hing which he must sell and which his
employer is not obliged to take, since he can reject single men with
impunity.

2. A period of idleness may increase this disability to any extent.
The vender of anything which must be sold at once is like a starving
man pawning his coat--he must take whatever is offered.

3. Collective bargaining enables men to withhold, for a time,
something which is of importance to an employer. He cannot let them
all go with impunity.

4. A strike is a contest of endurance; and if it continues until the
men are exhausted, they are collectively in the position of the hungry
individual seller, who is at the buyer's mercy. The wages they then
take may be far below the natural standard.

5. If their places are filled at once by men who are already thus
necessitous, the resulting rate may be equally below the natural
standard.

6. The power of the union often depends on its use of force in keeping
the needy out of its field.

7. The rate of pay gained where compulsion is freely and successfully
practiced is above the normal rate.

8. Conciliation does little in the way of changing the results which
are realized without it, but it lessens the frequency of strikes.

9. Arbitration by a court, which must make a decision but cannot
enforce it--by a court which confirms the workmen's tenure of place
while action is pending and declares it forfeited if the men reject
its decree,--such arbitration would secure a closer conformity to the
normal standard of wages than any other action. It would establish
rates which give the workmen the benefit of every legitimate advantage
from collective bargaining.

10. Arbitration by a court which is compelled to act, and can enforce
its decision, may deviate in a particular case from the rate of pay
which strikes would yield; but if the deviation is frequent and great,
it will induce a rebellion against the system of compulsory
arbitration. The rate under this system cannot differ greatly from the
result secured with no arbitration at all. The chief value of all the
foregoing modes of settling disputes lies in their prevention of
costly interruptions of business. They may reduce the number of
strikes and prevent much waste and suffering.

11. A mode of procedure which aims chiefly to end strikes usually
depends on making compromises between opposing claims. This secures an
approach to a reasonable adjustment, as between employers and
employed, but does not