The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-11-05
A BLOW TO OLD ENGLAND.

Washington. November 3.-The industrial
and commercial prosperity Of England Ia
now In tho greatest peril Last year was
the most prosperous In the history OF Great
Britain, and until the LIST Of July. the pres.
ent year promised to surpaas 1t In SOM
gnerce and manufactures, but several impor
tant causes have int,rvencd to change the
conditions, and at present the outlook IL
very discouraglng.
The first interruption OF commercial and
industrial prosperity was caused by the
stationary engineers, who struck for an
eight hour day about the Isl OF July, or 10
be more accurate, for forty eight hours
week, with half holiday on Saturday.
They selected a time when the most of the
manufacturing establishments mills, foun-
dries and shipyards had large contracts at
profitable prices and expected that their
employers would be compelled to yield at
once. But they were mistaken. The en-
ployers organized an association Ger resist
ance and have been lighting desperately
against great odds. rhc sympathy OF the
public and laborilg classes gen srally has
been with the engineers, aud thcy have re.
celved financial assistance amounting 10
several hundreds OF thousands OF dollars
from the ether trades. At the same time
their strike has thrown out of employment
a great many persons by closing mills and
shops that can not be run without epgi-
reeis. The result is that more than $780,
900 people have been out of employment
since carly in July from this cause, aud
there semes to be no immediate prospect OF
a settlement Whatever advantage there
has been thus far is IN favor of the EN-
ployers, for although they have lost
great deal of business and a corresponding
amount Of money, they have means which
they can live upon, while the engineers and
the allied trades have been forced to with
draw their savings from the savings banks.
and are very nearly at the end OF their re-
sources
In the midet of this turmoil strike OF
three or four hundred thousand operatives
In the cotton factories Is threatened be-
cause of a reduction Of 3 per cent all
around in wages, which has been ordered
in nearly all the mills in England. The
manufacturers explain that this reduction
is imperative because of the exigencies Of
the trade. and 1t is expected that the OPP
eratives in the wooden mills throughout
England Will receive similar notice during
the present week. The principal causes of
this reduction in wages are the high duties
recently imposed upon foreign made fab
RIGS by the United States and the decline
in The value of silver money, when has
paralyzed the expert trade with India the
Central and South American republics, the
East and West Indies and other silver
standard countries. which constitute the
largest markets for British exports
Under the tariff OF 1894 British cotton and
wooden manufacturers, by reason Of the
low wages of their operatives, were able to
Pay the duty and compete on even terms
with the manufacturers OF the United
States, but the increase IN duties by the
pingley law has compelled them 10 curtail
the cost of manufacture In order TO reach
this market During the fiscal year ended
Jure 30 1897. cotton cloth TO the value OF
S3i.OOOGOO was imported into She United
states, and other manufactures of cotton
amounting to half as much more. At the
same time wooden goods 10 the value of
S5O,OOo,000 or moro were imported The
greater part of both from England. The
Increased duty knocks this traie into con-
fusion. and the manufacturers are com.
PEELED to adjust themselves to the new con-
dstions and ask their operatives TO shnre
the LOSSES. The continual ieclne In the
value OF silver has demoralized the trade
between Great Britain and the silver-using
nations In similar maner and they are
goods.
The operatives do not understand the
situation and It will be sad lesson II
they are compelled to learn it by a strike
The engineers had much stronger grounds
to fight on than the cotton and wooden OPP
eretves. as there has been tendency
toward an eight hour day in England
Tor several years. as in the United States.
and il has been demonstrated that the
average mechanic can accomplish as much
| In eight hours Ms in nine. The fact that
| the cotton ana wooden manufacturers must
| cut down their cost of production in or
| der to keep their markets has become
| equally apparent to all who know the
trade. although 1t has not been appre
ciated by the average operative, whose in
| telligence and knowledge of current events
| is not equal to those people OF the same
class in the United States To turn the
weavers and spinners and other employees
OF the textile trades into the streets with
winter approaching is desperate remedy
and will be fearful blow to the pros
perity Of England.
| All this bears upon the silver question
and Will advance the cause OF bimesallism
more than any verbal arguments that can
| be offered. A sentiment in favor OF bimet-
allism by an international agreement has
been growing very rapidly among the
manufacturing industries and the labor
| leaders Of Great Britain. chiefly because
OF their experience In the export trade
with siiver-usng nations While the mar
ket price OF nearly all varieties and grades
of merchandise is considerably lower in
| England than ever before, as In the United
| States the reduction has not kept pace
with the decline Of silver, and the pur-
| chasing power OF the local currency in
| India and Central and South America is
less than It used to be- That is, man
who receives his wages or the price Of
| his produce in silver, as everybody in these
countries Is compelled to do, is able to
| buy no more thfn half as much as formerly
with the same income. md TO keep up
| their trade the British manufacturers have
exercised every ingenuity possible with
| cut great success. They have been con-
| WINGED that their only hope is in securing
| some international arrangement by which
| the rates o, exchange may be decreased
and made stable and fixed parity be-
| tween gold and silver established. They
| realize that this can only he done by a
| modification cf the fiscal policy az the