THE ECONOMIC OUTLOOK.

Press, Volume LXVI, Issue 19928, 15 May 1930, Page 13

THE ECONOMIC OUTLOOK.

a r TCLXBE HDITOB- C* ; -THE PBES3. , Sir, —Your correspondent "Senex" 0 takes his' stand in favour of the Arbi- ? tration system, mainly on ethical 4 grounds. Froih his' pdint of . view, any. B system which will tend to preserve-, t peace between employer, and employee,' 1 or avert the risk of open* is ■ to be .commended. And thero is sound [ reason in that view;' Arbitration may , Ire effcetvo. in preserving peace if both.; r ■■ parties are sweetly?reasonable ahd-pre- " -pared to gl-vc nnd our nrbi-.. tration- system hits gone.Tfaj . past ,that-.i ' "stage. It has- become a -hard ,and -fast: system fbr tho regulation of. industry | every 1 detail. . • , And it has been driven to ; this by, continuous; persistent at'-tacks by ono party lipoii the other. Under, such circumstances ethics have little consideration. They, are involved, nevertheless, i Is" it ethical iq forbid ,a ejnployme#t unless he puts t himself uncter, tlie.. control of a Trade Un,ipn I' ;I think not. Would- "Senexagree that, -an honest - working man should be refused employ-, orient unless he- joined a . particular ohiirch? ; I -think he would; say. that - every man has a fight to please himself as to whether he shall be a, churchman or an' athe'isty .a freeman or a-trade unionist But our industrial- system denies him'that right. .■ - I d 6 not pose; as an authority on. . economics. Adam Smith was . before riiy - time, and I am not: familiar with ' Karl Marx. . But there .are either, econ-* omists of. note, such as Sir Wm. Beyeridge and Prof, Henry Clay, who condemn tho fixation of wage, rates. And Sidnoy Webb,-a -sWong Labour -mah, now" Lord Passfield, will consent .-to a - standard minimum wage only to prevent, ictual sweating, then, he-sajs that any rise on such -tfago'must be ..compensated by'increased efficiency,, or. it will throw men. out ofemployment.. The: opinions-• of these? gentlemen are '- ' surely entitled to consideration. But we ignoro them, and seem to-think that 'wairea -can be raise,d or: working: hours shortened indefinitely.-Within: the last . the • Arbitration has" wages-are the;:dominant element in the production, - +W everv'cent added to wages in,, and that every ' o . asit'depoßda, & S helps tomC^ e J} n r Sd°cS oia 0 ia wages" would have An a onnosite -results, and would . th« .K;"*]. etc., AIJDAX. "| jiajr 14th,1930f - ' - ■■■ .i~ -r