The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-05-16
MIN SERIOUS PROBLEM WITH
COTTON MILL OWNERS.

THn SERIOUS PROBLEM WITH
A cs0TvNoN MILL OWNERS.
An important meeting Of the owners
ond managers of the cotton mills OF ene
South was held at Charlotte yesterday
10 take into consideration what they
ahould do in the face OF the unp1ece-
aented depression in their business
Dun's report this week said:
"Nothing new can be said OF the COTTON
manufacture, which still lacks demand
enough to lift print cloths above the low
est point ever known, and prices OF othef
grades OF cotton do not improve.
These gentlemen as rule are the
States most progressive citizens. Many
OF them have made their enterprises sue
cessful by long years of hard work. All
OF them give employment to large
number Of men, women and children.
Their brains and capital have converted
villages into towns and cities; harnessed
unused water powers; added largely 10
tho taxable wealth of the State; and IN
many ways been the leaders of the IN
dustrial progress that has given Nortn
Carolina first place in the South IN the
number Of cotton mills.
The depression in this leading indus
try, which is grave enough to can To-
gether the officers from all sections OF the
South is a serious matter to thousands
Of families. Primarily it is frought with
serious consequence to the men who have
their money invested and those who are
employed. The capitalist must have
return for his money, or he must go back
ward. The mechanics and operatives In
the factories must have labor or they
cannot support their families. Whole
communities that depend upon owners
and employees for trade have deep
concern. Running the factories means
bread and meat for all these classes;
shutting them down, means hard times
and deprivation. The owners OF the mills
have not only personal pecuniary
interest in running on full time, but they
also are DESTROYS of giving steady en-
ployment to their operatives. In previous
times of depression we have known few
owners to run their mills at a loss for
short time because they hated to see their
operatives thrown out Of employment. VI
course such help could not last long.
We write without knowing what action
the mill men will take. We sincerely
hope that the meeting at Charlotte can
arrange to keep the mills running right
along. 1t will be a great calamity II
they should be idle when there are so
many hands willing to work and SO
many mouths to feed, dependent upon
the operation of these mills. The price
of cotton, as evidenced by our telegraphic
market reports few days ago, is also in
some measure affected by the decision OF
the mill owners.
It is a matter Of profound regret that
this leading industry should halt or stand
still when there are more people needing
the products Of the mills than ever be-
fore in the worlds history. The fact OF
this depression is a proof Of sad kind
that the prosperity promised us II Nc
Kinley was elected has failed to materl-
alize. Those cotton mill managers, who
quit the Democratic party under theplaus-
able promise that McKinley's election
would start the spindles, must now re-
alize that they are the victims or
shrewd gold brick swindle. Those mill
men. who declined to be scared into sup
port of the goldbug candidate, who IS
the creature of trust syndicate, are JUS
tilted in their action.
It was always unreasonable TO suppose
that il the people are too poor to buy
manufactured goods they can buy more IL
the volume Of money is reduced. IL was
equally as absurd to believe that the
mills can increase their sales by a tari1
that will increase the price to the con.
sumner. The reason the manufacture OF
cotton has reached ''the lowest point
ever known is because the gold stand
ard and high tariff have Impoverished
the people to the extent that they cannon
buy. There may he occasional spurts OF
business activity under present laws
but the manufacturers OF cotton goods
will every now and then be confronted
with the present evils until there IS a
radical change in our financial and tax
ing policies.
The gold standard kills the goose tha
lays the golden eggs, as - now apparen
to the cotton manufacturers.