Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1873-11-06
coAhERoE AND LNDUSTRV

~f>~Aat4tu.
Inc Groton Mills. woousockst. mo-,
'i'-' 'hey will run on halftims
al Tue wooden and cotton mills -,
time. -' working on short
ihe Johnstown Steel works are In sc,,,.
f,r -; s'n' a''er temporary suspensien
me manufacture OF oIIciotb b..
oeen ssta oilsned tu Melbourne. win fayo-ah,.
prospects az success. sCF
heush The new furnace of The F.,.-,
Neauins. Pa, is ready TO be blown In >, VII,
not be started. in' IL VIII
me chieopee Mass Manu- iac,urtnq coun
,a - at 'ne FAILS shut down forty of their n,rb,
looms last week -''sn'
hrothers. of Norshwood MP che
employ about 100 han IS In their sboe -
nave suspended for the pre- ent on a,Oount .,
-i''1ss'ii sss.s, SSH z l14lTaTesl
The Writing Paper Manutaornrsrs, ...,
'ica 'icca OF The Connecticut Valley. have vo,ad :.
run haii Tine for two Iron :hs, begInptnz No
venber ls. NO.
one-tnlri OF the looms OF She Hamilton Man
uisciuring Company. Le veil Mass. are w.,
'our' even nss each week till -nine o,clock 10
supply demand for goods.
Further results OF the panic mr.. -. A.,
charge OF workmen In the Jexelry establish.
!nents OF Attleborc. Mass. aud the running a,
iact"fies only four days in the week.
There has been partial suspension of the
snoe factories in Dover. N, H., owing to dim
Guilty experienced by the proprietors in get
hng discounted the long hotes they have to
take. i..r.....s..g..4- = .5-asi,l.- -.
manufacturing interests In Come ecficut ar.
SAID 10 be In "an unfortunate condition r,f-
teen 10 twenty thousand operatives and faetorv
hands have been already thrown ont of EN-.
ployment. '.''-
Five thousand persons are thrown ont ofenn-
ployment by tile suspension or the Harmonv
cotton mills In Cohoes. NY. The pay-rolIs OF
the mills foot up ssOOO0 monthly, IL ia ssId
that the mills will be opened In two weeks
FAX culture is now an important industry
In the northwest. About four thousand acres
We're sown This year ia Marshall county, Iowa.
and In Waterman county. Minn there are
seven Thousand acres against one thousand
last year. The plant also does well In western
/
calittes maksany use Of fthe lint, the produc-
tion of seed being their object. -!-l.-
There are In Manayunk, a supurb of Phila-
delphia, some fifteen or twenty cotton mills
giving employment: to between 5000 and 5000
hands. when running. or these establish
ments all but three have suspended opera.
lions, or are at present negotiating with their
former employees for a resumption of work at
a r o(Nr man Ion,
is that market cannot be found for the goods
after they are manufactured. and the producers
are afraid to risk the W Jrking up Of the raw
material for a prospective trade. The manu-
facturers also forsee decline in the price OF
cotton, and TO make up goods at the present
nigh rate. and attempting to compete with the
mills which will manufacture at the expected
low prices, would prove ruinous.
The Sheffield Steel Manufacturers seem 10
be in some tEsPi5ation as to whether the
worlds homage to Sheffield as the headquar-
ters Of the steel Interest is not being shaken
This country seems to be q strong competitor
for the honor. A Shefneld newspaper men,
tions ruu.or of the removal OF the Sheneld
steel business 10 the United States, and adds
that more than one of the leading Sheffield
steel establishments are engaged or interested
In Pittsburgh or Philadelphia The melting
caqse of this great change appears in the i'm
portant Asct mentioned that Bilboa (Spanish)
ore is teisy I'M ported Into the United States
and made into steel, sta much lower rate til an
Sheffield firms can sell II. Americsn cutlery
In various lines OF gooss has fer q good while
past. successfully competed with t1,s BRITISH
article. but this Is tie first time that Sheffield
has acknowIedgedth that The mantle Is faIling
on othsr shoulders. !ai.i ~ o.
-a
Reason for the Payment OF silver Coin
The Director OF the Mint makes the follow
ing st'tement OF the purpose of the govern
rnent in paying out silver coin. In this as
other countries where gold is the sole standard
or measure of value, silver coins are over-ysl-
ued for the purpose of rendering them mex
portable. They are Manufactured and issued
on the government account. the law, however,
placing directly or Indirectly limit on the
issue to prevent redundancy. II issued in
times Of specie payment beyond the require
pepts OF the public for change. spch coin will
not msiqtain their purchasing power with
standard coins. owing 10 various causes. In
this and ether c9untrieS silver has declined
In value TO a point at which the government
can purchase 1t with gold. nanpfacturs 1t into
small coin pay IL out at fair proft. The gov
eminent has recently purchssad O quantity of
silver bullion sufficient for Its purposes n
ll2}z cents per stand ard ounce, and will man.
uiS,cturs it into coin at the fixed legal rate Of
q 410 cents per ounce. the difference between
the paEehashS SID issuing rate being within
a fractien oitweiTe cents per ounce. or about
Ten aad q half per ssnt. en- the gold coin paid
in purchase. This operation is believed to be
q more profitable one for ths Treasury, and
also more advantageous to the publie in the
present condition OF the money market than
the sale Of gold for legal tender notes. and is
not q scheme for the resumption OF specie
payments. bu, simply acompiiance with the
mlls Laws. A d.llar In United States esrren-
cy VIII $s1.caase little more gold In the
market than a aellar ofsnnali silver coins; thu
dollar will therefore soon ind its level, and
unless there be a rise in both the prices OF goid
aud silver small coin must circulate concur
rently with paper NOR ey. The government
has In the possession of the Assistant Treasur-
er about $4,000 in silver ecin, and at the
Mint aud Assay Ofices. In silver bullion and
coin, about two nitrous. This stock is ample
tor the present. This mode of paying out sill
yer coin will be continued until circumstances
shall dictate contrary course as proper. The
government will exa act the full seignorage re-
qLired by law. but will not undertake TO con-
troll the disposition of coin AFTER 1t is paid out.
Coin will then become the property of holders.
who may do what they please With IL. This
course was not decided upon until IL had been
fully considered by the Secretary Of the Treas
ury. ...rtr r.#
In America worth makes the man. In France
worth makes the woman.
Can the pedigree OF a skye-terrier be traced
up 10 the dog star:
Canada is sending out missionaries TO India
India ought to recipreca,e.
Mrs. Partington says she gets up every
morning atthe shrili cArrion OF the chandelier
: mas in Peoria claims to have stone that
Washington threw at a woodpecSer on his
father's cherry tree, i'
, They say the largest English settlement