The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1886-05-26
The Industrial Problem.

The first annual report of the COM
missioner of labor covers nearly five
hundred pages, and contains a great
mass of facts, figures and deductions
concerning industrial depressions of the
past and present and their effect upon
labor 1t is shown that the depressions
of the past in the manufacturing ma
tions have been nearly or quite contem-
poraneous in their occurrence. They
were experienced in the United States
in 1914, 1918, 1896, 1887, 1S47, 1857,
1867, 1873, and the present depression
began early in 1882. The extent of the
present industrial depression has not
been so great as the popular mind has
conceived it, but it has been aggravated
in all its features by apprehensiveness
on the part of all classes.
The causes of depression in this coun-
try are varied. Among the chief causes
alleged are falling prices, the rapid in
crease of labor-saving machinery, over
production, variations in cost of pro-
duction and in wages, speculative rail-
road building and MISREPRESENTATION
Related to these is a combination of
coacting causes, among which are men,
toned good crops abroad, the loss of
exports, rapid immigration, decrease Of
the consumption of American cotton in
| Enrnnn in onnnocfinr, with tho
ponding decrease in the United States,
and the cessation of railroad building.
Among the contributory causes are ex-
travagant living and excessive parsi-
mony, speculation in g futures" cor
ners " in food products, foreign capital,
convict labor and foreign contract la
Dor. The banking system may have
something to do with the stringency or
plethora of the money market, but it
has in no way been instrumental in
bringing about the present industrial
depression. The commissioner thinks
that the silver question may have had
some influence in the fiuctuation of
prices, but that it cannot as yet be cited
as an important cause of hard times.
Strikes usually come after the depres
sion begins, and just before the dawn
of prosperity; they are accompaniment
and not causes of depression. The
liquor traffic is admitted to be thor
oughly aggravating feature of all in
dustrial conditions other than of pros
perity but many will be unable to agree
with the commissioner that intemper-
ance cannot be said to cause industrial
depression. 1t may not be one of the
chief causes, but it certainly has NOV
ing influence in creating and sustaining
the depressions. The reduction of
wages is an effect, rather than cause,
of industrial depression.
The question of remedies is next con-
sidered. The commissioner frankly adj
mits that there is no universal panacea,
no absolute remedy for depressions,
but he believes that much can be ac-
complished through legislation for the
mitigation of their severity and the
shortening of their duration. He sug-
gests some remedial agencies, without
any expression of opinion as to their
practicability. With healthy public
opinion behind it, he thinks the law
making power can prevent speculation
in food products, restrict grants of the
public domain, enact uniform bank
ruptcy laws, prevent abuses of the
credit system, regulate transportation
on Just basis, equalize tariff burdens,
guarantee stable currency, restrict
immigration and prohibit the impor-
tation of contract labor, stimulate in
dustrial education, and encourage in.
, dustrial copartnerships and profit-shar.
ing plans or methods. The commits
, sioner does not favor compulsory arbi
) tration, and says that industrial agi
Y tation, in order to be successful in the
! least degree, must be purely voluntary
l on the part of those intending to sub
4 nit their grievances to the decision o
j others" After reading Colonel Wright
y long summary of remedies, we can wei
/, agree with the Rutland Herald tina
O " the old-fashioned doctrine that man,
a things will regulate themselves bette
: than they can beregulated by law seem
# to have gone on a vacation" Prob
l. ably he does not expect that all of hi
e suggestions are practicable, or that al