﻿26 
  Transactions. 
  — 
  Miscellaneous. 
  

  

  allow 
  them, 
  witliin 
  wide 
  limits, 
  to 
  fix 
  their 
  own 
  wages, 
  only 
  requiring 
  them 
  

   in 
  return 
  to 
  conduct 
  their 
  operations 
  so 
  as 
  to 
  give 
  themselves 
  the 
  largest 
  

   profit 
  they 
  can 
  make. 
  The 
  only 
  argument 
  which 
  can 
  be 
  used 
  to 
  justify 
  

   such 
  a 
  trust 
  is, 
  that 
  in 
  striving 
  for 
  the 
  interests 
  of 
  themselves, 
  they, 
  if 
  they 
  

   use 
  thought 
  and 
  self-restraint, 
  are 
  likely 
  to 
  do 
  better 
  for 
  us 
  than 
  we 
  could 
  

   without 
  their 
  help. 
  The 
  failures 
  they 
  have 
  made 
  would 
  fairly 
  justify 
  the 
  

   community 
  in 
  trying 
  to 
  do 
  without 
  them 
  ; 
  it 
  is 
  scarcely 
  likely 
  that 
  worse 
  

   disasters 
  would 
  follow 
  than 
  the 
  Irish 
  famine, 
  or 
  the 
  long 
  years 
  of 
  hopeless 
  

   misery 
  which 
  preceded 
  it. 
  The 
  subjects 
  of 
  King 
  Tawhiao 
  or 
  Sitting 
  Bull 
  

   are 
  far 
  better 
  off 
  than 
  the 
  poorest 
  classes 
  of 
  Ireland, 
  or 
  even 
  of 
  England. 
  

  

  It 
  is 
  a 
  very 
  important 
  social 
  problem 
  to 
  ascertain 
  what 
  is 
  the 
  rate 
  of 
  

   wages 
  wliich 
  would 
  give, 
  in 
  any 
  geographical 
  area, 
  and 
  under 
  existing 
  con- 
  

   ditions, 
  the 
  largest 
  return 
  to 
  the 
  capitalists 
  (excluding 
  landlords) 
  as 
  a 
  class. 
  

   If 
  this 
  were 
  known, 
  public 
  opinion 
  among 
  them 
  would 
  probably 
  prevent 
  any- 
  

   one 
  from 
  offering 
  a 
  lower 
  rate, 
  and 
  it 
  is 
  almost 
  certain 
  that 
  the 
  labourers 
  of 
  

   all 
  the 
  older 
  countries 
  'of 
  the 
  world 
  would 
  be 
  bettered 
  in 
  circumstances 
  by 
  

   getting 
  this 
  minimum 
  instead 
  of 
  their 
  present 
  wages. 
  Notwithstanding 
  the 
  

   faUing 
  off 
  in 
  the 
  population 
  of 
  Ireland 
  since 
  the 
  famine, 
  and 
  the 
  higher 
  rate 
  

   of 
  wages 
  now 
  paid, 
  there 
  is 
  no 
  doubt 
  whatever 
  that 
  the 
  capitalist 
  class 
  gets 
  

   a 
  larger 
  return 
  than 
  they 
  used 
  to 
  when 
  the 
  rate 
  of 
  wages 
  was 
  only 
  from 
  

   fourpence 
  to 
  sixpence 
  a-day. 
  

  

  The 
  number 
  of 
  hours 
  which 
  a 
  man 
  must 
  work 
  during 
  the 
  day 
  in 
  

   order 
  that 
  the 
  produce 
  shall 
  be 
  a 
  maximum 
  is 
  also 
  unknown. 
  CapitaKsts 
  

   would 
  seem, 
  fromT 
  their 
  , 
  actions, 
  to 
  think 
  that 
  it 
  is 
  not 
  less 
  than 
  four- 
  

   teen 
  or 
  "even 
  more. 
  Some 
  information 
  may 
  be 
  gained 
  from 
  the 
  public 
  

   works 
  carried 
  out 
  ^in 
  New 
  Zealand 
  during 
  the 
  last 
  few 
  years. 
  The 
  

   average 
  rate 
  of 
  wages 
  for 
  unskilled 
  workmen 
  has 
  not 
  been 
  less 
  than 
  a 
  

   shilling 
  an 
  hour, 
  the 
  men 
  working 
  eight 
  hours. 
  In 
  England 
  the 
  rate 
  is, 
  or 
  

   at 
  least 
  was, 
  a 
  few 
  years 
  ago, 
  about 
  threepence 
  an 
  hour, 
  the 
  men 
  working 
  

   twelve 
  hours 
  ; 
  the 
  cost 
  of 
  earthwork 
  should 
  be, 
  if 
  the 
  work 
  done 
  were 
  

   proportional 
  to 
  the 
  number 
  of 
  hours 
  in 
  a 
  day's 
  work, 
  four 
  times 
  as 
  high 
  in 
  

   New 
  Zealand 
  as 
  in 
  England, 
  but 
  it 
  has 
  averaged 
  considerably 
  less 
  than 
  

   twice. 
  This 
  is 
  a 
  very 
  rough 
  test, 
  but 
  it 
  tends 
  to 
  strengthen 
  the 
  opinion 
  

   held 
  by 
  many 
  intelligent 
  employers 
  of 
  labour, 
  that 
  a 
  man 
  will 
  do 
  more 
  when 
  

   working 
  eight 
  than 
  he 
  will 
  when 
  working 
  twelve 
  hom-s 
  a-day. 
  

  

  Interest. 
  

  

  As 
  before 
  said, 
  that 
  part 
  of 
  the 
  national 
  direct 
  wealth 
  which 
  capitalists 
  

   keep 
  for 
  their 
  own 
  use 
  is 
  called 
  interest 
  ; 
  it 
  is 
  the 
  reward 
  they 
  receive 
  for 
  

   investing 
  their 
  wealth, 
  instead 
  of 
  expending 
  it. 
  

  

  As 
  new 
  men 
  are 
  continually, 
  by 
  frugality, 
  making 
  good 
  a 
  footing 
  in, 
  

  

  