-owners' profits to be much
larger than they were. The miners knew that whenever they asked for an
increase in their wages they were liable to be told that such an
increase would turn a moderate profit into a substantial loss, but the
amount of the profit they had to take on trust. Selling prices, yes, but
profits, no.

The war and coal control partly killed that, and it must not return. By
the settlement of June, 1921, for the first time the miners have
established the principle of the adjustment of their wages in accordance
with the proceeds of the industry "as ascertained by returns to be made
by the owners, checked by a joint test audit of the owners' books
carried out by independent accountants appointed by each side." That is
an important step, but does not go anything like far enough.

At least two good results would accrue if colliery-owners conducted
their business more in public: (i) a great deal of the suspicion and
mistrust of the miners would be removed, and they would realise why and
when their wages must undergo fluctuations, and the value of the many
other factors besides wages which went to make up the pit-head cost of
coal; (ii) publicity coupled with _costing returns_ would make it
possible to draw comparative conclusions as to the cost of production in
different mines and districts, which would be a fruitful source of
experiment and improvement. Publicity does not involve publication of
lists of customers, British or foreign.

THE LESSEES OF THE FUTURE

How far will the lessees to whom the National Mining Board will grant
leases to work the coal be the same persons and companies as the present
lessees? In this matter it is desirable to maintain the maximum amount
of flexibility and variety. I do not think we have yet discovered the
ideal unit, the ideal organisation for the development of our principal
national asset. So much do our coalfields differ in geological
formation, in tradition, in the subdivision and classification of
labour, in outlet for trade, that it is unlikely that any single unit or
organisation will be the ideal one for every coalfield. So we must
resist any attempt, especially an early attempt, at stereotyping or
standardising the type of lessee. By trial and error we shall learn
much.

All the following types of lessee seem likely, sooner or later, to
demand the attention of the National Mining Board. (I shall not touch on
the question of distribution, inland and export.