, 1874-01-07

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arc no longer able to purchase it, and that
thereby large number of weaTers are thrown
cut OF employment. If this duty were reduced,
these smaller establishments could purchase the
imported warn aud continue in business If this
duty were repealed, the filk weayers when ont OF
work could purchase the yarn and manufacture
on their own account.
Conspicuously displayed at the meeting was
the banner prepared for former occasion, on
which was emblezoned in gilt letters, Protec-
ton to Homo Industry" aud all the speakers,
in referring to it, explained that Protection, in
order to protect, should share it's benefits with
The operatives. They therefore demanded OF
Congress protection from the monopoly OF the
protected classes. By al immediate reduction OF
the duty Oh imported silk yarns. Tho severity
OF the tax imposed On the public in the interest
OF the silk manufacturers is understood BY few
It includes sewing ei1x, velvets, ribbons. dress
and piece goods, pongoes and yestings, shaWIs,
hosiery. hnts, cars, bonnet3, laces, braids,
fringes, galloon8. made garments, underwear,
unbreuaA parasols. sunshadcs, buttons, the
endless variety Of trimmings and ornaments
which enter into other manufactures, such as
carriages, harness, saddles, furniture, clothing,
upholstering, and othors. All these are taxed
GO per cent in gold, In tho interest Of few
establishments which get their raw slk FREQ,
and have crushed cut the other branch OF
home industry known as ''throwsters," or
spnners Of yarn. In addition to all this. they
arc further protected by tax Of so per cent on
all goods Of which silk is component part. So
that no person in tho United States Gun buy any
article made Of silk without paying bounty
equal to rs per cent Of its cost in currency nor
can be purchase al article OF cotton or worsted
mixed with silk without paying q Ike bounty Of
GO per cent in currency on it's value.
1t may not be uninteresting to examine what
this business is, to protect which the country is
30 extensively taxed. In 1870, the following
we're the general results Of the whole business
in the United States:
Value Of the whole production. 80 Ca
Cost OF material
Pail Tor wages. !s4.,sso
Capital invested. o@.!,lao
Aaies empioyed OBSERVATION-DISCLOSURES. 1,7H
Ftma1cs emtloyed, ACKNOWLEDGEMENTS. $50
Children employed. ed.........--....-......--. l,5s6
Whole number Of operatives ....... C,Gi3
How much Of the capital reported WAS fcsi-
tious, We cannot say but, allowing it to be ~
stated, and al in cash, the profits, after paying
for material and wages, Was 50, 451, ,s17 or with
in fraction Of SO per cent. Tho whole amount
paid for wages yielded each operative s292 per
year, OF Less than an average Of 81 per week
each Contrasting the earnings Of the human
being for whose benefit Protection is supposed
to have been provided with that OF the capital ne
find that every $500 Of the capital invested in
the silk manufacture earned 1926 in the year,
being So moro than was earned by the men.
women, and children who performed the labor;
or, in other words, Protection has reduced labor
to capitalized value Of $3.50 per head, OF s292
per year, out of which it is to feed and clothe
itself. Tint il the way Protection protects.
The operatives each represent the equivalent of
ss20 capital; and now, since the panic, this has
been reduced by tho absolute discharge .:of one
half the operatives aud the reduction Of tho
wages Of tho other half.