PROFITS AND WAGES

Dominion, Volume 12, Issue 50, 23 November 1918, Page 7

PROFITS AND WAGES

Sir Hugh BelJ, the well-known Cleve- j land ironmaster, in an address at the I Welfare Conference at Oxford i said the total output of the country ; must suffice for all our wants, provide j for tho increase of' population, and, if ' wo were to mako progress, leave a j surplus. ■• • J Referring to tho iron and steel indus- ; try, lie pointed out that, beginning as i he did with the raw material, he was' j able to make a complete analysis of the j whole division of profits, with the re- ! suit that wages formed 70 per cent. o£ ! the whole, salaries 5 per cent., and the : rnmnining 25 per cent, served to pay nil i other outgoings and to provide his profit, j which at the most did no); exceed 10 per j cent. Of this not more than half was j available for his own use. From tho remaining half of tho employer's share j any improvement in the works and plant i had to bo provided. J It was essential to obtain improve- '• mimt in the staiidaru uf living of the i workpeople, but this could be best i accomplished, not by the reapportion- | ment of tho product of industry, biit by ! tiio enhancement of its amount. The : earnest co-operation of both, employers i and employed was needed to solve the j industrial problem in the period of re- | construction upon which they were entering. ' Mr. J. Mallon (mjeinber of the i Whitley said a, crienta- j tioii of industry was required, in which, i the employer would find hie proper work ; in the role of industrial engineer. It : was essential that tho workmen should • be able, as at present admittedly they ; worn not, to take part in he control of ; industry, and from this point of view ; the Wiiitley Councils , offered the men > in the great trade unions an invaluable ; school of training and experience. '.