of railroad workers are an example. So also,
the agreement of the Wool Textile Industrial Council, in
October, 1919. The following agreement made for the
Yorkshire Dyeing and Finishing Industry in March, 1919, may
be given as an example.

"(7) When the index figure as defined in classes 4 and 5
hereof exceeds 107 per cent. the War Wages shall be:--

"To male and female timeworkers--107.90 per cent. of the
basis wage.

"To male and female pressworkers--85.672 per cent. of the
basis wage.

"To hand pressers--64.254 per cent. of the basis wage, and
when the index figure is 107 or less, but not less than 100,
the percentage war wages of timeworkers shall be equal to
the index figures; for every 1 per cent. decrease in the
index figure below 100 the war wages of timeworkers shall be
decreased 3/4 of 1 per cent. The ratio of percentage war
wages of timeworkers, pieceworkers and pressers
respectively, shall for all index figures, be the same as
that shown for index figures, exceeding 107."

[135] "Cost of Living and Wages," F. W. Taussig, _Collier's
Weekly_, Sept. 27, 1919.

CHAPTER X--THE REGULATION OF WAGE LEVELS

Section 1. Why there must be in industry an ordered scheme of wage
relationship between each and every group of wage earners. The
limits of collective bargaining as a factor in industrial
peace.--Section 2. In the beginning, the scheme must probably be
based on an acceptance of existing wage "differentials." The
reasons for this are of a practical kind.--Section 3. Any policy
which planned to develop a scheme of wage relationships merely by
maintaining existing differentials would be bound to fall to pieces
in the end. The difficulties that would arise.--Section 4. Two
principles proposed as the basis of the desired scheme of wage
relationship. Their meaning as applied doctrines.--Section 5. These
principles open to criticism both on practical and theoretical
grounds. The chief criticisms examined and taken into
account.--Section 6. Some notes on the best method of administering
these principles. The necessity of avoiding political interference,
if possible.

1.--We have now completed that part of this inquiry which was concerned
with the formulation of principles suitable for the regulation of the
wages of the lowest paid industrial groups. The task remains of working
out principles which could be used satisfactor