The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-06-04
CAPITAL AND LABOR.
Both Idle While the Tariff Re,
mains in Doubt
MEN AND MONEY PLENTIFUL.


In answer to question oy PoSr-INrEL-
LaGxxcEa reporter Saturday as to the
actual condition of the money market at
the present time, President Furth, Of the
Puget Sound National bank. said:
.The idea that there Ii scarcity Of
money II erroneous. Here in this city.
and in all the cities on the Coast, the banks
have idle money. The banks in the East
have also. The fact IL there ID no demand
for it IN the regular channels Of trade. l
do not mean to say there il NO demand for
money, for Of course there 10 always de-
mand in speculative channels, bus there
the element Of risk Is too great at the pres
ent time, % there 10 no inducement to
make loans in these channels. But when
say there 10 no demand for money in the
regular channels Of trade, I mean that
good responsible wholesalers and manu-
facturers are not borrowing The reason
Of this certainly II that they are not buy
inR goods nor making any. because they
do not feel like takiag the risk Of having
their goods deprecated in price in the
event OF reduction in the tariff.
"Now, that il an actual fact; this 10 the
condition that exists, and it does not make
any difference what anybody says to the
stand this by looking back 1t the condi-
tions produced BY the apprshepded pass
age of the Mckinley bill When 1t be-
came apparent that the duty would Be
advanced under that bill the importers
and dealers Immediately began laying in
big stocks Of the goods the duty on which
WAS to b sdvanced. Immense quantities
of tin and other goods were shipped in,
and every dealer, no matter how small,
made heavier purchases. Now, " that was
the effect produced BY an apprehension Of
an advance in the tariff, il certainly fol-
lows that the opposite would result from
the apprehension Of . reduction.
I'VE are NO worss OF here than they are
in the East The same condition prevails
all over. and there can b no improvement
until the tariff question II settled. ! do
not anticipate much improvement here
before next year. There may be . little
when the crops begin moving, but it Is not
likely to BE- very marked"
Day after day . crowd OF men, members
of various trades unions who have long
been out of work, industrious, sober
and intelligent. congrsgats about tho
halls OF the Western Central Labor
Union and while the time away
playing cards. checkers or other games;
talking over this, that and the other
phase Of the social problem. or sit in the
library reading. To one who is familiar
with these men; who knows their habits
Of life and their ambition to act the part
of men, and who knows how anxious
nearly every one of them Is 10 find some
thing TO do--anything At which he can
support his family, ~ most Of them have
families depending on them-it is sad
reflection on the prevailing condition Of
things.
Dull a. things are In the shipping bust
ness. the class Of labor that finds steadiest
employment now are the railroad and
steamboat men. Only about thirty union
sailors are ashore here now. Many OF
those who had been here for some time
have gone out fishing. But few marine
firemsn are idle, and the deckhands are
fairly we'll employed. Things are Stacker
with the longshoremen tnan with any
other class Of labor on the water 'front.'
. The building trades are suffering worst
of all. Everything 10 at standstill with
them. and there are no prospects Of any
improvement. Quite number will find
employment on the state university build
ing, but they will DO but . drop in the
bucket compared to the number of idle
men seeking employment in the various
building trades.
II is said that O. r. Carter will soon start
. trades union paper.