The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1884-11-27
A Chilly Prospect,

A Chilly Prospect,
The general depression which has fallen
upon business within the past week, has
had the effect Of turning thousands of en-
ployees out of work, at the very commence
ment of what is predicted will be hard
winter. All through the mining and man
nfacturing districts OF the northand east,
reduction Of force, cutting down Of wages,
and stopping of mills is reported ,..aud the
prospect seems to grow darker with each
day The apprehension resulting from IA
change of administration has had a most
damaging effect upon industrial enterprise
and from the outlook at present the end is
not yet. Large orders for glass, iron. build
ing materials, and various fabrics have
| been countermanded since the announce
ment of the result of the political contest
IN New York. and as consequence, force
are bs ing reduced, expenses curtailed, and
not a few instances Of suspension have fol-
lowed. In Philadelphia, 1900 carpet weav-
ers have gone on a strike, because Of a pro-
posed reduction of from 16 to 20 per cent.
in wages. The potter:es of New Jersey
are closing down, or running on half time.
Eighteen hundred hands have been thrown
out of employment by the shutdown OF
the North Chicago Rolling Mills. The
cotton mill owners of New Hampshire
have announced serious reduction of
wages. The glass works, foundries and
rolling mills, of Pittsburg, have made. sim
liar announcements. In Massachusetts,,
various suspensions are reported, and a
general cutting down OF wages has fol-
lowed with the manufacturers who have
concluded to run while longer. These
are but part of the weeks budget which
has wound up with OFT business failures,
striking increase as compared with last
week, when the total was 1885, and the pre-
vious week 214.
The chief reason assigned for this de-
moralization Of trade, is the fear resulting
from the prospective change that will fol-
low the Inauguration of a Democratic
President. Manufacturers are afraid to
do more than provide for the immediate
demand, and buyers are unwilling to risk
the chance of disposing Of extensive stocks.
The prospect of tariff agitation and tariff
reform has had a paralyzing effect upon
industrial endeavor, and the trouble is that
no material change for the better may be
expected until winter is over and the con-
gressional programme is laid out. The
claim of the Revenue reformers, y that
the next House will be even more pro-
nouncedly anti-protective than its prede-
cessor, and that this viii be demonstrated
at the opening Of Congress by the re-elec-
ton OF Carlisle as Speaker, has served to
alarm the business interests and the effect
is being disastrously felt by the operatives.
We believe it was Ex-Governor Spragne
who once said There is only one thug
more cowardly than million dollars-tIlat
is two million dollars Norman ever ut
tered truer sentence. II the capitalists
We're alone affected by this timidity, it
would not be matter of such serious con-
Germ. 1t is the thousands Of operatives
whose daily supply comes through this
easily choked channel that must feel most
keenly the effect of the alarm. To the
capitalist it means a cessation of accumu-
lations. To the laborer it means want of
bread. The one rests on his oars in safe
harbor to watch the gathering storm. The
other must push his frail barque into the
seething pillows to ride the waves or
perish. 1t is useless to say the appre-
hension is unfounded. The apprehension
exists. 1t follows naturally upon the re-
collection of Democratic action in the
House last year, and it is fortified by the
boasts of would-be leaders Of the next
Congress. And until the question is set
tied the feyerlsh state Of trade that now
prevails, will continue and the poor must
be the sufferers. Even in it's most hopeful
aspect, the outlook for the winter is chilly
and the lesson that is taught will not be
soon forgotten. The experience may be
gained through tribulation, but the labor
ing man will one day come to realize that
he has deep personal interest i'll politics
| that is Of far more moment to him than
the filling of public offices by political
atriEnrc