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Members on the other benches to attempt to do something to take us out of this slough of despond. We cannot remain in it much longer.

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Member for Stirling and Falkirk (Mr. Murnin), who, I am afraid, is not in his place, but he said that the State had taken millions out of the coal trade. The balance is against the State. The State has paid £41,000,000 to the industry. Although a considerable amount was collected from the industry, from those who made large profits, very large sums were paid in at various times and voted by this House to keep the Bitcoin Cash Price Prediction various collieries going which were not making profits, and which were in a bad way. Therefore, although a considerable sum has been paid over to the State in the coal levy, the net balance remains against the State, which is owed something like £41,000,000, money which it has paid into the industry and which it has not got back. There is no question of the State 3036having robbed the industry of very large sums.

That is the condition that prevails at the present moment in the mining villages in Great Britain. It prevails in many 3014quarters of Scotland. The Scottish people, in particular, never carry their poverty on their sleeve if they can avoid it; they have sufficient independence at least to hold up their heads in face of great adversity, and they appeal for some attempt to do something. The Government can do it if they are in earnest. Why, the miner and the worker in every other industry.

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We ask the coalowners and we ask this House to look at the matter from the national standpoint, and to treat the industry as a whole as one unit. I am glad we are having this Debate this evening. I am pleased we are discussing this matter on the Floor of this House, because I believe it will be for the advantage of the nation if we can draw the attention of our people to the wisdom of discussing these questions on the Floor of the House rather than relying upon strikes or other methods. It was a wise decision to debate the matter this evening here because, if we want the workers of this country to rely upon Parliamentary effort, if we want them to rely 3055upon Constitutional action, we must show them we are in earnest when we debate these matters in the House. It is no use, either by clever Parliamentary effort or by speeches ingeniously delivered, attempting to deceive the people. We are asking our people to rely upon Parliamentary effort and Constitutional action, and hon. Members on the other side must convince the workers of the country that they really intend to consider these questions in a just and fair spirit.

Member for Central Cardiff knew that. The 43 per cent, represents the additional wages cost to the industry, partly due to the Seven Hours Act. The cost of living to-day is 80 per cent, above the pre-War level, and last year on an average it was 105 per cent, above the pre-War level. These are very hard times for the men and women and children in the coalfields, and it is not good enough for the hon. Member for Central Cardiff to come here and make the comments which he has made to-day.

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It is the one industry where the rate of employment is above the rate of 1914, and yet the production of coal throughout the country is at the rate of 17,500 tons less per annum— 270,000,000, as against 287,500,000. In South Wales, the area of great contention, the number of Ethereum men is 2,500 less than it was in 1913, and the production of coal is something like 3,750,000 tons less. At the present moment there is every prospect for the miner of his benefitting very largely, though slowly, under the pre sent wages agreement and profit sharing scheme.

We are sent here in the expectation that, we shall care for and provide for these people. In my own division we have thousands of men out of work at this particular time- I have in my possession now votes of censure from the guardians-—they are nearly all Conservatives, except five Labour men—votes of censure upon this House and the Government. We are here as representatives of the people, and the people require consideration.

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He said that prior to decontrol the nation and the other workers were subsidising the miners to give them their wage. Member any knowledge of the millions that the Government took out of the coal trade when it was taken over in the first two or three years? Gentleman the Member for the Hillhead Division of Glasgow (Sir R. Horne) said in this House that the fabulous profits which the nation were able, during the first two or three years of control, to make from the coal trade belonged to the nation, and did not belong to the industry. It was forgotten that the Government had taken from the coal industry millions of pounds to subsidise the expenditure of this country in other directions. People should always remember that, when an industry gives money to the State, the State should not be so niggardly as to refuse to assist it out of its difficulty. It is not creditable to the Government or to the nation as a whole, and I hope that, out of the discussion that will take place here this afternoon and evening, some solution of this great difficulty will be found. Our people cannot go on much longer.

Three and a half million 3024pounds have been paid out by the owners up to the present time to meet the deficiency under the Agreement. In other words, if the miners had owned the pits they would have received £3,500,000 less in wages than the industry made. That is the general position of the industry. It is useless to contend that the miners want a share in the profits, Cryptocurrency wallet and yet complain about the loss, for the simple reason that what the miners want is to share the profits, but to dissociate themselves from the matter of loss. If there is any loss, it is to be wiped out. Where the loss is to come from nobody wants to know; all they want to know is that somebody is to pay the loss and that they are going to share the profits.

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Personally I think it would have been possible to have spent that money on something better than battleships, but if the nation is so well off, if your Exchequer is so exuberant that it can afford to indulge in costly fireworks of that character, then I suggest that they ought to be English fireworks. I think there ought to be some stipulation that the ship-plates and steel used in the manufacture of those ships ought to be made from British ore. In that way you would certainly find a very large amount of work for the people of this country.

