The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1857-12-03
W. T.. BnowN, Scc'y.

New YORK. Nov. ID 1887.
"Arbea oder Brod," work or Bread is
the cry which now goes up from the accumn-
lated mass of labor with which this market
is overstockd There is one reason why Ia.
Dor does not find market just now that
should be taken into consideration by the
unemployed Every other commodity is TT
duced below lis usual price by holders, in or
der to tempt investment But laborers are
rpsscsSed with the idea that their labor has
no absolute value and would not be subject.
ell to the operation of the law Of supply
and demand which regulates tho prices
Of all other commodities. They will not
make voluntary reduction Of prices, and
therefore, labor offers no unusual inducements
TO capital. II mechanics and working men
generally. would conscn, TO work at % to
% per cent less than their old rates there
would he afforded an opportunity Of erecting
buildings, manufacturing goods, etc, at un-
usually low rates. which wonld temp, the
capitals, to invest his capital in such spec.
ulation. Now the present trouble is that
money is s,agnant in the hands Of capitalists.
They have plenty Of it, but they dare not
lend it 10 the parties who have formerly found
employment, for it, because the credi, Of
those parties, or Of the ma ority Of them, ia
lost. There is plenty OF money in this city
for which safe investments are wanted al
les than the legal rate Of interest. One of
the reasons why capitalists will not lend to
manufacturers and traders. is, because the
prices Of goods in the market have sunk be-
ow the cost Of production, as II general
thing, and under such circumstances in
creased production would I've al unsafe
Investment. What is the remedy Re
ducc the cost Of production The 81 manu-
facturers can afford to hold stock on hand
for better season. Builders can afford to
erect houses and wait sales until the increased
cost Of building shall have increased the val
ne Of production. Therefore, we shy to the
laborer, if yon can not get dollar day
offer to work for fifty cents, and you will
thus make market for your labor. And,
again, the reduced prices Of oil commodities
render the expense Of living tighter.
The labor meetings Of the week in the
Park and Ton pkins Square, have developed
some queer theories Of social economy. and
the multitude have been formed, with tbs
advice Of all sorts Of blind leaders, from The
disciples Of ALBERT BRISBANE, 10 mad
French woman, who has plan Of support
ing all the poor Of the city Of New York in
a magnificent hotel, the exp.ne- Of which
were to he betrayed By the erection of a
church. When this magical process o.
making one debt pay for another WAS to b.
carried out, the lady does not condescend 10
explain.
The discussions with regard % the caure
and effects Of the panic have Develops
throughou, the community surprising
amount Of ignorance and misconocption, a
regards some Of the fundamental princi
,,ls4 Of true political economy. This show
the neccss,y for having business men elnca
,el 10 their business whether the sphere o
their operations IT, financial or commercial
they should bo prepared for their practice
researches by thorough instruction in III
theory Of commercial aud financial sci
ence.
, The arrival 81 the Arabia was awa,,e,
with the intsn.est anxiety by knowing me
10 this city, especially importers, who wer
curioo. 20 know how The manufacturers o
the Other SIDE would foci when they receive
, ,le in,imation iha, Their deb,s due bcr
p could no, b. liquida,sd for xix month NOR
a, lea.s' Bat il scerns they have 10, q
the wort Il i, into their hea'ls even Sc
I, ,akes thee .'obnBy Bulb some time
=, got a. bss good or bad through the
kali They p@rsis, in suppOsing that on
banks have acted snsibly since the susJei
q s.on. that money has tecoms easy. and ever,
thing IL going on at . plank road raj
. toward. prosperity, whereas. since the Ar
has mails vent ont Ne have be-n mo
i utterly AMI sn,irsly smashed, Ne have la
o oar face, commercially speaking, thrust in'
II the dat, yea our very Noses have be-
rubted 10 il. -.