Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1878-08-24
Tfse Labor Question.

| White stated that he had studied the lbancla'
question and lad paid great deal OF attention
TO it. yhco he vas journalist anG since ne re-
tired from journalism. lie thought that inc
nreecni co.nnle!c i#l crisis IS only ono OF series
| that have occurred among pations for the past
zoo wears: and they have been preceded by
rampant syeculaticps In 1873, he thought
that spccuiaions ia railroads had q great deal
| TO 90 with causirg the depression which ez!st
| 3D. There was an enormous speculation ~
lands ali over the country. The prices OF real
estate multiplied beyond anything in the rtcol
lection of the witness Obligations Incurred by
the building Of these railroads and the purchase
of real estate caused many parties to become IN
solvent. The condition OF the currency has not
Increased the state OF things. witness thought.
| We found that these periods of crises came
upon nations, no matter whether their currency
was gold or paper Tie speculative era. which
existed from 1869 to 1873, witness thong ht,
| had something to do with the present condition
| Of affairs Accumulation OF capital, acting upon
the saDgulne temperameuts OF certain race OF
peoplc, would produce speculative era. Over
production by machinery had contributed to do
preston In business, by producing more than
there was demand for, and prices consequently
fell accordingly. Flo did not think that the in
PRODUCTION OF machinery had induced this spec.
ula,iye era and collapse which followed it, Wit
ness agreed with Prof Sumner, that when the
Government would act in employing the uncln'
ploycd, there would be 10 end to demands
made upon it. Ile thought the Government
could not do anything in the mailer. We pro
duced good deal OF gold md silver during the
war that vent abroad and was spent in gun.
poGder, and wGs a loss to the cDuntry. TITS
loss would have to be replaced and would pro-
1oho Irfn iIn
local causes cl depression were Hpacula.iohs in
rarods and real estate, which >scrc only Gil
gagged in 10 this country
lu this country Witness cauld noi say whether
there we're moro debtors than creditors. Every
body was in debt, more or lesl lie had been
looking over list CT l!rGJa who had failed Tor
the past five years, in Dun, Barlow IL 20. 5
books, and lie found that during that time
81, 600 firms had been bankrupt, out ci GSO, 900
firms 90 tho book. he hal discovered 10
method by which these tinancial crises and con-
scauent depression could be stopped. nGr could
ho mako any suggestions about tho matter.
Tho loss which would result from rcpuaiating
tho national debt would fall on every person,
and tho honor OF the Government would DO de-
stroycd II this wer0 done capital would get
out of the way, retire from the country aud one
teutE Of the workingnen would not God Gun
ployment. 1t would mako anhlchy and chaos,
aud the Government would have TO be rcccu
structed. lie though egislation could to somr
extent distribute the products OF labor by taxa.
ton lava, and also by the tariff
lie did not Thick protective tariffs would
raise tho wages OF the working people. 1t
might raise the prices Of some Of the comnod-
| ties to BIO bought Protective tariffs would
stimulate some branches OF business and lead
capital to some extent into It. Witness said he
did not think that the wages Cl the aborInG
classes had been decreased by competition be.
tween countries il producing and exporting.
The wages Of the laboring classes had been
greatly increased during the past two hundred
years. 10 regard to tariff duties. he would ro-
commend that they should be taken off some
of the raw materials. About the middle
men question, witness said that great many
of these had been driven cut Of business aud
went into bankruptcy because they were unoc-
cessary; too mary Of them were 10 business
If there was any surplus OF capital duris.s The
speculative era it bad low retrcated to the
bank vaults. having been driven there BY the
low rate of interest The amounts loaned out
BY the banks were iu great bulk the property
of the community. Wtuess said that BUSINESS
was Injured to great extent by the protective
| tariff. 1t stimulated some manufactures, II il
| was properly laid The accumulation OF capl
| tai has been so great that we had to 60 else.
where to spend it. We had more capital than
We could employ.
Witness said that Limitation ia tho hours of
labor should not be made suti2 to legislation.
| 1t was the direct contradiction OF the functions
of the Government to Interfere with the hours
of labor. 1t was 40 Infringement on some per.
son's liberty. The main object Of the Govcrn-
mcpt was to prevent murders, Tobbc:!ca and
oil deeds of violence.
| Abridgcment Of hours Of labor would trans
| fer portion of the wages OF the employed 10
to the unemployed. Every Legislative attempt
to transfer csptal from itch 70 poor has ro'
suited in this way-that the rich became richer
aud the poor poorer. lie CID uot thInk that
the proceeds of the sale Of public lauds could
be used by the Government fer Colonization
purposes. 1t would be c hazardous tbiag ior
our Government, with its present civil service
system, to take hold OF such Thug, lie did
net tbi1k :bat the surplus population in tie
cities would be concrt TO live on lands III the
| West, and did not suppose they could be drawn
| there with yoke Of Gxer; and even II taken
| there they would not stay on tho !ands. Wit.
ness said be thought the working classes would
be better off under thn trade sysisnl than un-
der the tariff system.
MIR. Charles Il. Adams, jr., Of Quincy, Mase.
| said that nc was the Chairman oi the ltcharua
commission oil Massachusetts,. lie spoke ui
railroad construction, aud said that the exces.
sivc construction led to the present depression
in business. Railroad managers had nothing
to do with the construction Of railroads. and
so had nothing to do With causing depression.
lie thought that railroad managers bad to
great extent relieved or tried to relieve this
depression. lilo did net SEQ how legislation
| cnui hnlD 0r remedy tho nrGscnt dcureSsIOD
The railroad system was engaged III runous
competition, snd this led TO two pninte, and Cue
WAS violent Aucuation aud Discrimination
against localities. lie thought that this could
only be remsdicd by t1ualizlng rates and fares
Tho difficulty in legislation ia railroad matters
has been 50 far that they have applied the
remedy before knowing the disease. lie
doubted if it would be advantageous 10 have
the Federal Government to apply remedies to
the railroad troubles.
| r. ihourht thn manner in which EnrliSh