It is estimated that in the production of coal and in most all the textile fabrics running on full time our capacity to produce in six months is equal to twelve months consumption. When prices fall labor is always the first to suffer. and because of lowering prices labor is often compelled to take the whole risk of continued product:on by a lowering of wages or the factory will close. It therefore follows that labor will eventually be compelled to work on halfpay or halftime or both. and his average yearly wages will not be greater than the wages of the pauper labor of Europe. against whom he was promised protection. And what of the factory itself? With warehouses filled with goods which overproduction had created. coinbinations will be formed to limit the output from the factory. fix the price at which the goods will be sold to the public. and at the same time fix the wages that labor will receive.
Identified stereotypes
Generalization about low wages in Europe.