In connection with this subject Mr. Burt, on Monday, made
a sensible speech at Bedlington, Northumberland. He was in favour, he said, of Mr. Mundella's Bill for Arbitration. He did not believe the arbitrators appointed under that Bill would be able to stop a terrible dispute such as was now raging in the Midlands ; but he did believe they would ascer- tain the exact facts, and that would be a gain. That is mode- rate enough, and does credit to Mr. Burt as a reasoner ; but is he not inclined to exaggerate the effect in industrial con- tests of accurate knowledge ? Suppose it clear that with an average wage of 21 a week, a coal-owner can make 5 per cent, for his money, how does that ensure that a miner will take £1 a week, or that an owner will put up with 5 per cent. on a risky outlay of capital? A shopkeeper seeks 15 per cent. at least, and has fewer risks than the coal-master, both from strikes and from excessive competition. Great contracts for selling coal are often taken under the stimulus of competition at prices which leave no profit at all, and only help to "keep the pits going."
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