The Press. MONDAY, FEBRUARY 20, 1882

Press, Volume XXXVII, Issue 5137, 20 February 1882, Page 2

The Press. MONDAY, FEBRUARY 20, 1882

The reports that reach na from various quarters of an expected scarcity of labor where large works are ia progress, are satisfactory as indicating a general revival of prosperity throughout the country. They show, in fact, that the tarn of the tide has fairly set in, and that capital and labor are once more assuming those relations to one another .which are essential to the well-being of the community. Hitherto, for some time past there has been a vast amount of capital awaiting investment, and at the same time there has been a good deal of labor seeking employment. By degrees, the two have come together, and it may be regarded as a gratifying sign that the snpply of labor appears likely to be disposed of before the supply of capital is diminished. With money as fcheap as it is at present, there ought not ■to be an idle man in the country, and ■there is little doubt that as confidence becomes gradually established there will be ample and steady employment for aIL Capitalists are beginning to find out that it answers better to get fire per cent.. for their money than to let it lie on deposit without interest for months or years, in the vain hope of getting ten. Hence enterprises are being undertaken as investments which formerly would not have met with favor, and improvemeate are being executed which formerly wonld have been ruinous t© touch. This satisfactory state of affaire has borne about, and is etill coming about, slowly; bat it is none the less satisfactory on that account, but on the contrary, is all the more likely to be lasting. It will grow day by day*, and all .in good time will establish a condition of vigorous prosperity, baaed on the eolid foundation of genuine productiveness.

It must not be left oat of sight, however, that there are two elements which go to make up such a state of things as this. Not only mast money be cheap, bat moneys worth mast be at a reasonable price also. A reasonable rate of wages is as necessary to eoundprosperity ai a moderate rate of interest. The two in fact oaghfc to go side by Side. If they do not, then we shall not see the highly desirable results we have described, except to a limited extent. The labor market in this country is naturally contracted, and if that circumstance is taken advantage of to unduly raise the rate of wages, then capitalists will shrink from investing, and the country will be debarred from making the most of its returning prosperity. We do not wish it to be understood that we desire to see any redaction of the rate of wages below that which will enable the recipient and his family to live in comfort, and save into the bargain. Nor do we deny the right of the receiver of wages to get the best remuneration he can for his services. For oar own part we should like to see things so brisk that any Dumber of laborers would at once get employment at a pound a day for that matter; because that would mean large profits all round, and a vast extension of the general wealth. But no such position of affairs exists at present, and it is no use to pretend that it does. What we wish to deprecate is an attempt to force the rate of wages up beyond the point where it will pay capitalists to invest. We already observe a tendency in that direction, and we are sorry for it, because we know very well what it means. If it is carried too far, it will simply have the effect of checking the industrial progress of the country, and throwing numbers of people out of work who would otherwise be earning money for themselves and their employers. Our own belief is, however, that the labor market in this country is not nearly co bare as might at first sight be supposed. This is the busiest season of the year, and, though the introduction of \ machinery has made the farmers comparatively independent of labor, yet undoubtedly the ingathering and exportation of the harvest occupies a great many hands, and withdraws them for the time being from other pursuits. Then it is well known that large bodies of laboring men who really belong to New Zealand are engaged just now upon the public works in progress in New South Wales. They went to New Sonth Wales, not because they like it better than New Zealand, bat because their employment took them there. It by no means follows that they have any intention of remaining there, or that they will not be glad to return to New Zealand on the first favorable opportunity. We see it stated, indeed, that several large contractors in this colony are already sending to Sydney for hands, and in all probability we shall see a large influx of labor from that quarter. Wβ believe it is quite true that the regular rate of wages in New South Wales is lower than that i in New Zealand, and also that the hours of labor are longer. In fact, New South Wales more nearly resembles an Euro pean country in that respect, with the enormous difference, of coarse, that the necessaries of life are much cheaper there, the climate altogether void of severity, and the general condition of the laborer in every way superior. Bat these advantages are found equally in New Zealand. The working man, therefore, is actually better off here than in New South Wales, and when he haa the additional inducement of having his friends •nd perhaps his family and his home nere, it follows naturally that he ehomld prefer to live here. If* aever regarded

the migration of labor from New Zealand to New South Wales as anything but a ] temporary shifting of quarters; and we are not at all surprised to hear of the wanderers returning. The immigration that is going on from Great Britain to Sydney must before long supply the labor market there, and then it will immediately overflow to New Zealand. It is very much better for us that we should get back our own people, experienced settlers, attached to the colony, than that we should get fresh arrivals from Home. By all means let New South Wales enlist the raw recruits for her own service, and return to us the veterans who went to her assistance in her hour of need. Thus there will be no undue acarcity of labor in either colony, but each will draw upon the other as occasion may require. If there had been a freer interchange of labor among the colonies long ago, there would hare been neither scarcity of labor nor unemployed.