An Inquiry into the Nature and Causes of the Wealth of NationsSmith, Adam
History
An Inquiry into the Nature and Causes of the Wealth of Nations
Smith, Adam
Economics
I shall conclude this long chapter with observing, that though anciently
it was usual to rate wages, first by general laws extending over the whole
kingdom, and afterwards by particular orders of the justices of peace in
every particular county, both these practices have now gone entirely into
disuse. “By the experience of above four hundred years,” says Doctor Burn,
“it seems time to lay aside all endeavours to bring under strict
regulations, what in its own nature seems incapable of minute limitation;
for if all persons in the same kind of work were to receive equal wages,
there would be no emulation, and no room left for industry or ingenuity.”
Particular acts of parliament, however, still attempt sometimes to
regulate wages in particular trades, and in particular places. Thus the
8th of George III. prohibits, under heavy penalties, all master tailors in
London, and five miles round it, from giving, and their workmen from
accepting, more than two shillings and sevenpence halfpenny a-day, except
in the case of a general mourning. Whenever the legislature attempts to
regulate the differences between masters and their workmen, its
counsellors are always the masters. When the regulation, therefore, is in
favour of the workmen, it is always just and equitable; but it is
sometimes otherwise when in favour of the masters. Thus the law which
obliges the masters in several different trades to pay their workmen in
money, and not in goods, is quite just and equitable. It imposes no real
hardship upon the masters. It only obliges them to pay that value in
money, which they pretended to pay, but did not always really pay, in
goods. This law is in favour of the workmen; but the 8th of George III. is
in favour of the masters. When masters combine together, in order to
reduce the wages of their workmen, they commonly enter into a private bond
or agreement, not to give more than a certain wage, under a certain
penalty. Were the workmen to enter into a contrary combination of the same
kind, not to accept of a certain wage, under a certain penalty, the law
would punish them very severely; and, if it dealt impartially, it would
treat the masters in the same manner. But the 8th of George III. enforces
by law that very regulation which masters sometimes attempt to establish
by such combinations. The complaint of the workmen, that it puts the
ablest and most industrious upon the same footing with an ordinary
workman, seems perfectly well founded.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account