Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1886-12-01
INDUSTRIAL DEPRESSIONS.
BY SAMPLE H. ORR

Probably the foe most dreaded by work
ingmen IL that series of periodical indus
trial depressions which have swept owe
the various industrial nations of the glob,
some half a dozen times during the last hal
century. These seasons OF depression in
fict a very considerable loss upon thu
manufacturing and mercantile interests
but manifestly impose the greater hard
ships upon wage laborers on account o.
their being less able to sustain the burdens
consequent upon q loss of time. The fact
that in the principal industrial nations o.
the civilized world-United States, Great
Britain, France, Belgium and Germany
these seasons of depression have been
nearly or quite contemporaneous in occur.
renee proves conclusively that there exists
between these nations such intimate bust.
ness relations as make the financial pros
perity OF each dependent upon that Of the
Others.
This ~as exemplified in a most forcible
n by the depression which began in
1882 and is only passing away at the pres
ent time. A great number of eminent men,
both in this country and Europe, have in
~vestigated the subject and expressed their
opinions upon the causes which led to this
depression. The opinions given and the
causes assigned are so varied as to un-
avoidably lead to the conviction that
many independent and widely separated
causes have either assisted to bring about
thedepression or contributed to ~aggravate
its severity. Yet among all the nations
mentioned, whose people present such d.
versitied conditions OF life and habits, we
find substantially the same state of affairs
existing, namely: Trey have gone on in
creasing their manufacturing facilities and
capacity until each is seeking a
market for it's products and is unable to
find it. This is what is termed over.pro.
duction. just here it is worthy of note
that those countries which have adhered to
q protective tariff policy, as the United
States, France and Germany, have Jared
no better as regards the evils resulting from
The depression than have England and
Belgium, pursuing practically a policy of
Tree trade. Those countries where labor
saving machinery has been most extern
'iveIy introduced appear to have suffered
most severely.
Much fault has been found with the use
the term over-production, but it mat
:ers not whether this state of affairs be
Jailed over-production or under-consump-
'lon' so that we understand clearly what
s meant, and that every circumstance
which serves to cripple the consuming
power OF a people, such as financial panics.
allure of crops or loss of employment by
! considerable number of laborers. tends
20 produce the result called over.produe.
ion. When over-production occurs-when
numbers OF intelligent. willing workmen are
'nable to obtain employment, and for this
eason are unable to purchase needed
oods-thus contributing to and aggravat.
ng the general industrial depression, it ia
that there must be something radi-
with our system of civilization. |
ts laws or it's commercial methods. It ia
eedless to say that the laborer oil to-day
better paid, lives better and fares better
han ever before in the worlds history.
his is as it should be, but the laborer
oes not yet receive the compensation to
hich he is justly entitled. By the intro
action OF the factory system and the use
laborsaving inventions, one workman is
ow enabled to accomplish many times az
'uch work as was formerly possible. In
branches NOR than ten times "a
UGH, while in other departments scarcely
ny saving has been effected. Upon the ]
hole it il safe to say that the effective
rec in production OF one laborer is not .
than i've times what it was before the :
q OF steam and machinery. Has the
reaped his share of the bene6ts9 q
not. The general advance in the Z
OF wages has been something substan- 7
u and tangible, while much more of a =