The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1854-12-23
SATURDAY MORNING,::::::*DEC. 2;


Depression OF Industry In New YORK
The New York Tribune of the 18th. in
commenting upon the general depression OF
business in the Empire City, adduces some
startling facts and statistics, going to show
that the most extreme suffering and distress
is impending The Torktng classes, and that
it is not confined to any particular branch OF
industry, bat pervades the whole business
community.
This depression, which has now become
universal, was at tirst felt in the wholesale
trade of the city, and in the money market.
Although the present condition Of monetary
affairs may be considered comparatively
easy, among solvent business circles, there
is not the least disposition to speculate"
consequently paper which is not unquestion-
ablysecure, goes begging at any price. Hun
dreds of honest and industrious mechanics,
who have been doing their principal bust
ness upon good accommodation paper"
have been compelled to suspend all business
for the present.
The iron business of the city, which, in all
its departments has hitherto employed more
than %, 900 regular mechanics, beside an in
definite number Of common laborers. The
Tribune learns, "upon investigation" that
not more than one-half the number of men
are now employed, and the anticipations for
the future hold out still gloomier prospects.
Some of the shops in Brookly and Williams
burgh, which still hold out to run, have
discharged one-half their hands, and work
the rest only half time.
The depression in the Printing Business
has not been SO 'great for many yea-s.-
Many of the leading Offices have discharged
two-lhirds of their employees, and have re-
duced the remainder to two-thirds of a days
work. A large number of journeyman prin-
tiers have left the city and many more are
totally destitute of work.
House builders have scarcely anything un-
der way. A large contracting Mason esti-
mates the quantity of business now doing in
his profession at about one-eighth Of that of
1000 of the 1000 Masonssusually employed
in New York, are now at work.
House Carpenters are among the most ex-
tensivs sufferers.
The condition of the Ship Yards exhibit a
greater state of inactivity, than ever before
only sufficient men being kept employe ed
to complete the work in progress. At a re-
cent meeting Of ship-owners and agents, il
was resolved to reduce the wages of Ship
Carpenters 80 per cent.
In the nine ship.yards in Williamsburgh
and Greenpoint, employing, on an average in
good seasons, 1000 persons, only 237 are
now employed.
necessarily affects large numbers Of opera
tives engaged in other possessions.
Other branches of industry have been
looked into and found to suffer proportionate
~. We append the Tribune's own remarks
under the head of DIR GooDs:
"There has been a great falling off in the
wholesale trade, estimated at 60 per cent
The retail trsde is reviving, for short time
on account Of the holidays. There are some
few exceptions-Stewart, for example, with
whom business has rarely been better
They say they have sold as many costly
dresses this season as ever. Stewart says
women are even more extravagant than In
former years. He thinks the present strin
gency in the money market will cause q
great decline in the amount Of importation:
in the spring, and consequent increase Ia
the consumption of home manufactures.
To the above may be added similar com
plants from almost every large city in the
Union. The general stagnation on public
works, and the total suspension or failure os q
large number of Railroad projects, throws
vast number Of the poorer class of laborer'
out OF employment and pennyless upon thu
world.
The ST. Lawrence Republican, published
at Ogdensburgh, in Northern New York
SAYS: "The Saratoga and Sacketts' Harbo
railroad, after Sl5O,O00 has been expended
upon it, and debts 10 the amount OF 250,00(
been contracted, has been discontinued
throwing out of work some 5000 laborers,wh
are said to be suffering greatly in the north
ern wilderness. The snow is upon them
and it is feared that many, particularly wo
men and children, will die of cold and starva
ton. We have only given few OF the ex
treme instances which have come to GU
knowledge, from various sources, but can se'
no escape from a much worse state of thing
before the winter is over than the mere min
iature here presented.