Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1877-08-23

its course some Of the largest and
wealthiest manufacturing concerns had
to succumb to the severe reaction,
while operatives suffered In the great
est degree by the Increased supply Of
labor and greatly diminished prices.
THE IRON TRADE
in England has fallen nearly fifty per
cent. The Belgian iron trade was al
most sxtinguished and the workmen
employed were driven to other pur-
suits. This industry is the one that has
suffered most in our own country,
while we are rapidly recovering by un-
bounded natural resources, and by re-
duced cost of production. have be-
fore me an English paper showing that
the exports of Manchester OF cotton
fabrics, especially to the United States.
have been largely reduced. The
amount of cotton goods shipped to this
country has been reduced In five years
from 129 600, 600 yards to SO, ,0O0, 900
yards; of woolen goods from 10000
yards to ,478, 600 yards, while our own
production has enormously increased,
and we are now exporting both cotton
and woolens. In Germany, of thirty
two ompanies enumerated in q table
1 have before me, only ak show any
dividend whatever for the last year and
the aggregate accounts show loss of
81 800, 600 on the years operations. OF
the silk trade in France, which is one
of the great branches of their industry,
it appears, from q paper l have before
me, that there are about $4,000 silk
looms at Lyons, and nearly half OF
4 L n In Tk,n af
weavers now out Of employment is
estimated at from twelve to fifteen
thousand. l might follow these gen.
eral statements by picturing the dis
tress in all these great and rich coun-
tries, compared with which the great
est suffering of our people is insignifi-
cant.
WITH US THE WORST Is OVER,
end the vast industry which gives en-
ployment TO the great body of our peo-
ples-that of agriculture, is now ex-
tremsly prosperous. 1t is common
saying that "the farmers are growing
rich," and as they grow rich other in
dustries will thrive, and trade revive.
To attribute the distresses, which /
know you suffer in common with the
hCol vi W ChuoCo
out of the Administration of our Gov
|ernment, is extreme folly. Unlike the
laws Of most European countries, our
laws are framed, as far as possible, to
promote industry, to protect labor and
distribute wealth. Here We give to
every man the same privileges, civil
and political, whether he be rich or
poor, or whatever may be his condi
tiOn. He must enter into competition
with others, but he has no discrimina-
tions against him. The remedy for
peoiOdical depressiOns no human mind
can point out or administer. That
must be the result OF time, industry, of
economy. No doubt soon,
INDUSTRY WILL REVIVE,
and we may expect q season of pros
perity. The poor do not suffer alone
from hard times. The first blow must
fall upon those who have property in
vestments, which are swept away, and
then the evil falls upon all classes
alike. All that you can ask of the
Government is that it will administer
the limited powers conferred upon it
with the same intelligence and econO-
my that you would expect of private
citizens, doing all it can within limited
powers to confer the greatest good upon
the greatest number. This, l believe,
is now being done by the National
Government.