figure. What this
means is that the steel strike set
Element is in line with others
negotiated. 1t cannot be any eX-
cuse for setting off an inflationary
wage pattern. AS matter of fact,
the average increase in hourly
earnings resulting from the steel
strike settlement-slighty under
3.75 per CENTS less than the
average increase covering all in
dustry. In other words, the steel
strike settlement tends to hold the
line on normal inflationary trends.
Newspaper reports of the steel
settlement we're misleading. There
was no 40-ccntS-per-hOur wage in
crease, as some newspapers re-
ported. There was a 7-cent-pluS in
crease for one year and another
7-cent plus increase, and there
were other miscellaneous figures
mot wages which, if added to
the two separate 7-ccnt increases,
would total 1928 cents, but this
figure is misleading. A table which
shall include below helps one
get a truer picture of the steel
strike settlement terms
The settlement eliminated the
total oscillation" clause that
hitched wages to the cost-of-liv-
ing index. Another advantage to
management-and, in turn, to the
public-had to do with the work
rules aspect. The settlement set
up a ACKNOWLEDGEMENT commit
tee headed by an impartial third
party representing the public, to
set work rules. Steel company
executives will tell you that this
is what they wanted. This will
without doubt improve work
rules to the end that there will
be more efficiency Labor and
management thus combine to in
crease the pace of productivity
gains.
My thanks-and the thanks of
millions of Amcricans-go to Sec
rotary of Labor Mitchell and to
the President of the Senate, Vice
President Nixon. for their part in
the steel strike settlement.
| would ask those who have
criticized the steel settlement:
Would you have preferred NO
settlement? What kind Of settle
mcnt would you have proposed?
The simplified table below COM
pares terms of the steel strike
settlement with terms of union
management settlements in the
can industry and the aluminium in
dustry:
Increase in Wages plus incrc-
mcnt Steel 7 plus IL plus 0.6;
Can 7 plus -, plus IL, 7 plus II;
Aluminium AS, IT'S, 1856.
Cost of Living tmaX) Steel 06;
Can 60; Aluminium 60.
Insurance Steel 1874; Can 1.50;
Aluminium 5.64.
Pensions Steel 80; Can 200;
Aluminium 1853.