On Tuesday morning the Prime Minister met the miners' delegates
and declared once again that the Government could not agree to " a national pool of profits." It would involve State control, and it would deprive all concerned of any incentive to increase the output of coal. The price of coal would therefore rise, damaging our coal export trade and injuring all other industries by raising the cost of production. On the other hand, the Government suggested " a national settlement of wages." In each district a standard wage should be the first charge on the proceeds of the industry. " The principle on which this standard wage shall be fixed for each district shall be determined nationally," as well as the method of adjusting wages in excess of the standard, and the relation of profits to wages. The Government would help, " either by loan or otherwise, during a short period," to " mitigate the rapid reduction in wages in the districts most severely affected."
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