The Northern Daily Times.
Liverpool, Merseyside, England, 1853-10-20 00:00:00

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THURSDAI

OCTOBER

1853

present threatening state of things at

the first terrible illustration w e ha`

ree4rd, of the direful result of that premature and
ill-advised application of the " Screw" by the Bank
of,England, to which we have so often alluded in

the columns of the NORTHEN DAILY TIMES. Th

suspension of labour throughout the Northern, of
manufacturing districts, was the probable and dis-

sterous consequence we predicted as like

follow from the adoption of such a course to meet

I, mere semi-political necessity. Previous to the

idvance made in the rates of interest for mom

trade was prosperous, and the activity whic

isted in every branch of industry was the happy

reflex of the success which attended the trade and

commerce of those countries whose want& we wei

fg, and whose pr

n return

.e receiving

In•the strikes which took place while our trade
stood and was progressing on this intelligible and
propitious fobting, the differences between the
employers and employed were readily adjusted,
and the industrial production of the country

-istained. But now, that the money-market is
screwed" down to a, pitch litti

short of a

universal refusal to afford'aceommodation to trade,
and the, greatest doubt and apprehension pre-

tails as to what the London bankers may do
to-morrow Or next day, we must deny entirely the
truth of the assertion'put forth by the Operatives'

Committee at Preston, that they are the victims of
capital: The fact is, they are the victims of the
very opposite element in our social and political

namely, the want of capital

When the rate of interest demanded for money
ly to the profit derivablE

,pproximates too clos

1 the employm

)f labour

prudent and

3ual .course is to discontinue the employment of

and it is a very nice question to decid

ie`ther the mills in Preston would not have been

closed,. as they are at present; from the dearness of

alone, and in the absence of any strike on

the part of the operatives. One of the most eon-

spicuous reasons assigned by the organs of the
London bankers for raising the rates of interest
was, that the industrial classes had become horders

of money the extent of two or three pounds
eab'h,. and at in order to remedy the evils

likely to accrue from this

,ource, it was necessary

to -arrest the current from whence it arose.
It was also urged that our trade was becoming
speculative and hazardous, and that it Was expe-

dient to apply the usual test, in order to judge of

)undness. With these

and ti, variety of other

causes, all tending to ,confitse, if not embarrass,
the large employer of labour, we do not see how
the advance demanded by the operatives could be
conceded. That the cogent reasons we assigned

)account for the increased suspension of laiDour

throughout the country within the last two months,
has, we have no doubt, influenced many of the

.eston emplqers in adopting the closing move-
The Committee of Associated Masters,
however,.assign a different cause, and will not re.

calve any proposal from, or acknowledge the Com-
mittee of Operatives, except indeed as a dangerous
combination, which they reftise to treat with in any

GiTe up your Committe(

and lay aside all

appeax.ance of combinittion, before you think of

king us to listen to your demands

is the lam,

guage of the Masters' Committee; and in this we
think:they are perfectly justified, seeing that they
are in no way to blame from the adverse turn the
affairs of the country have taken. The employer

is in all such cases

t a loser t

ployed ; and the ale-house brawlers,

who talk of

the tyranny of capital, and its monopoly, are the
most dangerous guides the people could. follow.
Tfie reverses which we have experienced in

trade, manufactures, and commerce, are subjects
which are far beyond the comprehension of such
sl44l4Veaded demagogues ; and as they are by
Yalits-4.emplex to be dealt with successfully in the

Tiohiniitlke-room of an Operative Association, we
earneS4 commend the " turn outs" to abandon
their.. tradt
, ' combinations, and look to their elec-

do i bcs6o4 for the redress of grievauces which are
±-104CO'n'ational than local, and in the meantime

to-VstituN(tiptheir work, with full confidence in the
41/4tliviktrEL&ohsideration of their employers.

the various eireuaistances which have
led to the suspeasion of :labour, end the general

embarrassments of our trade and manufactures an

brought under discussion in the proper quarter,
we shall be found at our posts, as the true expo-
nents of the losses sustained byindustry, and the
serious injuries done to trade. The position 'in
which the question of employer and employed
at Weston stands at this moment, will be found in
the accounts furnished in another column by our

own Reporter:

SOME of our contemporaries have been amusing
themselves of late by vilifying Turkey and the
Turks. Admitting the truth of the accusations so
gratuitously asserted, it would be both ill-timed

and impolitic at this moment to give expression to
them. But there is no mistaking the animus which

uch aqiefaiious course 'of policy.
The truth is, now that Turkey and Russia are pre-
paring for the brunt of armed contest, attempts
have been made to withdraw sympathy from the

has suggested

former, and- damp popular feeling in favour of
the Turkish- people. We deprecate the idea o

making the Eastern question savour of the odin

It is purely a question of inter-
national right ; and as such should rest entirely

theologicunt

upon its merits, apart from extraneous and
irrelevant considerations.
That• Russia has been the aggressor, even those

must admit who are loudest in sounding forth thc

)f the Turkish empire, and the mis
overnment of the SULTAN. The London Times
which a day or two ago, thought fit, in it:

rottennes

apient wisdom, to enlighten our provincia
_ •

ignorance, by informing us that the Turks are
—and which would willingly put

unbelievers

an extinguisher upon the

Turkish empire

to-morrow if it could

—ventures not either to deny

or justify the aggression of the AUTOCRAT. In one

of its leading articles of yesterday, although in it

general

)caling decidedly unfavourable to the

Ottoman PORTE, it nevertheless joins issue Ivitl

one portion of the SULTAN'S Manifesto :—" Such
case does it (the Manifesto) establish against Ru

sian violence, that a reader unacquainted with the
broad bearings of the.question, and the peculia.

relations of the two. Governments, would conceive

that Turkey had been absolutely faultless in the
transactions which created the quarrel. And this,
indeed, as far as the present embroilment is con-
cerned, is little more than the truth. The PORTE

has given Russia no cause of complaint whatever; it
has endured great provocation with much forbear-
ance, and, with an obvious desire to avoid a rupiure,
it has arisen at last only against continued aggres
lion, and the casus belli now accepted is a true case,
and constituted solely by the acts of its enemy."
If this, then, be true, why not permit Turkey un-
reproachedly to assume the attitude of defence,—to

endeavour by amicable arrangement, if possible

but if not

laving recourse to that stern alter-