The Providence news. (Providence [R.I.]) 1891-1906, 1894-10-11
WHAT OTHERS ARE SAYING.
Business Conditions.
American Economist

| "A great deal OF space is given In this weeks
issue or The American Economist to n report
upon the business conditions of the United
states during the first six months OF the
present year, as compared with similar con.
ditlons existing between January / and June
| 80. 1892 'N''
we nave received reports from SEQ different
employers or labor who are able 20 find WORK
Ior @"soo fewer hands this year than I'm ls9s
ihey paid almost Ss,0OO0OO less money for
wages and their output, or the amount NJ
business which they transacted, was nearly
one-half less than during the first six months
of 1892 A'
Inc average earnings of each wage Garner
between January and June 81, 1882 was 500
Ihe average earnings of each wage Garner
during the corresponding six months of this
year was Sl95. Thus there was loss of sb5 to
every one of these individuals who were am.
poyed.
Inc analysis of the reports. according IN
sections OF the country, brings the facts
learned by the investigation more strikinglv
home, both to the employer of labor and the
employee. The statements presented regard
ing the conditions that have recently existed
In the different sections of the conntry are
also extremely interesting.
A valuable tabulated exhibit is that which
shows the per cent. of business that was done
by each separate industry this year as com.
pared with 1892. Unfortunately there are very
Few cases where there has been no shrnkaye
and there was but one showing an increased |
business for this year.
The Mckinley Census that was taken NV |
the American Protective Tariff League in
Issz showed that over s4000O.O00 or money had |
oeen invested In new or enlarged industries
within two years Also that work had been
provided for 37,2s5 additional hands.
Now we are under the painful necessity of
showing that 20,s0O people were deprived of
work In S2V different industries. Also that
hose who were at work have received nearly
'ight million dollars less money within six
months than they did two years ago. Il is
urther SHOWN that the amount OF business WAS
'ut % per cent. of that transacted i'm Ise2.
year ago this month we published the re-
ults or onr Industrial Census. This sbowed
nat there had been decrease In business
'itnin IL months OF az per cent; a decrease
wages earned OF ~ per cent and a decrease
. the number OF persons employed in facto-
les Of about 6OIs per cent.
I'VE now have 20 report a sbrinkae. =, n,
emu IN 'ne NUMBER OF persons employed; a
- " y" ~ NVHts Tue amount of wapea
armed. aud of ~ per cent. in the outnut ~ a.
ustrial establishments. A year ayo ,h.
veragc decrease was recorded as a. az nor
eek In the wages OF each employee. or ssi ~
" the half years work. We now record
ss OF $50 for each person for the ers, s,v
onth's work this year as compared with IN.
oney which he earned during the same A
,riod in 1892.
III we look back still further and eomr.r.
. present results with the census OF Iso,
hnd' on the basis Of the reports that wa
I'VE received. that there were as m.nv
1850 idle persons in the coun,rv p
is year who were actively employod =,
1880. We further find that ,h.r.
rs more that one billion dollars less w.s..
rned than In 1892 We further flnd tha, the =
iue of the product of the factories has do.
sased by more than hye billion doII.r.
so that three billion dollars less mon.v bss
en- paid for material TO be used In manufac-
res.
We cannot but accept as thoroughly relisbl. 4
Information we have received, and unon
ich We have based our calculations \, 4.
remely painful 10 rs TO record such a dis. =
ssful condition Of business. which mu., VI
olive pinching and poverty IN most Amer
households.
fter these facts have been earsfulI< .,.as.a
Ns's reader aud thinker IN the esuntry. Z