Skip to content
quotesby

The only means which have been placed in my power of 'raising the wages of colliers' has been by endeavouring to beat down all those restrictions upon trade which tend to reduce the price to be obtained for the product of their labour, & to lower as much as may be the taxes on the commodities which they may require for use or for consumption. Beyond this I look to the forethought not yet so widely diffused in this country as in Scotland, & in some foreign lands; & I need not remind you that in order to facilitate its exercise the Government have been empowered by Legislation to become through the Dept. of the P.O. the receivers & guardians of savings.

William Ewart Gladstone#10

TaxationEconomicsTrade

About this quote

What does it mean?
Wages rise by removing trade barriers and lowering taxes on goods while encouraging savings.
In plain terms
Boost pay by cutting trade limits and taxes so people save more.
What can you take from it?
Lower trade barriers and taxes to raise wages.

Where it applies

  • trade talks
  • labor negotiations
  • policy

Putting it to work

  • reduce tariffs
  • lower consumer taxes
  • promote saving

Questions to consider

  • Do trade barriers hurt workers?
  • How can savings help wages?

Another view

Savings alone cannot solve all wage stagnation issues.

More from William Ewart Gladstone

  1. At last, my friends, I am come amongst you. And I am come...'unmuzzled'.

    Permalink to quote #9
  2. I am inclined to say that the personal attendance and intervention of women in election proceedings, even apart from any suspicion of the wider objects of many…

    Permalink to quote #11
  3. I venture to say that every man who is not presumably incapacitated by some consideration of personal unfitness or of political danger is morally entitled to c…

    Permalink to quote #8

Related quotes

  1. Is that to say we are against Free Trade? No, we are for Free Trade, because by Free Trade all economical laws, with their most astounding contradictions, will…

    Karl MarxKarl Marx quote #1
  2. But man has almost constant occasion for the help of his brethren, and it is in vain for him to expect it from their benevolence only. He will be more likely t…

    Adam SmithAdam Smith quote #2
  3. On the level of political principle, the imposition of taxes and the expenditure of tax proceeds are governmental functions. We have established elaborate cons…

    Milton FriedmanMilton Friedman quote #2