High Wages the Basis of Recovery - Technical Microform Data - Film Size 35mm

Sep 21, 2026

Uploaded by Rowan

“High Wages the Basis of Recovery” argues that the American economic system’s prosperity rests on the principle of high wages, contrasting it with countries that link prosperity to low wages. It explains how this principle supported recovery programs and the NRA, reviews wage dynamics before and during the Great Depression (1930–1933), and warns that abandoning high wages could halt recovery and trigger renewed collapse. It also addresses viewpoints attributed to prominent industrial leaders and a response in an open letter.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages16

Reading Time40 min

AccessFree to download

Technical Microform Data

Film Size, Reduction Ratio, and Filming Details

Restrictions on Use

97-84143-16Workers EducationBureau of America High wages,the basis ofrecovery New York [193-] # COLUMBIA UNIVERSITY LIBRARIESPRESERVATION DIVISIONBIBLIOGRAPHIC MICROFORM TARGET ORIGINAL MATERIAL AS FILMED-EXISTING BIBLIOGRAPHIC RECORD 308Z Box 604 Workers education bureau of Americe.High wages,the basis of recovery;opinionsof Henry Ford,Edward A.Filene (and others…Foreword and open letter by Matthew Wol1.New York,Workers education bureau press,ine.193-1 cover-title,19,1:p.230m.(Its Studieson wages,2)0977 Reproductions may not be made without permisslon fom Columbia University Libraries RESTRICTIONS ON USE: # TECHNICAL MICROFORM DATA FILM SIZE: 35mmREDUCTION RATIO: //:1 IMAGE PLACEMENT:IA(IIA) IB IB DATE FILMED: 7la4197 INITIALS: I TRACKING\#: 2608 FILMED BY PRESERVATION RESOURCES,BETHLEHEM,PA. # HIGH WAGESTHE BASIS OF RECOVERY Opinions of .... HENRY FORDEDWARD A.FILENEROBERT W.JOHNSONARTHUR H.ADAMSFather FRANCIS J.HAASARTHUR O.WHARTONGEORGE M.HARRISONDANIEL J.TOBIN Foreuord and Open Letter byMATTHEW WOLL 308ZB0x60 Workers Education Bureau Press,Inc.New York High Wages the Basis of Recovery Foreword by MATTHEw WoLLThird Vice-President,American Federation of Labor HE thing that most distinguishes the American economic system from allI others is that in this country the principle of high wages is generallyaccepted as the basis of prosperity,while in other countries business leaders,almost without exception,believe that prosperity is based upon low wages.Thisprinciple of high wages underlies the NRA and the entire recovery program,butit was also generally recognized in this country during the New Era period ofI9T9-1929 and even,to a somewhat lesser degree,for decades previously 大 During the years preceding 1929 the principle became almost universallyaccepted not only by exceptional industrialists like Henry Ford,but by Alfred P.Sloan,Jr.,and most of our industrial leaders,as well as by former PresidentHoover and practically all of our leading statesmen.Mr.Hoover,for example,predicted that a larger and larger proportion of the product of industry would goto the consumer in the shape of lower prices and to the employee in the shape ofhigher wages and salaries. PCR142 N0y 12 After the panic of r9z9 the automatic pressure against wages finally becameirresistible.But even then industrial leaders acknowledged for some time thatthe best way of resisting sill nore serious collapse was to keep wages just as highas practicable.At a series of conferences called by President Hoover early in I930the captains of industry and leaders of labor agred that as a basic remedy againstthe rising depression wages were to be maintained. During the worst years of the depression(1930-1933)wages continuouslyfell.But even then the low wage doctrine was nowhere preached in this coun-try.On the contrary,the very moment a recovery program was formulated inWashington the high wage principle was made a basic feature and was definitelyembodied in the NRA.However,the wage increases under the NRA were tiedup with increases in prices made posible by that measureAnd the time hasnow arrived when further price increases in many industries seem to be imprac-ticable or undesirable We have,therefore,come to a new phase of the recovery movement.Themaintenance or increase of profits now depends cither upon a decrease in thecost or an increase in the volume of production,or both.America has beenthrough such periods before without abandoning the high wage principle.Butsome of our leading industrialists now believe that a reduction in the cost oflabor is necessary,and that for this purpose wages must either be lowered or fur-ther increases prevented.Unfortunately,one business leader has made a publicstatement to this effect. The abandonment o

FAQs

What principle is presented as the basis of American prosperity?

The document states that high wages are generally accepted as the basis of prosperity in the American economic system.

How does the document connect high wages to the NRA and recovery?

It says the high-wage principle underlies the NRA and the entire recovery program, and that wage increases were tied to price increases made possible by the measure.

What warning does the document give about abandoning the high wage principle?

It warns that abandoning high wages could check recovery and lead into a new collapse by reversing a principle that dominated the economic structure for decades.

Sep 21, 2026

Uploaded by Rowan