The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-10-17
SATURDAY. OCTOBER II, 1909.
TRADE AND LABOR.


1t is plain enough to those who have
read the story of the United States Ship
building Company and kindred organiza-
tons that our so-called captains OF in
dustry are most largely responsible for
the slump in the prices of securities and
the consequent setback to the phenome-
nal prosperity which this country was en-
Toying. The responsibility has been clear
~ proven against them, and they cannot
escape 1t. Some of them have been try
ing to shift their responsibility upon the
labor organizations, but they cannot do
So They are to blame. and they must
suffer the consequences.
Yet 1t is but too true, as we have re-
Gently been endeavoring to show, that the
labor organizations are not without blame.
BY unrea sonabe demands, by strikes, by
rnwise use of their powers, they have
undoubtedly embarrassed certain lines
Of industry, especially the iron trade, and
there is apprehension now in various quar-
tiers that there is more trouble ahead
from this source. The New York Journal
OF Commerce has interviewed leading
bankers in New York city, who are gen.
orally agreed on these two points: First,
that the worst of the Wall Street liqui-
dalton Is over, and, secondly. that the
labor situation, especially in view Of the
approach of the Presidential election year,
is factor to be considered in connection
with any recovery in the general price
OF securities. The Journal of Commerce
in commenting on these views. says that
ii labor combinations continue to act with
blind disregard Of their own interests,
which are necessarily bound UP with
those of the commercial. as well as those
OF the industrial. community, they may
intict serious disasters upon the coun-
try.
The Washington correspondent of the
same paper says that the danger to the
crops is now past. and that a fairly good
crop Is assured in most of tho corn-pro-
drcing States. while the other grain crops
and the cotton crop are safe. But the
correspondent proceeds to say that the
most disquieting feature of the present
situation is the apprehension of unwise
This is natter he goes on, "about
which officials who are generally politi-
clans with an eye to the labor vote have
little to say, yet ie'is causing much anx-
iety. The lack of wisdom that charac
terizes some OF the leaders of trades
unions has been forciby illustrated by
the tying up of the building trades in
different parts of the country. Aside
from the stoppage of work by strikes the
effect of tho high scale of wages that
has been secured by the workmen in the
building trades has been to cause the
postponement Of the many undertakings
that would otherwise have been under
way at present.
son top Of this came strikes, cxtorton
and b!ackmail. and building projects
throughout the country in very large
numbers have been abandoned or post
poned. This, in turn, has affected tho
structural steel industry disastrously, as
has beon evidenced by the decreased earn
irgs Of the manufacturers and the clos
Ing down Of some of the least economical
plants The result Is that the workmen
In one industry are thrown ont of EN-
ployment by the Incorporate and unwisc
action of the workmen who handle the
material manufactured by the FIRST and
the second are themselves deprived of
their wages by their action in making
demands that result in the curtailmcnt OF
industry In their line
With the factories all full! of orders;
with railroads taxed to their utmost ca
pacity to handle traffic: with everything
booming. 1t was but natural that the la,
boring men should demand high wages
Ehould demand fair participation II
tho prosperity of the country, But witt
conditions changed with decreasing
demand for manufactured products; witt
confidence in financial circles more Of
less shaken; with shops shut down; witt
railroads reducing expenses and dscharg
ing hands. sensible tailoring men mus
in their own interests be more conserva
tive in their demands. and exert them
selves with others TO restore confidence
and TO prevent disasters which threaten
Laboring men cannot afford to sepa
tate themselves into class and antag
vEizs other interests. They are part an,
parcel OF the commercial and industrial
system; they are partners in the concern
fol which they work, and there must b
cooperation between employer and EN-
ploye, II the business of the country
to go on uninterrupted and prosperity t
continue.