The Republican journal. [volume] (Belfast, Me.) 1829-current, 1882-04-13
Profits of Labor and of Capital

A. to the profits of capitalists in manufacture
ing industries IN this country, they are grossly
ml>reprcSented and oycrstated by free traders.
They have their seasons of large profits, also
their seasons of loss. The average profits for
several years tells the story of their gains Per-
haps the Pacific Mills have paid dividends of
twenty per cent We know nothing of the
facts, but have doubts about the correctness Of
the statement. If they We're making that profit,
why shut them down: Idle factories can earn
nothing. When the wheels stop, dividends stop
also, and money goes out instead of coming into
The pockets of capitalists
senator Frye very etfectually disposed of as
sertlons Of this kind made by Mr.. Beck in the
senate the other day, who placed the profits Of
manufactures at cXtravagant figures. Mr.. FRYE
showed him and the Senate wherein he had
omitted large items in the expense of industries
Which he cited, the addition of which made /,
vast difference in the computation of profits.
MI. FRYE closed by making the following state
ment, Which placed the matter in its true light
from practical and honest standpoint, and left
ms free trade opponent a wiser if not more
honest advocate of the fallacv of Democratic
free trade. Mr. Frye said
Let me say TO the distinguished Senator from
kentucky that | know something about wooden
mills. When was boy about IA years old my
father announced to he that | was to 90 to col
lcge. ! announced to him that / was not going.
lie ran about the first wooden mill in Maine.
lie said. Very well: if YOU are not going to
''il'S II IL al ltSIll. Dul Illt next M0nUaN
morning when the bell rang 1--WE worked twelve
hours day them found had pair of over
aI> and one of the blue jackets the workmen
Wore; and went into the mill !; l Went into the
picker and | worked on the picker six months:
then | went up and told Colonel FRYE that /
was willing to 90 to college; and he paid my
bills for my work and went to college. know
something about wooden mills. and that one es-
pocially. 1t was about the first wooden mill
started in Maine. 1t continued under the hands
OF one agent for fOrty-twO Years. He was d
careful, prudent agent, and understood his bus
mess from the picker right up through every
room. lie never wasted cent During the
fortv-two years he met with no heavy losses of
any amount. He closed up his manufacturing
about four years ago, having arrived at that
time of life when il becomes irksome to work
As matter Of curiosity sat down and tigur-
ed out the profits of that wooden mill, the most
successful that ever was run in the State of
Maine. the only one. think, that had not fail
ed and the most of them fail over and over
again. 1T was the most successful wooden
mill III my knowledge, and the profits of that
WOODEN mill for the forty-tWo Years Were about
l. mills less than & per cent per annum Thir-
ty-thrce per cent. says the distinguished Senator
from Kentucky. is the profit of wooden mills.
Sir let me repeat that the cotton manufacturers
and wooden manufacturers of New England are
entirely content to-day with : per cent profit,
and regard ii as successful business if they make
that.