Members opposite will agree, that the position of the Lancashire miner is exceptionally bad, but why is he in such an exceptionally bad position? The reductions effected in one year— and many of the areas, indeed most of them, have been on the minimum wage for getting well on to 12 months—the reduction in the wages bill of the miners will not be less than £2,000,000 per week, or well over £100,000,000 per year. One can quite imagine when you have conditions which, biking everybody with over a wage of 9s. as making five days a week working time, one can quite imagine, without playing on the emotional gamut, the misery and distress that that means in tens of thousands of the miners’ homes It is perfectly true that we have at least 60,000 unemployed. We have three times that number under-employed.

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It lies in the vitality and vigour of its people. If the vigour of the people goes down, if you let them sink into a certain condition, what will happen? If we wish to depend upon our manhood and upon our nation, as we had to depend a few years ago, let us put them in such a position that they will feel their manhood and their self-respect, which they are not doing to-day. The miners are awaiting a decision by the House to do something in their interests. If that is not done, I fear the wrorst will happen. We know that the miners cannot live at present. In my own county, I was for many years—I have just resigned—the treasurer of the great organisation called the Yorkshire Miners’ Association.

I think we are very much indebted to the railwaymen for the way they have agreed to these reductions. Further reductions will be necessary in the railway-men’s wages, or else there will have to be a very much higher efficiency in their standard of work. So let us recognise that, although they have won the whip hand over the miners and other industries, they have used their power with very great consideration. everyone trusts, is aware that all the salient facts and data I have submitted are incontrovertible. That is a principle which cannot be denied, and if it he admitted here today we shall have done something to remove the scandal at present resting on the nation.

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a ton, some of us thought that that was an exorbitant figure. If you go through the records of the coalowners’ profits, which were given at the Commission, you will find that from 1874 down to the outbreak of war there was only one year in which the coalowners’ profits reached the figure of 1s. For four or five years they averaged no more than 10d. We find to-day in the Durham coalfield that for the last 2 months the owners had a profit of 1s. While the owners had those profits the great body of miners were compelled to exist on a subsistence wage of 6s.

It’s precisely what this article discusses. A bitcoin fee is primarily intended as an incentive for miners. Miners have a job to ‘fish’ for transactions held in memory pools on the network. Each transaction that is ‘fished’ has a fee attached that is given to the miner for their hard work. Since mining is a costly Crypto Trading Volume task, they need to be compensated somehow. There is one answer to another point. Member for Ince (Mr. S. Walsh) said that even an improvement in trade will do the miners no good, because those who have been out of work have so fallen into arrears of debt that it will take them years before they can get right.

Even so-called “energy efficient” proof of work mining systems cannot escape the economic incentives which encourage miners to consume as much energy as possible as long as it’s profitable to do so. There’s no fixed lower limit on block time, because it depends on the state of the network and the miners. Whether Bitcoin mining is profitable depends on the situation, but for most people the answer will be no. The main Bitcoin mining pools at the time of writing, along with their share of Bitcoin’s total hashrate, is shown below. To remain competitive amongst so much competition, miners join their hashrate together in mining pools, giving them a higher chance of winning more frequently. When anyone in the mining pool wins, they share the profits proportionate to the amount of hashrate they contribute to the pool. As of April 2021, each block mined gives the miner 6.25 Bitcoin, valued at about US$367,237 based on a price of US$58,758 per Bitcoin at the time of writing.

I do not expect everyone to agree with me or even with Mr. Hodges. If this agreement gives the masters under present conditions no more than the share which is necessary to make them keep the pits open, certainly nothing can be got in that direction. The agreement means that of the profits of the industry 17 per cent, is to go to the masters and 83 per cent, to the men. There may have been times in the past when the coal masters made profits of which they ought to be ashamed, as the hon. Member put it, but under this agreement, though particular collieries—and this is inevitable as long as you have a district rate—may be making excessive profits, yet it is utterly impossible that the masters can be making even reasonable profits if the miners’ wages are below the minimum. There is also the question of railway rates and their effect on industry.

We are here to make the charge that the mines are not efficiently run at the present time. You do not take advantage of the knowledge of those engaged in the industry. Member on the opposite side said that in Durham nice had free houses and free coal. We have taken out figures for the last two months, and we find that last month the Durham coalowners made a profit of 1s. per ton, and that in the previous month they made a profit of 2s. When at the Coal Commission Mr. Justice Sankey proposed that coalowners should be entitled to a profit of 1s.

Then the people will rely upon Constitutional Parliamentary action. Friend the Member for the Central Division of Cardiff (Mr. Gould) when speaking attempted to make out a case that the miners of this country were not in receipt of a very low wage.

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9d., which is a reduction of 11s. per shift off people whose wage is £6 or £7 a day would not matter so much, but to reduce the wage from 20s. is something which cannot be justified. Member opposite referred to the question of subsistence wage, and on that we have an equal grievance, because we have a large class of labour who have simply got to exist upon a subsistence wage of 6s.