The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1893-08-28

men who are in, favor of the principle of
protection, instead OF in the hands OF
those who denounce it, / should feel en-
tirely confident that business WOULD be
stagnanf' or remain at a standstllli DuG
when this reformation of the taflH is
III the hands of men opposed to the pres
emit system, those manufactures OF the
country which are built upon the present
system, must necessarily call halt
Ii their goods which they manufacture
are to be in competition with
the manufactures of other lands, where
the cost OF productions is upon II different
basis where labor is differently reward
ed, as q matter Of fact, no manufacturer
in this country will dare to manufac-
tire goods until he knows the basis upon
which his labor is to go into the produc-
ton of his article of sale. Until that
question is settled you may be sure thaG
the manufacturers of this country Will
never. dare to manufacture more than
the absolute necessities Of the people re-
qnire.
Prominent among the symptoms of the
present condition of affairs is the closing
of mills in all parts of the country Inc
currency question has something TO 90
with that, but that which is OF most
Importance is the uncertainty as TO the
basis upon which manufactures are TO
90 on. Manufactures today are, in no
respect, the subjects of chance OF mis-
calculation. All the elements of cost are
so thoroughly understood, all the eie-
ments which enter into production are
so thoroughly comprehended, that 1t IS
impossible for manufactures to go on,
except upon. the basis of small but sure
profits. Unless the manufacturer can see
his way directly to that he has no object
in running his mill, and unless in the
future he can see that that mill can go
On satisfactorily, there is no object ON
earth for him tc continue his manufac-
lures and his organization. Therefore
YOU NAV depend upon it that until the
question is settled, until men know the
terms upon which they are to compete
with foreign competitors, no loom VIII
be in motion more than is necessary and
no wheel will turn except with the pros
pect-of immediate profit.
I will not undertake to dwell at this
present time, for / do not want to con-
fuse the issue, upon those unfortunate
parts of the Democratic programme which
are at present in allegiance, like the es-
Establishment of State banks and other
financial measures, which we may posi-
bly, have to struggle with. L can charac-
terize, in single phrase the cause OF the
present condition of, affairs. 1t is the
Undiscoverable Uncertaintytof the Future
Of both the currency questions and the
questions of protection and revenue tar
if.
1t will be seen from what have said
that do not regard the Sherman act as,
in itself, alone responsible for our pres
emit condition of affairs; that I believe
that the causes of our present disaster
underlie that; that the necessary stop
page of hundreds and thousands of mills
all over this country is at The bottom OF
our disaster. Nevertheless, | do be
lieve that the Sherman act and the ac-
emulation of silver in the Treasury was
the earliest indicator of the disaster
which we are approaching and that it
has played a part not entirely unfortu-
nate in warning us that we can be saved
from still further misfortune and doubt.
We are now, therefore, in this condition
of affairs. We are on a downgrade to
that period of recuperation, economy and
self denial which in some cases, may
lead to very grave and serious suffering,
for there can be no doubt whatever that
the threatening aspect of affairs, while it
threatens this country as whole, capital
istssand laborers alike, issmore especially
in the future threatening to the labor
ing people of the country. When mills
shut down they shut down because they
must ascertain by Democratic legislation
what the basis of their future manufac-
lures is to be-. If their basis is to be
competition with foreign countries upon
less favorable terms, they will be obliged
to meet those less favorable terms by re-
ducing the cost of manufactures them
selves The cost OF manufactures OF the
finest kinds especially is largely in the
paw which is given to laboring men.
AS the gentleman from Mississippi (Mr.
Catchiings) has very candidly, land at
the same time, very accurately, said the
wages Of labor have been steadily rising
in this country until they have reached
point unexampled in the history of the
world up to this time. If the American
manufacturers were to compete alone,
with each other, 1T is possible that
the standard of wages might be main
tanned but if they are to compete with
people abroad, where wages are. less,
where skilled labor is at a much lower
price, then there can be no doubt that
a reduction of the wages of labor will
are signs that that will be the case;
and there are signs also that the wol king
men are recognizing the fact that their
labor is one of the elements, the strongest
element, perhaps, in the cost of produc-
ton, and that the cost of production can
not be measured by any ARBITRARY stand
b bV the On. standard s' of - oomp eoea
Such being the case, we may
expect more or less misfortune to hap
pen to our people.
I do not believe that the Democratic
Congress, even influenced as it will be
by the pressure on the part Of the people
of the United States, will SO revise the
tariff that the workingmen will be
| brought back even to the condition of
| the workmen under the Walker tariff, but
| that there will be doubts and difficulties
and reductions have not the slightest
doubt The capitalist has met with mis-
| .nisfortunes He has seen his stocks,
his bonds, his holdings, and he will soon
see his real estate, reduced beyond any
fear which he entertained a year ago, and
in due time will come the reduction of
the wages of labor, unless by great good
fortune the laboring man, by demon
STATIONS on his part, should show that
he understands this question i'll such a
fashion that he will refuse to allow it to
be misunderstood by his member of Con-
gress.
Now, in this matter l do not expect to
be accused of any party bias, for this
does not in any way involve the question
of the propriety or the righteousness Of
a change In the tariff. Let that be as it
! may. The very fact that there is a
| change requires REIMBURSEMENT all over
| the country of all the relations of man
kind to each other, and such re-adjust-
| ment4cannot take place simultaneously