The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1884-12-18


nd there suspended furnaces and facto-
les have resumed work. but where this Is
he east in one instance there are half
oxen or more which were in active opera
ion month ago, that are now silent. |
Ne are not disposed to attribute this to
NY particular cause and especially to the |
esult of the Presidential election. That |
las had its influence. not so much from
OF any views that the sue
.essful candidate may entertain on eco
ionic questions affecting administration.
IS from the record of the party which
claims to haze elected him. Present con-
litions were pointed out during the pro-
sress of the canvass as the probable effect
If Democratic success. in the light OF the
position OF that party i'll Congress at the
asst session on the tariff question. What
was then predicted is now being realized,
and while there are other causes to be as
signed which have worked out the results
before US, it cannot be denied that the dis
trust Of capital in the safety of Demo-
cratic theories and policies, has been an
important factor in disturbing industrial
relations. In the great iron centres OF
Philadelphia and Pittsburg the depression
in trade and suspension of works Is phe-
nomenal. In the former city alone 1t is
estimated that 60 900 men, representing
three hundred thousand people dependent
upon them, are out of employment, who,
six weeks ago were earning good wages.
In Pittshurg and Wheelinga similar con-
dition of things exists. Throughout all
the manufacturing districts OF the East
aud West there has been reduction OF
wages in the works which continue i'll OPP
Grafton, while u large proportion OF them
have shut down. 1t is useless to endeayor
to conceal these facts. They exist and
have to be considered. whatever the cause
which has brought them about. They are
not pleasant to contemplate, and we are
sure it would be more agreeable to chron.
lcle different state of things, for we see
trouble ahead, il there is not some change
in the conditions which have produced
them.
Recently there was a meeting in Pitts
burg of trade union officers, which re-
suited in decision to organize fedora
ton Of all the trade unions III Pennsyiva-
MIA. 1t viii start Syith an immense menu
bership. and all tr3 les viii be represented
it. That it will assume the proportions OF
a national organization we have not the
least doubt. 1t may imply direct COLI
fict between capital and labor, upon the
assumption that the reduction OF wage
now going on through all the manu1actur'
ing districts, is not justified. and that II
is a concerted movement to deprive aDoi
OF its legitimate rewards. When such
movements are started. we may look loi
the results of bad feeling, lnjudicious ac'
ton and unfriendly relations to grow III
between interests mutually dependent and
which should work in harmony as the es
sential method Of reciprocal benefits,
These things cannot be ''whistled down
the wind, They have their growth ant
manifestation in causes, and these causes
ought to be looked into, and if possible
removed. They may not reach to the
South. where the conditions are different
| industrial projects limited and the inter
ests affected circumscribed. The result
indeed. may be to drive capital and enter
prise to this section. But neither the
South nor any other portion of the unior
can expect immunity from the prcstra
tion Of industries in the great manufac
turing districts of the country Tht
wake will beat upon US as we'll as thu
| North. 1t will affect values here rs Il
Ldoes there. and be more severely felt, In
deed. where created wealth IS not as abun
dant as 1t is in the North, for where they
have reserve of this kind. they are the bet
ter able to stand it..
| Democratic enthusiasm over an acciden
| tai success, in no way implying pubnt
confidence in that party, or distrust OF thu
Republican party, ought not to carry thu
reason away from the conditions which
confront us. or ignore the logic OF the sit
uation. Bonfres and sky-rockets may dt
| for passing amusement, and extrayaSan'
expletiyes serve to express the pen1
up delight of party that has faller
heir to unexpected and undeserye(
success, but these should not be USED
to mislead the people and assure then
of promise that is not warranted BY
the fact. There is, indeed, nothing
| in the situation which justiiies rosy pic
ture for the near future. No process Of
legitimate reason can evolve comfort
and confidence from the conditions which
surround us, or give assurance of change
| for the better for some time to come. We
have to recognize that stagnation prevails
throughout the greater part Of the indus
trial districts of the conntry-that y part,
| is soon to pass to the control of the gov
eminent which has opposed every measure
that has brought about our marvellous
national growth and prosperity-that its
record is hostile to American industry and
| American labor-that it has opposed the
| legislation that has given us an unsur.
passed, if not unequalled, financial system
that it has opposed the policy that has
| invited capital and enterprise into our di
versiiied industries, and antagonized ever,
law that has contributed to our national
prosperity-that its craftsmanship, in
short. has been compressed into one word
-Opposition Until its policy is defined
distrust, TO greater or less degree, mnst
necessarily possess the popular mind. and
until this is removed. whether by the ut.
terances of the President elect in his in
aueural address, where his policy may and
ought tcbe outlined, or the later action of
the Democratic party in Congress, there is
no reason to believe there viii be Il general
revival of business or that assurance to
capital that will inspire the confidence es-
sentlal to its active and enlarged opera
estions in industrial pursuits. Until such
confidence is created, capital will be eau
tious to timidity and prefer the strong
vaults to the channels of fiuctuatiDg trade.
The created values of the country viii dis
pei all apprehension of what is called a
panic. Wealth is too generally diffused
and of too substantial character to adj
milf of fear of any serious financial reyul.