Cost and Productiveness of Labour.
The United States Commissioner of L»bor is preparing to transmit to Congress hia first report on the cost of production. The Commissioner has been engaged on the report for several months, and has obtained some very interesting and valuable material. The purpose is to ascertain all the elements that enter the cost of production of a manufactured article, and Congress extended the inquiry to foreign countries m order to obtain facts bearing the tariff question. The Commissioner's report will embody data that have never been presented m any official report m any country. It will undertake to give with precision not only the elements of cost m the production of an article, but the efficency of labor m different countries and m different lines of industry, and the relations between efficiency, wages, and manner of living- The labor will be reduced to the hour basis, and ,it will be possible to determine, by an examination of the tables, the precise relations between wages m the Europen countries and the United States, and the relation between the work performed m each
country for those wages. The coat of management, the cost of repairs, them-1 terest on invested capital, will all be set' forth with a fulness which will admit; of the most searching comparisons. Where a product is composed of more Lhan one material, each of the raw materials will be followed to its source and the cost of producing it set forth. The report on iron and steel will be sent to Congress' within a few weeks, and those on cotton and wool will follow soon after. The other reports upon which the Commissioner is to work are on glass, linen, silk, and lumber. These facts will be of use from a theoretical standpoint and m tariff" and industrial discussions. They are so full and precise that they are likely to have a still further use for the practical business man. By comparing the statements for different establishments he can learn what others m his line of business are spending for the different elements that enter into their products, and can correct his own methods by the study of those of others. The hours of labor, the wages paid, the cost of raw material, the cost of subsidiary materials, the cost of management, will all be set forth and can be studied by the intelligent business man. !
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Cost and Productiveness of Labour., Ashburton Guardian, Volume VII, Issue 2487, 9 August 1890
Cost and Productiveness of Labour. Ashburton Guardian, Volume VII, Issue 2487, 9 August 1890
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