Hon. Carroll D. Wright delivered last night his last lecture in the series on "Wage Statistics," his special subject being "Real Wages in the Past Half Century." In Friday's talk the speaker had considered the statistics of real wages from the stand point of prices; in last evening's address he approached the subject from the point of "cost of living" and of the purchasing power of money.

When the statistics of the cost of living have been perfected we shall have the best idea of real wages, for these figures would give us the most trust-worthy and accurate record of the proportion in which commodities have been consumed. Engel and Giffen have both made valuable contributions to the statistics of the cost of living. An Italian statistical table, published in 1898, is interesting in showing the increase in the purchasing power of labor. The table which entends from 1871 to 1895 gives the number of hours of labor necessary to purchase 100 Kilograms of wheat. At the former date, 1871, there were required 183 hours, while at the latter date it had been reduced to 83 hours. Turning to the United States, Mr. Wright then compared the cost of living of a carpenter from 1840 to 1891, showing the great improvement in his condition, both as regards wages and the hours of labor.

The speaker now turned to real wages as indicated by the variations in the purchasing power of money. In vegetable and mineral products the purchasing power has increased from thirty to forty per cent, although there has been some decline in the animal products quoted. Mr. Wright then showed his own tables which give the increase in the purchasing power of gold and the decrease in that of silver. But in reality the increase in the laborer's gross earnings has been to a great extent curtailed by reason of the expenses resulting from the improvements in his condition. On the other hand, the improvement in the condition of the laborer is largely due to the benefits he receives as a consumer from the cheapening of production. This great bettering of the condition of the laborer is only a natural outcome, for the whole structure of modern society makes more and more demands and the arts of living must adapt themselves to it.