The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-10-14
A DISTRESSING COMPARISON.
Business Conditions Of the Present Con-
trasted with Those of 1892.

American Economist.
A great deal of space Is given in this
weeks issue of the American Economist
TO a report upon the business conditions
OF the United States during the first six
months OF the present year, as compared
with similar conditions existing between
Jan 1 and June 80. 1892.
We have received reports from 800 differ
ent employers Of labor who are able to
find work for $500 fewer hands this year
than in 1892. They paid almost 100000
less money for wages and their output,
or the amount of business which they
transacted. was nearly one-half less than
during the first six months Of 1892.
The average earnings of each wage-earn-
er between Jan. 1 and June 80. 1892, was
$50. The average earnings of each wage
Garner during the corresponding six months
Of this year was s195. Thus there was a
loss of $50 to every one of these inGivid-
uals who were employed.
The analysis of the reports, according
to sections of the country, brings the facts
learned by the investigation more striking
ly home. both to the employer of labor
and the employe. The statements presented
regarding the conditions that have recent
ly existed in the different sections Of the
country 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 compared with 1892. Unfortunate-
ly there are very few cases where there
has been no ~shrinkage, and there was but
one showing an increased business for this
year.
the American Protective Tariff League in
1892 showed that over $40. 900, 900 of money
had been invested in new or enlarged in
dustries within two years. Also that work
had been provided for 1925, additional
hands.
Now we are under the painful necessity
OF showing that $500 people have been de-
Also that those who were at work have
received nearly Ss,OO0,OO less money within
six months than they did two years ago.
1t is further shown that the amount of
business was but 90 per cent. OF that trans
acted in 1892.
A year ago this month we published the
results of our industrial census. This
showed that there had been a decrease in
business within twelve months of Az per
cent; a decrease in wages earned of SO per
cent, and a decrease in the number of
persons employed in factories of about 601a
per cent.
We now have to report a. shrinkage of 30
per cent. in the number of persons en-
ployed; a loss of 45 per cent. in the amount
of wages earned, and of A per cent. in the
output Of industrial establishments. A year
ago the average decrease was recorded as
$3.50 per week in the wages of each en-
ploye, or $61.1O for the half years work.
We now record a loss of $50 for each per-
son for the first sly months work this
year, as compared with the money which
he earned during the same period in 1892.
If we look back still further and COM
pare the present results with the census of
1890, we find on the basis of the reports
that we have received that there were as
many as 1,413,550 idle persons in the country
this year who were actively employed in
1890. We further find that there was more
than one billion dollars less wages earned
than in 1892. We further find that the value
OF the product of the factories has de-
creased by more than five billion dollars
Also that three billion dollars less money
has been paid for material to be used in
manufa ctures.
We cannot but accept as thoroughly re-
liable the information we have received.
and upon which we have based our calcu.
lations. II is extremely painful to us TO
record such a distressful condition of busi-
ness, which must involve pinch;ng and
poverty in most American households.
After these facts have been carefully
studied by every reader and thinker in the
country, We should hardly expect to find
one solitary individual TO advocate a policy
of free trade as against protection to
American labor and American industries.
We trust that the verdict of the people a
month from now will be an Overwhelming
majority against any approach TO free trade
and for the restoration of proper and ade-
quate protection.