The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-08-22

pr0ductIvo
Glasses between 1865 and 1878 by the Outstanding OF
the army and by the increase of population. while
ooiy 10000 found employ so That l4o 900 were
Mr.. Hswltl-whers are rheyg
Mr.. Moody tsenteniiously)-Echo answers Whsrsf
Mr. Hswit.--rhers are a good many Massachusetts,
in New York.
Mr. Roe wanted TO know n Mr. wright's present
census, taken from the Massachusetts, Bureau OF
Statistics, was correct Mr.. wrght's census only
showed that 2S 900 men were out of work IN Massa-
chusetts add not l40 O00 as claimed by the witnesR
Mr.. Moody denounced Mr. Wright aud his mode q
taking tue census because Mr. Wright had consulted
the police, who only knew about criminals, and the
Board OF Assessors, VINO only knew about the pro-
pre,sry classes. He placed iota.of confidence
Mr.. Hewitt READ IRON Mr. virgins report, showing
that wherever the various authorities OF any town
had differed as 10 the correct figures DO twrghtl al
Mr.. Moody insisted that Wright was all wrong aud
tha, the basis OF the Massachusetts fgures there
were over 7o6, 600 people out oil work IN this c0ua
Try. He pointed out the magnitude Of these figures
wnen II was considered that every man out OF en-
pioyment hve others were depending 1.
Mr. 'Rlce-Five times 3, 700, 900 would make nearly
10000 600. Now do you to say that 49, 600 600
OF PEOPLE In shis country are either mendicants or
beggars?
Mr.. MooDY's cIlMAx
Mr. Moody mean 10 say tins tatter pausel.
mean TO that about hall the people OF the
United States arc suffering IRON insufficient work and
are not earning enoash for decent livelihood.
M Herbert Radcliffe, OF Boston, was the next viii
ness.
Mr. Hewitt What is your protession'
=
Laughtcr Ny present position is that OF tho agent
Of tue Business improvement Society, Of Bosten
@ Have you studied the causes OF the depression Of
labor? / have studied the of the depression
Of business; not 20 much of labor.
Before Nj Radcliffe road his written statement
there was preliminary discussion between him aud
Mr.. Hewitt IN reference TO The ren trade Mr. Hewitt
maintaining thar the IRON production aud consump'
increased in late years. while Mr.. Radcliffe
thought that while tho production might have In
creased the iron probably had gone only 10 the whole
sale houses who had failed and had probably not gone
q
Mr.. Radcliffe now read his stat. mea. which was OF
very general character. He showed the very large
proportion OF failures of savings banks. insurance
companies, &C, which he thought shoud be invest.
gated by Congress- system OF Uniform protection
Mr. Aewut-Do you moan 10 say that the general
government could do that better than the State govern
men.s who are direct creatures OF the people deposit
ing IN the savings banks?
Sir. Radcline-Excuse me: did not say that; l
only meant Congress should Investigate It.
DOSE OF POLITICS.
Mr. Radcliffe then went say that the
ings bangs protected like the national banks there
would not be SO much I'll feeling among the working
classes. He admitted, in answer TO Mr.. Hewitt that
tho experience OF the national insurance compauies
and the Fresdmen's Savings Bank started by Con-
gross not very encouraging. Much OF the business
stagnation he attributed TO the ''boody shirt. Dus
ness aud other sins the rspub, can party Congress
had become vast detective force (Mr Hewitt Iaugned
and so long as Congress would busy itself only with
party advantages instead OF with the welfare OF the
country, no improvement could be expected. No
country could DO happy IN which the rich alone
exempt from taxation ana sought relsi from It in
great blight upon industry.
WHO HOLDS THE BONDS?
Mr.: Hswitt-De you mean 10 say that only the rich
The witness claimed that the majority of the
holders we're rich people. Mr. Hewitt said that the
very large proportion OF bonus certainly was held
by savings banks, widows and orphans
Mr. Radcline-lt Is only recently That bonds have
boon issued in small DENOMINATIONS.
Mr.. Hcwitt-Excuse me; bonds wore issued in de-
nominations $50 since Inc hrst government loan.
r. 4 10
were taxed nobody would take them at par, and the
difference would have TO- be made up by 'axpayers
thing by which taxation was being reduced.
