When Henry Ford Doubled His Minimum Wage (2014)

Fortunately, Garrett was able to get an audience with Henry Ford and, over the course of two days, discuss the company’s revolutionary changes. Ford told Garrett, “The payment of five dollars a day for an eight-hour day was one of the finest cost-cutting moves we ever made, and the six-dollar-a-day wage is cheaper than the five. And it set a standard for wages that, despite all the predictions of doom for the Ford Motor Company, every other car company eventually adopted.

Source: www.saturdayeveningpost.com