The Republican journal., 1869-08-12
THE COAL QUESTION.

III cilucaNoiS 10 snow what the present at
vance i'll price means and how the market in
the future is to be affected by the present
corner in the coal business. Since the first
Of June, when the monopoists got the system
for causing an advance in working order, the
retail price il New York has steadily adj
vanced until it has reached the figure of
$3.50 70 81 90 pcr.ton. The price at this sea-
son of the year, when supplies are generally
shipped is regarded in New York as pretty
nearly indicative Of the rates for the year.
their eyes and look into matter The Herald
says:
\ combination for the purpose Of advancing
prices was predicted by expert observers of the
trade rs early as last january, the fact being thai
never was the tendency Of large companies 10 sWai-
low smaller more actively displayed than in the
operations Of last year The year 1869 opened with
the annihation OF numerous small companies and
the accumulation Of vast amounts of mining pro-
pcrty by lease and fee simple i'll the hands of few
gigantic corporations Combination was thus made
easy and the result was that early i'll the spring
meeting Of the leading companies held in this city
with view to regulate the production of coal. At
this meeting the proposition to limit production in
order TO cause an advance i'll prices found most favor.
and though the sessions Of the conN cnion We're
private when the convention ourned was pretty
we'll understood among coal men that the thlng ha /
been arranged, and an advance in prices might have
been torctold.
3 Speculative enough the coal business has
! always been, and sometimes rather d>honc, in its
practices; but never before have opportunities for
controlling the trade by combination been pre-
| scented of which so easy an advantage could be
taken. Last fnIl IN attempt was made TO force up
prices by holding back supplies this season an 1T
tempt has Gcen made 10 reduce the volume of pro-
ductiom.
The Herald proceeds to show by relative
statistics that, based upon the idea Of def
cient supply, the advance is absurd and will
in the end defeat its OWL purposes by leaving
Il large production on the hands Of the COM
panies. 1t continues:
The wear opened With prospect of low prices
and stimulation Of demand; the prospect now is
that by the adoption of another system the promise
Of the year is TO be rendered null and void to the
ultimate los of the coal regions. The first bust
ness Of the spring meeting to inculcatc meas
lrcs to defeat the steam canal boat transportation
movement, which promised to reduce the cost of
getting the article to the scabOard by onchat This
done combination was effected to force the price
Of coal as fan above the nominal figure a> possible.
Nor did the trouble, a~ alleged in some quarters,
originate among div tllial miners, who had enough
Of strikes last year. The strike was in reality in
Stigatcd hy the companies for the very purpose of
decreasing the supply or raising hue and cry TO
that effect The T0ti91oIr of the matter was. inst.
"
season, until July thus compelling the SuppoSition
that The July and August rates would govern those
Of The latter part of the season: secondly, having
forced up the price. 10 forward heavily for the lat
ter part Of the season, thus realizing heavily as
possible on the fall buying of the great cities: and
thirdly, if necessary, to adopt the old No, mber
trick of holding back shipments to stimulate prices
by these means it anticipated that prices might
be forced up anu kept up with large pouring of
supply into the arllet thus far that game has been
successful. Wh' Their the rest of the season will
t,Nr,l itItt lia
| shrrWdly suspected that The failure must come
somewhere. and there need lie surprise if prices
fall 10 the lowest minimum before December.
The Herald thinks il might bc demonstrated
that coal Ought to be put in the New York
market at less than four dollars per ton, and
it believes that the remedy for the present
difficulty is to be sought in the breaking
down of the monopoly which took possession
Of the coal regions more firmly than ever
with the opening of the year The whole
production nay now be governed by halt Il
dozen companies; and, when 50 few com
panics are in the field combination is easy
and feasible. A repeal Of the dity on coal
amt an encouragement of importation move
ments would have more effect upon this
monopoly han any other one measure; but
that means Of redress is too far distant and
subject to too much circumlocution to meet
the present emergency. That i repeal Of the
duty on imported coal would materially at-
feet even the New York market there can be
no questions; for in the Boston market, al the
rates Of last year, the consumption of i'm
ported coal was heavy rs compared with the
trade in the domestic product
The Immediate remedy proposed, and APP
/ parently the only one than can be applied
this summer, is for buyers to hold back until
September, thus lessening the ordinary July
and August demand by ut least two-thirds'
and compelling the companies TO abate prices
or hold stock to be sold 1t auction later in the
season. SO ample is the supply on hand chat
it is belicl ed no possible danger cam attend
this policy. 1t is argued in its behalf that, il
the July and August demand counted upon
by the companies full, The excess must enter
the market in September and October, with
the effect of neccssitating q reduction in
prices The people, however, should from
this time forward labor with u unity and
camestnesS Of purpose to stimulate the repeal
Of the duty. When this shall have been done
Ipowcr Of the existing monopoly will be
broken,
There is a sharp controversy going on 1T
Washington between tle negroes Of The city
government and the white radicals Our
readers will remember that Bowen, Mayor of
the city, while At the Gettysburg celebration
refused to let IIatton, the negro councilman.
eat al the same table with the rest, but sent
him to the kitchen of the hotel. The colored
individual holds up pretty well his side Of the
controversy, and threatens vengeance on
Bowen and his associates. He SAYS
| The magnnnouS gentlemen ask. if was cruel
~ treated why did not complain to Them | an
>wrrcd by saying that there was 4 man ut one time
who lived in this world and who very wicked.
and after his death It's said he went to torment, and.
finding things did NOT suit him precisely. he asked
one. Where is the bosS:' and he pointed to the
devil, but declined applying TO him for redress, say
ing Ills use Thank Cod the time is not far
distant when these men will be called upon to give
to their constituents an account of their statesman
ship. and if | should live will be able to stand at
the ballot box and listen with JOY TO the sentence
that will be passed upon them by the oval people