HIGH SALARIES.

Dominion, Volume 4, Issue 1076, 15 March 1911, Page 8

HIGH SALARIES.

'— 4 ; WHEN A MAN IS WORTH OVER .£IO,OOO. ■ What is tlie limit of any one man's worth in salary? Is it .£SOOO, .£IO,OOO, or ,£20,000? These arc questions which arise out of the action of the United States Steel "Trust" in reducing the salarv of the president from ,£20,000 to .£IO,OOO.

Interesting opinions were given by two London city men, each a meralxir of the governing circle of a huge financial concern with far-reaching industrial connections.

"There is a good deal of difference between our own and American methods," said one, "but, speaking generally, I do not think .£IO,OOO, or oven .£20,000 is the limit which might justly be put upon the services ..of an organiser and controller who has to direct the operations and secure the profits in a business where probably millions of capital are involved. But each case must be judged on its merits because the ability and the fore--sight demanded vary very much in different circumstances." . . ' •

The other city magnate took a rather different view. "In present conditions I think .£SOOO or £0000 a year is a reasonable limit to a man's earnings in the shape of salary, because when his skill and efforts become worth moro than that they should bo remunerated, "as in practice they so often are, by a percentage in sonic way or another in the profits of the business. The man who is worth a salary of ,£IO,OOO a year is a man who for the sake of the business should bo one of the proprietors of it." The "Daily Mail" remarks that investigations show that in England salaries of .£IO,OOO are very few, notwithstanding many enormous business enterprises. Large salaries are, however, becoming mire numerous. The income-tax report last vear shows that the number of omplovc'es with salaries over £5000 was 202, compared with 109 in the previous year. The total income of these 202 persons was £1,G5L000, or an average of over / each, but tho return does not give further details. The salaries of some of our great shipping organisers range between £5000 and .£IO,OOO. Last year the shareholders of Messrs. Victors. 'Sons, and Maxim agreed to pay a pension of .£OOOO for life to Colonel T. E. Vickers, who was resigning the position of managing director. Nine Cabinet Ministers receive £5000 a vear, but some Ministers receive more. The salarv of tho Lord Chancellor is £10,000, the Attorney-General has £7000 a year, and the Solicitor-General £6000, and both receive fees which largely augment these amounts. The engineer of the Metropolitan Water Board receives. £2500, and tho clerk of the London County Council £2000.