Grundriss zum Studium der politischen Oekonomie: Nationalökonomie

The new industrial revolution and wages

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Multivolume work

Identifikator:: 1847028748

Document type:: Multivolume work

Author:: Conrad, Johannes http://d-nb.info/gnd/118521853

Title:: Grundriss zum Studium der politischen Oekonomie

Place of publication:: Jena

Publisher:: Fischer

Year of publication:: 1896-

Collection:: Economics Books

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Volume

Identifikator:: 1886436398

URN:: urn:nbn:de:zbw-retromon-235143

Document type:: Volume

Author:: Conrad, Johannes http://d-nb.info/gnd/118521853

Title:: Nationalökonomie

Volume count:: Teil 1

Place of publication:: Jena

Publisher:: Fischer

Year of publication:: 1902

Scope:: XVI, 389 S.

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Multivolume work

Structure type:: Chapter

Title:: Abschnitt I. Die Lehre von der Produktion

Collection:: Economics Books

70 INDUSTRIAL REVOLUTION AND WAGES mass of employees were not sufficient to maintain a proper standard of living for their families, to reduce rates of pay would be violative of the fundamental meaning of the law, whatever the conditions might be. The Transporta- tion Act, it was claimed, contemplated a “living wage” for employees as an irreducible minimum. SENATOR CUMMINS’ INTERPRETATION OF THE TRANSPORTATION Act IN 1922 Upon the refusal of the Railroad Labor Board to rule upon this interpretation of the term “just and reasonable wage” for all classes of low-paid employees, the contention was carried by the unions in 1922 to the Senate Committee on Interstate Commerce, which had had legislative charge of the passage of the Transportation Act in 1920. During the course of the hearing, on April 17, 1922, Senator Albert B. Cummins, chairman of the committee and one of the authors of the Transportation Act, in commenting on its labor provisions, upheld the contention of the rail- road workers. During the course of the hearing, the fol- lowing significant colloquy occurred: Senator LaFollette: “In applying the rule of ‘just and reasonable’ in wages, as laid down in the Transportation Act, Congress adopted the same phraseology as it did in dealing with rates.” Mr. Lauck: “Yes, Sir.” Senator LaFollette: “And commodities.” Mr. Lauck: “Yes, Sir.” Senator LaFollette: “And omits all regard to the human element.” Mr. Lauck: “Yes; there are absolutely no human stand- ards set forth specifically. I think really the intent of Congress”— The Chairman (Senator Cummins), interposing: “I think the words ‘Just and reasonable’ do embrace that.”

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