July 27. 1867. N. 1248.

The Economist, 27. Juli 1867. S. 843/844.
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Effect of Trades Unions on Prices and Wages.

Trades Unions are introduced into all trades, but more or less into all trades of skilled labour, not at all or very little into agriculture or other departments of unskilled labour. Dieß would nicht raise manufacturing produce, weil in the barter of gold  Kommentar von Marx.
(quel imbecile!)
for skillmade articles an equal force would be operating to raise sowohl den value of gold (mining being also a skilled labour) and the articles. Daher reduced the price of agricultural produce. (as gegen Gold) If labour migrated from agriculture to mining and manufactures easily and quickly, this process would be arrested, but in matter of fact it does nothing of the sort. Der agricultural labourer is like the capital sunk in the plant of a particular trade; it cannot be got out  Kommentar von Marx.
(Nonsense! dieser Vergleich)
for any gains or by any means. Much labour is cooped up in agriculture, which for its own gains and earnings had better gone to manufacturers. Aber andrerseits: Any fall in home-grown corn, or other agricultural produce very slight. It cannot be effected except by an increase of quantity  Kommentar von Marx.
(Rindvieh! Als ob ein Artikel mit the same quantity nicht in price fallen könnte relativ, weil ein andrer in price steigt!)
und dann nöthig resort to inferior soils and greater difficulties of production. The fall in the price of these articles already checked by the economy of nature. Also, upon the whole: the prices of all articles would continue unaltered. If in manufactures the rise in wages reduced profits 1 or 2%, capital would flow into agriculture as long as it could obtain a greater rate of profit. Aber even the augmenting difficulties of further production would reduce that profit. So kein Anlaß to go to agriculture. Also result: a general reduction of profits, in trades of skilled labour, becauses because wages forced up by it, and prices remain the same; in agriculture, because of resort to inferior soils. Hier supposed that money (gold etc) was produced within the country.

The Economist, 27. Juli 1867. S. 848/849.
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How to retain farm labourers?

Allgemeines Gekohl auf den Agricultural Meetings über scarcity of labourers. Sir Stafford Northcote (President of the Board of Trade) attempted to make out, on agricultural meeting in Devonshire, daß derselbe Mangel in the mercantile navy, the works and employments of the large towns und manufacturing districts. Darauf Remonstrances: The Rev. E. Girdlestone (Canon of Bristol and Vicar of Halberton, in Devon) in a letter to a newspaper, stated that there are about 60 farms in his parish, and that, with very few exceptions, the pay of the ablebodied agricultural labourers is there 8s. a week; in some cases only 7. And that a like scale of wages prevails throughout a large part of Devonshire. He added: „In many instances, deduction is made, not only for rent, but for grist at the farmers’ price, so that the labourer sometimes does not carry home more than 3s. 6d. in coin. I know 2 strong lads in one family, aged resp. 16 and 14, who receive from the farmer who employs them, the one 3s. 9d., the other 2s. 6d. a week; and the farmer, reckoning these miserable earnings of the 2 lads together with the father’s wages, stated in a public paper that he gave his labourer 14s. a week.“ Another Vicar in Hampshire says: „The wages received by an able-bodied labourer when engaged in |156 ordinary work is 9s. a week. Out of this they have to pay one s. a week for houserent. … There is no ale, cider, or any other emolument given.“ Well, does any one wonder that rural labourers get away from Devonshire and Hampshire the first available opportunity? … How are the farm wages of such districts to be increased? To some extent by the depletion of the market. But this process, especially in backwards backward regions of the West of England, must be a slow one. … If most of the estates in England were judiciously managed, some of the present tenants must, perhaps, either give up their farms, or give up some portion of their land.

The Economist, 27. Juli 1867. S. 849.
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Strike of Agricultural Labourers.

Strike in Buckinghamshire; village of Gawcott, near Buckingham; demanded advance of 2s., namely from 10 to 12s., with an additional sh. for Sundaywork, which would be necessarily the case with shepherds, horsekeepers, cowmen, and the like. Appeals have been made to the public und subscriptions have, indeed, aided them. Some of the Gawcott farmers have yielded. The same demand is being raised in other parishes in the neighbourhood. Rural labour has been scarce for several years past, while at this particular time the prices of all kinds of provisions, besonders bread and potatoes, very much higher than for some years. Discomfort of insufficient cottages, long distances between the places of work and the abode abodes of many of them. The agricultural labourer has no other mode of righting himself than by combining with his fellows to demand better wages. Farmers are not to be expected to give more than they are compelled to do by the rates current in the labour market; and meeting, as they do, at their vestries, and in fairs and markets, they can and do practically combine together to keep wages down to the lowest possible point. Until very recently, that point was very little beyond the merest maintenance for a human family.

The movement of the labourers in some of the worst paid of our agricultural districts for an advance of wages must be regarded as a part of the great movement in English agriculture which is imminent.

3) Banking and Currency.

  • Suspension of the Bankact (57) French Opinion on it (l.c.) Its practical effect (62) New facts relating to it (84). Guthrie etc on Bankact (68) Proposed Inquiry (87)
  • Bank of E. and its Bankers Accounts (173, 174, 176) Its Reserve (95, 96) Acceptances and Deposits (117)
  • Clearing House (122, 131, 132, 133)
  • Billbrokers (1857), Bankers (1866.) [(100)]
  • Rediscounting (131)
  • Memorial of Liverpool Merchants (Anfang 1866) (p. 7, 8)
  • Banking Question (18) Gvt. Notes (117) Mulholland (167, 168.) State and Currency (170, 171)


  • London. 1868.
  • 1866 „The Economist“ (Jahrgang 1866) vol. XXIV.
  • The Social Economist, 1. Oktober 1868
  • „The Economist“ (Jahrgang 1866) (Fortsetzung)
  • Jahrgang 1867.
  • Register der obigen Auszüge aus dem Economist für 1866 und 1867.
  • The „Money Market Review“. Jahrgang 1866.
  • The Money Market Review. Jahrgang 1867.
  • Register Money Market Review Jahrgänge 1866 und 1867