Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1903-04-23
FAKE PROSPERITY.

marvellous prosperity" when Wall
street receives another OF those shocks
that are premonitory OF general crash.
This slump in stock values, with its
consequent panic, is a sharp reminder
Of the gaseous character OF our much
boasted prosperity. 1t depends not up.
on wealth production and normally in
creasing volume OF the values OF wealth
produced, but npon an initiation Of the
values OF special privileges OF one kind
and another. 1t is the prosperity OF the
hell. and not OF the goods
Like air in bladder, all these
inflated values may be let out WIKI pin
puncture.
The puncture which brought on the
Wall street panic was made by those
Federal Judges who have decided that
the Northern Securities company-the
holding corporation for the con- olidation
of the northwestern Railroads.&c. an
illegal conspirac Under this decision
all corporations for strangling COMPETE
ton in interstate commerce are within
the shadow of the Sherman law and as
our cake" prosperity is bound up in
the manipulation OF such organizations
the decision gives it rude shock.
1t is confidently believed, however,
that the Northern Securities decision, if
sustained by the supreme court, will put
an end to the evils OF trusts. Nothing
well lie wider OF the mark. Tie trust
evil is not due to the consultation OF in
dustries. In railroading for instance,
there is no harm in the consli lation Of
interests in rolling stock and rails.
Should all rolling stock and rails be
monopolized, new rolling stock and rails
could be quickly produced. That fact
alone would prevent such mopolization.
But there is harm in the consolidation
OF monopoly privileges in rights of way
and terminals. 1t is this and only this
that makes railroad combinations for
midaole public enemy.
The queerness OF this prosperity re.
ceivel new demonstration in the re.
port OF the Interstate Commerce Com
mission, an extract from which was
snugly slowed away in the obscure
department OF railway news in the
Chicago Tribune OF the l4th. This re-
port furnishes figures. to quote f;om the
Tribune, showing that on the average
Hallway wages at present are lower than
they were in 1892 and 1898" "These
statements are interesting" continues
the Tribune, ''in the face of what the
railroads Of the country have done since
the first OF the year in the way OF re-
vising pay rolls and raising the pay Of
employees generally" Interesting in
deed. And the interest is heightened
by a study OF the figures as the report
presents them:
Genera! officers have 81 eadily received
higher pay, the average rising from 1888
to s1O.97. Officers other than general
officers receive 1856 instead of 1888
General clerks wages have decreased
from 1925 to s. 10, and station agents
from sI.S5 to 81 ~. Other station men
have advanced to 1859 from $l.65.
Switchmen, fagmen and Waterman
have been decrease to $l.75 from 81 so,
section ioremen from $l.775 to $1.6!, and
laborers from $40 to sl.69. Engineers
have been advanc d from $3.50 to So. IS,
fremen, from $2.06 to SIG, conductors
from 1910 to $3.l7, other trainmen from
$lS2 to 81, machinists from 81 81 to
1922, trackmcn from 1922 to 81 80, and
telegraph operators aad dispatchers
from 81 Sc to SIS. The advance OF ten
per cent. being made hy some OF the
roads is not included"
What marvellous prosperity this very
marvellous prosperity OF the republican
party, is to be sure. And continuance
OF this republican prosperity is promised
by Senator Hanna in an interview, let
loose at Syracuse, n. y, on the 18th,
"if the people give the present admins.
traton vote Of confidence" That is
all that is needed-confidence .-"Confi.
dence," says Mr.. Hanna, confidence is
what is needed above all other things"
What confidence game it al is.