equal to the value of his profit. The capitalist system means under all circumstances the exploitation of the wage-workers. It is impossible to abolish this exploitation without abolishing the system itself. And the exploitation must be great even where wages are high.
But wages rarely reach the highest point which even these circumstances would permit; more often they are found to be nearer to the lowest possible point. This point is reached when the wages do not supply the workman with even the barest necessities. When the workman not only starves, but starves rapidly, all work is at an end.
The wages swing between these two extremes. The less the necessities of the workman, the larger the supply of labor on the market, and the slighter the capacity of the working-man for resistance, the lower wages sink.
In general, wages must be high enough to keep the working-man in a condition to work, or, to speak more accurately, they must be high enough to secure to the capitalist the measure of labor-power which he needs. In other words, wages must be high enough, not only to keep the working-men in a condition to work, but also in a condition to produce children to replace them.
Now industrial development exhibits a tendency, most pleasing to the capitalist, to lower the necessities of the working-man and to decrease his wages in proportion.
There was a time when skill and strength were requisites for a working-man. The period of apprenticeship was long, the cost of training con-
