The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1873-11-20
The Relations of Labor and CAPITAL.

The New York Herald, in recent financial
article, discourses as follows upon the relations
of labor and capital:
There is no feature of the present monetary
situation more deserving of attention and care
tul study than its relation to the labor of the
country. From all sides we learn daily of the
closing of factories, with consequent dis
charge of operatives, or the reduction of time
or wages OF operatives where factories are kept
running. Throughout the country it is salts
factory to note the ready acqniescence of the
working people in these compromises, notwith-
standing the belief abroad, seemingly not
without foundation, that in many cases these
suspensions, partial or entire, were not abso-
lutely necessary, but, being permitted by the
condition of trade, the opportunity was availed
of to bring about revolution in labor. And
such revolution must come either in respect to
time or wages. The era of shoddy is passing
away. The great initiation produced by the
war, with its rapid issue of paper dollars, is
suffering reaction. The large bank balances,
the result of fat contracts, and the extravagant
living consequent thereupon are fading vis-
ions, and a new thought, of retrenchment
economy and cautious expenditure, is sup
planting the reckless style of living which
followed upon our civil strife.~ With the inau-
guration of this social and business reform
must come universal shrinkage of values,
such as we have already in part seen. 1t is
ception in the operation of a general principle
so true to all the conditions of life as this. The
united operatives or trade unions may struggle
for a time against the receding tide and sporad-
ically gain a temporary victory. But if inha-
tion be not again entered upon, if conservatism
and gradual contraction of superfuous out
lay looking to the return of all values to a
specie level so that resumption may come
without danger, be the wise policy that shall
govern US in the future, alike as individuals as
in our aggregate national purpose and en-
deavor, all forms of labor which have been
advanced in price by the pressure of conbi-
nations out of proportion to surrounding
conditions must suffer a reaction, when reac-
tion in prices elsewhere makes this in harmony
with new conditions, too great to be endured.
Labor not so situated, that has simply followed
the ordinary laws of trade-supply and de-
mand-will readily adjust itself to the new
order of things without serious disturbance of
existing relations. The workingmen through
out the country, and in this city particularly,
would do we'll to bear these facts in mind, and
prepare themselves for this new deal that must
inevitably come with revival Of mechanical
or manufacturing industry throughout the
country, whether that be sooner or later.
A cheerful acknowledgment of the situation
at once, and willingness to meet employers
in q candid understanding spirit would do
much to hasten this revival 1t would be wise
policy On the part of the workngmen if they
took the initiative in this direction, and secured
compromise in the transition period upon
which we are just entering, that would secure
them employment this winter and bring them
by gradual approaches to the full decline
that must come with q resumption of specie
payments. This would be best attained by
the various labor organization relaxing their
rules SO rs to permit members to enter upon
work on special contracts, each for himself, the
best he could make, without forieting men,
bership. When business shall have resumed
normal condition, and through the friction of
use and employment wages had found their
true level in the new order, the unions might
then resume their supervision and control with
an enlarged experience as to their rights and
privileges in the premises. Workingmen just
now very justly complain that the shrinkage of
values upon which such stress is laid does not
benefit them any: that prices are as high at
the corner grocery store, at the butchers and
bakers that coal is just as dear as ever and
clothing but slightly affected by the panic.
There is too much truth in this The shrink
age spoken Of has not yet reached to the level
of the consumer, but it will come and it is q
note of preparation for what must then newt
ably follow that the above suggestions are
made.