The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1884-10-27

A PAPER read before the American Asso.
citation for tho Advancement OF Science
recently seeks to show that the irregular.
ity OF railroad building is the chief cause
for the recent business depression. The
article starts out with the assertion that
"All the recipients OF tho money, boil, Ia
borcrs and capitalists, again redistributcd
it among farmers, merchants, bankers and
Others, and the end OF its influence no
man can tell. But the important fact TO
be noted is the employment ut high wages
both OF capital and labor, Of mines, fur
naccs, mills, carpen,crandlnacliine shops,
furniture and, upholstery factories, paint
mills and all the industrial establishments
attendant upon these. Allare kept busy,
all are prosperous. I'i,
As u result OF such prosperity, still
furtlcrprosperiiy. To supply the demand
new mines arc opened, and furnaces, mills,
carpenter aud machine shops are kept
busy, not only in building railroads, but
in building new furnaces, mills, carpenter
and machine shops, which in time become
their competitors. This is not theory,
but statement OF fact which was true,
both in the years 1SG9.73 and 1888. rs
all who arc familiar with the development
Of the iron and steel industry during these
years can testify. in 1881 many OF the
lathcs and planers in the larger machine
shops Of the country were at work produce
ing other Iathes and planers TO equip
new machine shops, and so great de-
mand was there Tor these and other ma
chine tools that some OF the shops were a
year behind in their. orders, and many
machines were imported from England, at
great expense, simply because they could
not be obtained in this country in the
time required. In this way the cxpendi-
tnre OF $500, 100000 in one year in railroad
building caused other expenditures en-
tirely outside Of railroad building, namely,
for the generation by manufacturing cs-
Establishments OF others OF the same kind,
and such a reproduction employed more
labor and increased the apparent prosper
ity." ~,
"In 1S75'more than 200,0O0,000 less were
paid for the building OF railroads than in
1872. In consequence thereof, many
thousands Of men who had been employed
in grading and laying the road, III mining
the coal and the ore in smelling and roll
ing tho iron, and in building The locomo-
tiyes and cars, were thrown out OF en-
ployment. The furnaces, mills and shops
ceased to build new furnaces, mills and
shops, and thereby more men We're thrown
out Of employment. Those thrown out
pressed upon those remaining ard wages
were reduced. Wages being reduced, the
laborer had less money to spend for his
various wants, and his various PROVIDERS
the butcher, baker, shoemaker and tailor
suffered in consequence, and the effect
was felt over the whole CONNER
cial world. Immigration diminished,
production and prices Of iron in
Europe reduced, in sympathy with
those in this country, and Great Britain
was in distress because OF the stoppage Of
her exports to America. Great Britain's
product OF pig iron fell off more that 10
percent in two years, and the product Of
1872 was not equallcd until 1850. Both in
the United States and in England prices
OF iron and steel touched thelowcst figures
ever recorded. ~,
Such was the story Of the years 1s74-7S,
inclusive, L In these five years only 9,05o
miles OF railroad were built, against IS, 0i9
the five years preceding. Nearly $780,.
100000 less must have been paid ior build
ing railroads in the second period OF five
years than in the first, and two.thirds Of
all the men engaged in railroad building
in the first period must have found other
employment or remain unemployed in tho
second" . 'Sgd51t !hl,t, ~ q
The Statistics Of the iron production
show that the production OF rails more
than doubled from lS7S:to 1881 Importa-
tons Of rails increased in; the same year
10 tons to $4,000 tons. pig iron produc-
ton more than doubled IRON, ,1S7Sito 1882.
and immigration increased from 100, 600
in 1877 to 100000 in 1882 ~ 81 fi
We have entered again upon another
period OF depression. 1t is estimated BY
good authority that not more than 1000
miles Of railroad will 10 built in lsSi.s|
This will be $500 miles less than We bnilt
in 1882 At the moderate estimate OF
$4,000 per mile (Which sum is, given rs
moderate by the Railroad. Gd:ttlcl& the
actual cost OF building will be 500, 600, 600
less than in 1882. As in 1875, this diminu.
ton OF the amount OF money spent in rail-
road building means the throwing ont Of |
employment OF thousands, Of men who
were at work in 1852 in grading and :t,,n
neling the road.bed, iii cutting down tho
forests for ties and for material for cars, in
mining the coal and the orc, inv smelling
the iron and rolling the rails y II means
the stoppase Of mines, mills and furnaces,
and the stoppagc 81 building oil new mills
and furnaces. Itsmcans diminished de-
mand for and prices o. materials Of all
kinds, diminished ,importations, and d.
prices md distress in Europe.
All this because too many miles Of railroad
were built in1s70zs3, and too few will be
built in 1SSt-ss 10 keep our furnaces; and
mills twhosc capacity can easily build
1900 miles per year, cmployed.yy.n
~ --9sti
Poor Tennyson is having all sorts OF
trouble with his pecragc. At the, outset
lie lost his robes whom he went TO qualify
) e. i