The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1866-01-26
4 Case for sympathy.

MIR, Sprague, one of the senators in CON-
gress from Rhode Island, whose wealth has
been accumulated by fortunate manage
ment of manufacturing capital. has laid be-
fore congress d suggestion for the benefit Of
his brother mill owners. He has given an
example of the truth of the remark which we
have often had occasion to make, that the
more of what's called protection the manu-
facturers receive, the more they ask.
On the 10Th of December Mr.. Sprague
moved joint resolution instrueting the prop
er committees In the senate and house OF rep
resentatives to inquire, in SD bstance, into the
tax on domestic manufactures, and that laid
ON imported goods, and whether imported
goods had not by this means the advantage
over those manufactured herein other
words, whether some further legislation is
not necessary for the interest of our mill own
ers.
In what distressed condition the mill
owners are, and how important IL IS that coa-
gross should interfere to save them from rn-
in, the report of the semi annual dividends
Just declared by the manufacturing compan-
ies in New England viii demonstrates. Look
ing over the list which contains the state
ment of the capital they employ and the prof
it's they receive, we find them In the lowest
depth Of distress. The Androscoggn Com
panY, for example, divided twenty i've per
cent. on its capital on the first OF the present
month It's capital is million Of dollars
it's dividend ia quarter of million. Alter
paving liberal salaries to those who superin-
tend it's concerns, and wages TO the work peo
pie employed, the shareholder touches TWEEN
ty-fve dollars for every hundred at which his
shares are valued. Here is clear case for
the intervention of congress. We wonder
that Senator Sprague who is not without ora
torical abilities, did not introduce his scheme
with pathetic Grafton on the restitution of
his Androscoggln brethren.
But the unfortunate owners the Andros-
ooggin shares are not the only objects of com
miseration. The Appleton mills divided
twenty per cent. on the first OF this month,
and five per cent, which used to be called a
handsome dividend, on the first of June last
The Bates mills divided thirty. five per cent.
for the whole year. The Chicopee mills,
with capital of S420, 900, divided for the
whole year ending with the first of this
month. fifty per cent Every hundred dol
lars invested In thu Chicopee mills brings
in to its miserable owners fifty dollars
These are hard cases, to be sure, and we
wonder not that Senator Sprague has stood
forth as the champion of these unfortunates
thus early in the session. 1t was case that
admitted of no delay. Why here is the
Nashua Company which divides only quar-
ter of million of dollars among it's share
holders Here are the Pacific mills, which
have earned only $4,000 Only little
less than three millions and a half have been
distributed by these New England mills
among those who own the stock, as the rre-
eeeds of the last three months, after the pay
Dent of all expenses, salaries and wages
Mr.. Sprague certainly should signalize the
re-opening of the session of congress with q
funeral Grafton on the decesss of American
industry.
When we compare what the Massachusetts,
railways have been doing for the past ak
months with what the shareholders i'm the
cotton mills have received, we wonder that
air. Sprague did not bring in resolution d.
recting an an inquiry to be made whether a
liberal bounty should not be paid out of the
national treasury to every proprietor of rail
road shares. The New England railroads are
making modest dividends of five or four per
cent for the last six months. and eight, ten,
or seven-very rarely less, for the whole
year-that is 60 say, Only one. two, three. or
four per cent. more than lawful interest in
New England We wonder that this case of
still greater distress and restitution has been
neglected by Mr.. Sprsgue.
The Commercial Bulletin, q Boston print,
In which we find these heart-rending ac-
: counts, comments upon them in . vein Of in