The trade unions in the shipbuilding industry, being faced with
very serious depression owing to lack of orders for new ships at the high prices now ruling, accepted the employers' proposal to reduce wages by 15 per cent. in two instalments. They then took a ballot of their members on the question. The result, declared on Monday, showed that 45,109 members accepted the reduction of wages, as an alternative to unem- ployment, while 35,913 members opposed it. Wages will therefore be reduced, and the industry will thus be able to compete again with foreign shipbuilders. Had the miners' leaders shown as much good sense and moderation as the leaders of the shipbuilders' unions, there would have been no miners' strike. The shipbuilders did not demand a Government subsidy to maintain their wages at the present high level, nor did they ask for the " nationalization " of the shipyards. Being wise men, they faced the hard economic facts and agreed, in the interests of the industry by which they live, to take lower wages until better times come round again.
