Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1903-10-10
SATURDAY, OCT. 10, 1903.
WIDELY DIFFUsED PROSPERITY.

WIDELY SEDPROSPERITY.
The September bulletin of the New
York state department of labor is of un-
usual interest because of the fact that
if the industries of any state in the
union have felt the effects of the stock
depression in Wall street those of New
York would be likely to respond more
quickly and to a more marked degree
to that depression than others located
in territory more remote from the CEN
ter of trouble. A careful perusal of
the bulletin, however, does not dis
close any bad effects suffered by the
industries as the result of the slump in
stocks On the contrary, while
large number of men have been idle in
New York during the summer months
than in the corresponding period of
last year, particularly at the end OF
June, when % per cent OF the work
men were unemployed. the cause OF
this unfavorable industrial condition
is traced to labor strikes which were
instituted with a hope Of securing an
advance of wages or a decrease in the
humber of hours constituting a days
work.
With the exception of the mental
working Industries, in which the
volume of production was diminished
slightly, the workmen who were out OF
employment were for the most part
engaged in the building trades, in
which lines there have been success
ion of strikes and lockouts during the
entire summer. 10 speaking of these
troubles the bulletin says:
The principal cause of this unfavor-
able turn in the condition of labor was
the lockout in the building trades OF
Manhattan and Bronx boroughs of
New York City, beginning the middle
of June and not completely terminated
at the present date. But the building
trades in several other cities (notably
Rochester, Utica and Yonkers, and
other New York suburbs) were like
wise disturbed: the iron and steel and
machine building industries were also
subject to stOppages on account OF
labor disputes; and in general there
we're more strikes and lOckouts record
ed in the second quarter of 1908 than
in the corresponding period of any
recent year. Nevertheless. many of
these disputes were speedily settled,
and it remains true. exclusive of the
building trades, New York industries
were generally as active as in the sum-
mer of 1902, which was banner year.
Turning to another feature of the
report, it is learned that the tide of
immigration from Europe has exceeded
the record breaking current of last
year, which the editor of the bulletin
ascribes to 1.-The eagerness of the low
paid laborers of central and southern
Europe to enjoy the prosperity which
on the whole still reigns in the United
States He also finds that, ''notwith-
standing the great tide of immigration,
the superintendent of the state free
employment bureau in New York City,
In his quarterly report to the cOmmiss-
Toner of labor states that at no time
during the quarter was he able to meet
the demands for domestic help. Pros
perity is so widely diffused that the
servant keeping class is larger than
ever before, and has thus created a
demand that exceeds the supply"
The language quoted above relating
to the s.widely diffused" prosperity is
taken from the bulletin itself, an Off
cial document emanating from COM
missioner who deals largely in dry
statistics and facts and is not apt to be
carried away by enthusiasm in making
up his report. And, as has been
said, the report is OF conditions obtain
lug dt VIC VOIy COuGOI vi UuO UTOuUlc
over "undigested securities" which
are largely Industrial stocks. AS there
has been no materia. change in condit-
ions since the bulletin quoted from was
issued. notwithstanding the fact that
the time has arrived for the annual
striugency in the money market, it is
difficult to see where the pessimist
will be able to find material out of
which to construct his dreams of com
ing financial and Industrial panic.
Milwaukee Sentinel.
Protection of the President
1t is difficult to see how any legisla.