Investing · Entrepreneur memoirs

Samuel Smiles:Thrift, Excerpt 465

Samuel Smiles《Thrift》· Thrift · Investing

The coal famine began to tell upon the iron-workers. The furnaces were often laid off for want of coal. The principal causes of the bad supply of coal arose from shorter hours of labour, and higher wages for less work. Yet a bonus of three and a quarter per cent, was allowed on the wages and salaries received by the _employés_ during the year 1871. The co-operative stores continued to be very productive, and many of the members saved considerable sums of money. In the next year, a bonus of three and a half per cent, was divided. But difficulties were in store. The coal famine continued. The employers of labour held meetings to resist the successive advances of wages, and to counteract the operations of the trades unions.

Source: https://www.gutenberg.org/ebooks/14418
Locator:Excerpt 465 · Verified:2026-10-19 · Verification:Short excerpt

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