Giffen, and a
number of careful investigators, showed a vast improvement in the
industrial condition of the working-classes during the last half
century. It was pointed out that money wages had risen considerably in
all kinds of employment; that prices had generally fallen, so that the
rise in real wages was even greater; that they worked shorter hours;
consumed more and better food; lived longer lives; committed fewer
crimes; and lastly, saved more money. The general accuracy of these
statements is beyond question. The industrial conditions of the working-
classes as a whole shows a great advance during the last half century.
Although the evidence upon this point is by no means conclusive, it
seems probable that the income of the wage-earning classes as an
aggregate is growing even more rapidly than that of the capitalist
classes. Income-tax returns indicate that the proportion of the
population living on an acknowledged income of more than L150 a year is
much larger than it was a generation ago. In 1851 the income-tax-paying
population amounted to 1,500,000; in 1879-80 the number had risen to
4,700,000. At the same time the average of these incomes showed a
considerable fall, for while in 1851 the gross income assessed was
L272,000,000, in 1879-80 it had only risen to L577,000,000.
Though the method of assessing companies as if they were single persons
renders it impossible to obtain accurate information in recent years as
to the number of persons enjoying incomes of various sizes, a comparison
made by Mr Mulhall of incomes in 1867 and 1895 indicates that, while the
lower middle-class is growing rapidly, the number of the rich is growing
still more rapidly.
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