The engineering unions, with about a million members, took a
ballot last week on the employers' proposals to reduce wages. Only a third of the men voted ; 257,532 were against the offer, and 125,014 in favour of it. The union leaders, after announcing the result on Wednesday, did not fold their hands and declare that a strike was inevitable. On the contrary, they renewed negotiations with the federated employers. As we write on Thursday morning, it is announced that the two sides have come to an agreement. Wages, it is said, are to be reduced by 68. a week in two stages, but the proposed abolition of the war bonus of 12i per cent, is to be deferred till the autumn, if not longer. The engineering unions are well led and recognize the seriousness of the foreign competition, assisted by low exchanges, which the employers have to face.
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