Mower County transcript. [volume] (Lansing, Minn.) 1868-1915, 1877-01-11

scented q good speculation and bought
the factory and tools for $4,000. A
new com 2any, ''The American Watch
Company, WAS formed, with a capi.
tai of 5000, 600, which was increased to
100000 before the war which put on
foot 4 million of soldiers, and as every
man wanted Il watch, there was great
animation in the watch business. At
this juncture, which might have been
lucky one for our industry. we fail
ed to comprehend our real interests.
Instead of sending good watches to
the Americans, the worst trash was
sent. The Americans, however, went
to work on an entirely different plan.
The company increased their plant and
turned out better ordinary watch
than the Swiss watch. At the end of
several years the American watch en-
joyed a good repution, while ours were
discredited everywhere. In 1865, the
capital was increased to $3.50, ,OOJ, and
the operations of the company grew to
immense proportions. The Waltham
| company give employment to 900 work.
men and make about 425 movements
per day. They have again increased
tteir capital, till it amounts to 81 ,500,-
0OO, beside $500, 900 as 4 reserve fund.
This watch factory is Il real power;
there is none like it in EuroOe. We
nave seen it in all its details, and we
have admired it's splendid organiZa-
ton.
Last May, on the eve Of the Exhibi-
ton, we still seemed master of the
situation. One event, however, dealt
pany announced reduction Of from 40
to so per cent. on prices already lower
than their rivals, the reduction to date
back to Jan. |, 1876. 1t is unnecessary
| to tell you, gentlemen, how very det-
rimental this was to the Swiss watch.
Still another and more important rca-
son explains the growing prosperity of
the American Company. Their tools
work so regularly, that all parts Of the
watch may be interchanged, by SIM
pie order on 4 postal card, without
necessitating from forwarding of the
ing piece.
The question has often been asked,
can the Americans sufficiently supply
the demand of their market Yes,
they can; we are driven out of the
American market. In 1860 the Amer
lean Companies produced only $4,000
watches. To-day, they produce $780,
600, which can be easily doubled. We
s,nt to the United States in 1872, 3o6,-
900 watches. In 1876 we shall barely
send them Is, 900 watches. The Amer
leans have have already begun to send
their manufactures to Europe. In Eng
land they sell annually from 10000 to
10000 watches. The American watch
commences to drive from the English
market the Swiss watch and even the
English watch.
The Americans began by creating Il
demand for their goods in the Indies
and in Australia, and then-thanks to
some powerful importing houses
they invaded England. At Moscow
and St Petersburgh they have already
established important branch offices.
Their aim is to drive us first out of
their own country, and then to COM
pete With us OH our own soil. I sim
cerely confess that I personally have
doubted that competition. But now
l have seen-I have felt it--and am
terrified by the danger to which our
industry is exposed. Besides, am
not the only one to think so; the So
ciete Intercantonale have sent dele.
gate to make inquiries, and his report
perfectly agrees with mine. Up to this
very day we have believed America to
be dependent upon Europe, We have
been mistaken. The Americans will
send us their products since we cannot
send them our own. Their importa-
tion is not confined to watches alone.
Already America has commenced to
send cotton goods to England, which
hitherto monopolized that article in
the markets of the world.
Can the Americans maintain their
prices! Yes, they can, for if they OBJ
tain good profit on their superior
quality goods, they can afford to be
satisfied with Il smaller profit on the
lower grades of watches. In America,
everything is made by machinery
here we make everything by hand.
IN Switzerland 10000 workmen make,
on an average, each 40 watches per
annum. In the United States, the av-
erage is about $50 watches. There.
fore the machinery produces three and
lllSIl W AOltA lllO1C UAl(tu CilC
wOrkmen.
Had the Philadelphia Exhibition ta-
ken place five years later, we should
have been totally annihilated without
knowing whence nor how we received
the terrible blow. We have believed
ourselves masters of the situation,
when we really have been on volcano.
And, to-day, we must actually struggle
if we do not want to encounter, in all
the markets, that rival manufacture.
For a long time we have hoped that
the customs duties, amounting to 25
per cent, might be reduced. We cam
not count upon it. America needs all
her resources, and whether Democrats
or Republicans be in power, we cannot
hope for a reduction of import duties.
We must, therefore, make up our minds
to lose the American market. Tt has
been complacently said. that the Amer.
leans do not make the entire watch,
but are dependent upon Switzerland
for several parts of the watch. This
is Il mistake. The Waltham Company
make the entire watch from the first
screw to the case and dial. 1t would
even be difficult for them to use our
products, so great is the regularity, so
minute the precision with which their
machines work.
They arrive at the regulation of the
watches-so to say-without having
ZEN it. When the watch isgiven o..the
adjuster, the foreman delivers to him
the corresponding hair-spring, and
the watch is regulated. Sensation
among the audience.] Here is what l
have seen, gentlemen! asked from
the director of the Waltham Company
a watch of the fifth grade. A large
safe was open before me ; at random
Il took watch out of it and fastened
it to my chain. The director having
asked me to let him have the watch for
two or three days, so as to observe its
motion, l answered, "On the Contrry,
persist in wearing it just as it is to
obtain an exact idea of your manufac-
ture." At Paris, set my watch by a
regulator on the Boulevard ,and on the
sixth day l observed that it had varied