The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1874-11-04
THE LABOR DEPt ESSION-Tn 4
CAUSE AND OUR DUTY.


been put on nine hours labor instead of
ten. 1t is known to our readers that the
laborers in the Rensselaer, and. Saratoga rail
road shops are already working eight hours.
the Rutland railroad shops will again be
reduced after December 1st.
A few thoughts have occurred TO us
growing out of these facts. which it were
well for our people to consider. 1t will
not be denied that the whole country has
in greater or less degree been continuous
ly affected by the panic of last year-that
the shock received at that time by the
whole business interests OF the nation has
left its wounds and scars on all our indus
tries.
We are advised every day, in commercial
and financial reports, that money is abund-
ant in the great commercial centres. To
the mere casual reader this may indicate
an easy money market. Financiers will
tell us that it indicates precisely the reverse
of this. Money unused gravitates natural
ly to commercial centres, and when we
find money abundant IN the great cities, it
is well to look for reason for it, and take
heed of the lesson or premonition it i'm
parts. When money is abundant IN New
York why is it e? Is there any other reason
than that the pulsations of the great arter-
les of trade and commerce are feeble that
our national industries are languishng: that
there Is no healthy demand for money from
the great interior which taxes the banks
to their utmost to supply. If trade, enter
prise and business were in healthy condi-
ton, we should find money scarce in our
metropolis and simply because the legti-
mate demands of trade would call for every
dollar of unoccupied capital to move for
ward the mechanical, manufacturing and
agricultural wealth for which the country
is 30 distinguished. If, then, any one has
supposed that an abundant money in the
metropolis means prosperity, let him be disa-
bused. 1t means that the great capitalists
of the country are uncertain of what the
future has in store-that they are unwilling
to risk their money beyond their immediate
control. In other words, and to use nau-
tical illustration, they are " hauling in all
sail and preparing for storm.
We need not attempt to disguise or con-
ceal the fact that the great agricultural,
manufacturing, mechanical and mining in
dustries of the whole country are suffering
from depression which has not had its
parallel in years. We have no great iron
interests, to show to our citizens now great
is this depression which prevails in the
length and breadth of the land. We have
no great cotton and wooden interests which
can bring its cmbarrassments to our very
doors but in all the manufacturing enter.
prises scattered over our state, compare
lively small in the aggregate, to be sure, the
careful observer can see evidences of that
general depression which prevails in the
country. We noticed in Tuesdays GLOBE
the great decline in the past year in thu
prices obtained abroad for many of oul
staple products. 1t has not failed to pro
duce its legitimate effects here.
But all this is preliminary to word t
our readers on the results of this state o
things among our own people.
Rutland is the great growing centre o
business in our state. Hence very larg
number of working men have natural,
congregated here, in the hope of taking ad
vantage of our business enterprise to he'll
themselves to higher and better plane O
living. Many of them have doubtless bee
disappointed and many perhaps unfortun
ate. Some, doubtless, have gathered thei
little all, and risked all to better themselve
and their families. Some have died, lea'
ing to lone mother the care and respons
bilities of dependent family.
1t is customary in some of our churches
perhaps in all, to take up stated contrib
tions for the ''poor of the church." and
seems to us not an inopportunc moment
call the attention of our readers directly I
the fact, that with the approach of winte
and the general stagnation of bushes
which is probable to prevail during the il
clement season, many will need that gel
erous help which our people are SO read
to give, when convinced of its necessit,
1t is well to make this appeal to Il
church but the broader appeal to human
ty and for humanity is what we desire
emphasize in our words to-day
The beautiful October days that ha,
flooded our hills with the almost gold,
warmth and glory of midsummer ha
been very grateful to us all. Novemb
comes to us with the camness and beau
of summers dream. Our hearts 90 o