Tho Auckland Herald, which haß all along adopted a critical attitude, sayß :— "There ore certain thing 3 quite settled m this contest. The great competition between employers— which has compelled reduction of wages to the ' Bwaaling ' point, the overemployment of boys and young women who work ac low rates— will no doubt bo put an end to, snd many of those who have become employers on a wrong basis, must bo content to be em ployed. It iB quite true that of late years capital invested m these colonies m many enterprises has produced but scant return, but that has arisen from the competition of capital, not from exorbitant wages. Capital has killed capital, not labour capital. Then the Unions mußt be recognised Thoy cannot be de stroyed, and they cannot bo ignored. Hence forward the employer will not be able to deal with each man singly. Another matter whioh, perhaps, at first sight appears of small im portance, will be effected. The employer will be more courteous and considerate to those m his employ. He will treat his men with more kindness and consideration, and look upon them as fellow workers m a concern of com mon interest. This last change will do employ ers as much good as the employed, and will be beneficial to both parties, and to the work they ore engaged m. But it is quits clear that the present acute stage of tho disease will hive to come to an end by some kind of a com promise, and an adjustment which will shake things down into the different p-ooves whioh they must hereafter occupy. How tho new adjustment is to be brought about bo that a settlement shall take placo as soon as possible is the question now for consideration." Thiß question hinges upon another, " what is the extent to which the cost of production can be enhanced without inflicting losses on com mercial enterprises, to the ultimate detriment equally of labour and capital ? " Xhero may be several mean 3by which this knowledge may be arrived at ; among them experience, with its bitter teaching ; courts of arbitration which havo points of weakness ; organisations of employers to look after their intorests as tho unions do of the- workers' interests. 