Mr.. Radcliffe criticised the character OF the men
sent 10 Congress, The tar and pointed cut what he
considered would be improvements upon it. He
thought tnat tea aud coffee should be taxed and that
tho duty on tea and coffee should be modelled
English plan, and went into elaborate analysis Of
ths evils OF our tariff system.
Mr. Hewitt said ths committee Was not bore TO
take up tne tartn question, that matter for the
Commities OF Ways and Means. All the committee
could do was 10 report that the tarG OF tho
causes Of tho present business depression, which
every body admitted.
Mr. Hewiti-it would DO very easy 10 answer
you II took up your argument by saying that II you
tax coffee aud tea youta the OF the coun-
try, and tho worKingmen would probably object
Mr. Rice again coniroverted Mr.. Radcins's theory
that government boudh oiders were favored by
ing that mortgage bondholders, for instance after
paying taxes, stil got moro their Investment rhe
witness thought that TO issue TOUR per cent bonds
was inducing ''aot:vs capital - become idle"
locked up how capital idle when the issue
OF tour per cent bonds was simply an exchange for
corresponding six per cents? The witness was non.
piusscd by mrs, insisting was right but finally
admitted that he was wrong.
COMPLAINING OF xR. HEWITT.
Mr. RadsIine advocated an income tax upon stac-
cumnlaed wealth, I" and drew u distinction between
that and "actve capital" which latter he desired 10
Mr.. Hewitt cross-ex,mined him sharply a. to
whore the precise itne of distraction would
be, apd the witness got into some IaughabIe en-
tang elements finally accused Mr. Hewitt OF trying
'to pin him down. and OF mining him like
lawyer. Mr.. Hewitt dscla.med any such intention.
In conclusion the witness said "Now II you have any
more shot, Mr.. Hewitt"
Mr. Hewitt assured him that he had idea of en-
barrassing any witnoss. and tho witness said ia
injured tone, that he had only como 20 mako somo
suggestions, without pretending TO tell Congress to
as a Uongressman," he said win wltherlng satire,
and mournuiy dwclt upon he fact that ne had como
here from Boston at his own expense 10 make these
suggestions which be com planned mad received such
severe treatment nj Mr.. Hewltt's hands.
Mr. W. ). J. smart, another Boston witness, who
SAID no was contracting stonecutter. thought tho
OF manufacturing the great prime dis,
ing cause. Mr Hewitt pointed at tue fact that Eng
land, which a far greater manufacturing country
than Germany, was still suffering much less from the
present state OF dcpresson. Mr.. Smart thought the
crash would ultimately come to England, but moan.
whiie Mr. Howitt claimed the very foundation OF his
fabric was wanting Mr.. Smart believed the centrsl-
cation OF capital In few hands was the great cause OF
depression.
PEW LOGICAL sEouENcEs
MT HewIlt-li property got into lew hands in a
country IN winch tnere was universal sunrago, wnat
DO you think would happen?
witncss--l suppose universal suffrage would abolish
u.
Mr. Hewilt-rhen you that suffrage Is not
sufficiently educated and intelligent Your reliance
Is 10 instruct men tnat they can use the suffrage
for The purpose?
Witness-Yes, sir. u.aughtcr)
Mr.. Rice now took up tho witness TRADE against
property ana capital ny asking him upon what be ex-
pectei TO I've wuen he got old and could no. work
any longer. He replied That system OF compulsory
liie Insurance. should be established ny which very
lnan weud be compelled 10 lay aside and 90 many
cents Of every dollar he carned with winch 10 insure
his old age family. The nation should tske mold
Of all the property and capital tHors Justus Schwab
was so dcghtcd hat he slightly ciapped his hands
Mr. Hewiti-Wno would TX the wagcsY
Mr.. Smart-rhc nation, through rs officers.
Mr.. Hewitt alluded to the many grievous CON-
plants brought even now against Cor grsssmen and
government officers, when they bad such very re-
strctcd spheres vi duties Now, how likely That
they would do any better when their power was so
vastly enlarged, whom tney would NIX every ody's
wages CONDUCT the entire business oil the nation
MreSmart replied that Mr.. Hewitt was aecsIved Ny
basing his calculations upo1 our present system Of