THE DECREASE IN THE PURCHASING POWER OF THE POUND.
[To Trot EDITOR OF THE "SPECTATOR."] Snr,—The miners' wages have decreased by £112,166 since 1900, according to a correspondent in the Times. These wages are regulated by the Conciliation Boards on the basis of the selling value of coal. There were 561,722 miners voted on the recent ballot, and if we take the loss in wages weekly to the miners at 2s. 6d. we shall not overstep the case. The selling value of the sovereign has depreciated since 1806 by 4s.—figures which at least find reflection in the household. On these figures I have worked out an example of Mr. Jones, miner :— s. d.
Miners' minimum, 1900... 1 10 0 Decrease in wages for which selling value of coal is responsible, 1910 ...
3 9
Decrease in value of wages for which depre-
ciation of sovereign is responsible ...
6 3
•
£1 1 0 I am not a miner, but have felt as keenly as he the deprecia- tion of the selling value of my weekly wage. With my poor knowledge I work that out as the greater percentage of the two causes illustrated by the miner's wage, and as a workman I want to apportion the blame, Is it possible to fix a mini- mum on such a fluctuating value as the sovereign? Is not the wisest possible course to pursue to set about at once and decrease that " greater percentage" which has brought the
miner's £1 108. to £1 ls. 1)-1 am, Sir, &c., " ] ORKMAN."
Previous page
