movement secured the same wage scale for a day of fewer hours (a higher wage per hour), they would be unable to hold it excepting where they had monopolistic control of the trade. In a period of rising prices due to an increasing supply of gold, the readjustment of wages (per hour) away from an artificially high level down to a competitive rate goes steadily on. Even when money wages remain the same their purchasing power declines at such times, and this serves soon to bring the high money wages into accord with the lower value of the services.[4] § 3. #Fewer hours and greater efficiency.# Quite contrary to the foregoing view is the claim that in the shorter day the rate of work is so increased that the output is at least as large as in the longer day, or even larger. A faster working pace is possible with a shorter day, particularly in those operations calling for physical or mental dexterity. This view is less attractive to the workers than the preceding one, but is more acceptable to the employers and to the public. The change undoubtedly has resulted in many cases in the manner indicated, and could be made to result so in many other cases by applying the methods of scientific management. But it is a change which cannot be repeated indefinitely and under all conditions with like favorable results. Whether in any particular case it can be, depends in part on the length of the working day at the start. Such an increase in output might occur in a change from exhausting hours, as from 12 to 10, and again from 10 to 9, and yet not be possible in a change from 9 to 8. Moreover, the speeding up of the workers beyond a certain point may have had physiological effects outweighing the benefit from shorter hours. It is now said that with the increase of automatic machinery there are more and more workmen who much of the time have merely to watch the machine-tool run, and occasionally adjust the material. There has, however, been collected a notable body of evidence to show that, in many industries and in different establishments using much machinery, a reduction of hours to a number as few as eight has been followed by the increase of the output per worker, or by improvement in the quality of work, or by improvement in the management, resulting in a reduction of the cost of production. This is often sufficient, or more than sufficient, to compensate for the shorter time. Wages have remained as high as, or higher than, before, and employment has been more regular. So far as this result is due to the individual worker, it is explained by the same evidence referred to below[5] as bearing upon the health of the worker. This evidence tends to prove that with longer periods of rest and recreation the worker lives in a physical and mental condition fitting him far better for his work, and for continuing his working life.