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Wages have been sought to be reduced in order to turn out cheaper products and so be able to compete with other cheap European goods. The secret of the obduracy of the coal-owners has lain in the fact that British coal costs more than the world-price per ton. The difference in price could be put on to the private consumer but there are limits to his means of purchasing.
These, reckoned at world-price figures, are sold at one-third of their value. But there is little market for them. The next most characteristic things of the city must be the thousands of cafés, where you sit at your coffee surrounded by animated crowds of men reading papers, discussing politics and business, the whole press of Europe at their disposal.
It is a curious anomaly that Americans should burn cotton-bales in the Southern States to keep up the price, and that the American Red Cross on the other hand should in Europe distribute free garments to those who cannot pay the world-price thus attained. The exchange is very low, five crowns to a penny, three hundred to a dollar.
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