The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-08-03
THE INDUSTRIAL ourLoox.

The indications seem plain to those
who are on the lookout that we are
ct the beginning of decline in our |
Industrial activities. To those who have
been accustomed to observe the rela-
tionship between the financial world
and the industrial world it is plain
that the financial world has been over
strained and feels exhausted, and that
the Industrial world has been over
worked and is tired. 1t is not natural
and, therefore, not desirable, that in
x dustries Of country that has q
long life before it should go at a pace
which is excessive and eXhausting TO
those who are engaged in them.
The general effect of our late indus
trial activity has been to put up prices
. of materials and of labor to an all
normal height and not to give entire
satisfaction to anybody. Shippers have
been very dissatisfied with the SER
eice of railroads. The railroads have
been glutted with freight they were
utterly unable with their existing ia
cilities to handle promptly. Deliveries
Of manufactured articles have been
greatly delayed. Materials for all pur-
poses have been hard to get on time
and at moderate prices. While labor
81 has received high wages, the prices
y OF supplies of all kinds have
advanced. so that labor is not
satisfied. The effect upon the
ordinary day laboring classes, which,
In the South are almost entirely COM
posed of negroes have been actually
Injurious. Their wages have been
so high that they have been able
to live, after their accustomed manner,
upon the earninge .of a few days in
the week, and..1 the rest of the time
they have generaily-we speak only
from our knowledge OF the conditions
In the south--stopped work and spent
the time in idleness. AS far as
we can learn they have accumu-
lated nothing. The effect of this
period OF great prosperity has been
merely to lessen the days Of work and
inculcate habits of idleness and thrift
lessness. AT the same time there has
been such demand for this labor
all sorts OF construction work that
they have been able to control the
s!tuation, and TO do as little as they
pleased and demand as much as they
chose. This has been the universal ties
timony. The cost of all construction
work and the operation OF railroad.
have enormously increased, and builder
and transportation companies hay
been unable to do normal business
from the magnitude of the demand
FL upon them; but now, with a diminu
ton Of business. more reasonab l
and moderate condition will prevail
and there Will be a return to the quiet
or and more natural condition. Con
AZ struction baing stopped, the deman
for capital VIII lessen, and there wi
4. ultimately be a better supply OF none
for carefully selected Enterprises
1s The clamor against railroads VIII. {
course, have it's effect. There VIII b
little disposition on the part o. an
Intelligent investor to inc-ease his II
yestments in property that is at tt
mercy Of politicians and popula
NJ vote. The tendency to get somethin
for nothing is primordial In human n;
ture. and this spirit has been pushe
Ns 80 far. in the attacks upon railroa,
Ns lately that there will be little al
position to extend railroad operatio
until better spirit prevails. We 10,
for duller times, and for decld
falling Oft in many Industries. AS
consequence many men VIII be Id
and we fear that there has been lii
ss saved in the past seven fat years
carry the ordinary working man o,
the period CT depression which a
pears ahead of us.
49, --------===-----=.
DEMONSTRATION FARMS.
sgsss3a lYhe Times DispatCh has more IL