Lewiston evening teller. [volume] (Lewiston, Idaho) 1903-1911, 1908-11-03
Business Shriuknge and Labor.


A good many events are taking place
az present In the business world
whose effects are likely to be felt by
the workingman unless there is turn
in the tide. The American Smelling
company. which has already reduced
its dividend to 4 per cent, shows prac-
,ically no surplus above dividends for
he past year. and the American Loco
motive company, after paying one
dividend without having adequately
errned it, has now passed its divi
lend altogether 10 The workingman
facts like these may seem to concern
the capitalist and investor ather than
himself A little consideration will
show. however, that such events soon
react upon labor. not only by depriv-
ing some labDrers Of employment but
by reducing the demand for labor and
so permitting reductions in wages to
be made even among those still en-
ployed. The fact that the American
locomotive company has been COM
PEELED to close is works at Providence
is one of the evidences Of this The
fact that building operations have de
cined for representative cities from
$500. 100000 in the first eight months
of 1907 to S2si ,351 ,OCO for the core
spending months of the current wear
carries the same lesson.
What will be the effect upon labo.
If the shrinkagc of Is to - rer cent
in volume of transactions which has
already been disclosed in railway
earnings, building construction and
other directions is not sool co.nterac,-
ed by reviving confidence? Every la
boring man can answer the question
for himself He knows that it will
mean reduction of wages. Ineffective
strikes. the exhaustion Of his savings
and the success of scab labor Ia Gust
ing him from his job at lower wages
unless he submissively accepts the
terms Imposed by unfavorable bust
ness conditions.
To the laborlng man who favors the
election Of Mr.. Bryan as president the
question should come home whether
under the most favorable conditions
such an event would contribute to the
revival Of business or even permit It.
Does he not know that the average
business man, whether he be manufac-
turer. contractor. engineer or banker.
looks upon the election Of Mr. Bryan
with fear and trembling and will cur
tall his business activity from the
very day that the result OF the cleo
ton Is announced? There may be Ia
boring men vindlctive eneugh toward
their employers to enjoy the spectacle
OF seeing them worried by the election
OF Mr. Bryan. But wouAi a temporary
qualification like this be wisely OBJ
talned at the sacrifice of steady en-
ployment, good wages and personal in.
dependence during the next four
years9 Even U the business men who
entertain these feelings are all wrong.
still he fact must be faced that they
are entertained and that Mr.. Bryan's
attitude on important public questions
10 net likely to dlspel their dlstrust
after his ebection.
Among the important principles
which Mr.. Bryan Ii advocating Ia this
campaign are radical revision ct the
tariH. reduction of the product Of the
trusts and the issue OF government
paper - supersede the existing cur
rency system. Radical revision Of rhe
tariff means that manufacturers wal
reduce their output to the absolute
minimum which will meet current or
ders. The mere fact Of u1certailty
regarding the proposed rates, espe-
cfally when that uncertainty ls en-
phasl1ed by Mr.. Bryan's demands that
the rates shall be moved sharply
downward. will paralyze the activity
and reduce the output OF nearly every
manufacturer. Still less win It be
possible for any manufacturer to Dor
row capital OF the banker and employ
contractors and builders for extending
his plant and adording increased en-
piOyment to labor.
The attempt to destroy the trusts by
such q crude process as removing the
duties on trust made goods would
have an even worse effect. Certain
industries would be practically ruined.
their securities would decline. receiver
ships would ensue, and the community
would again be in the midst Ct . panic
more threatening than that q last au-
tumn. because it was brought ON by
the determined purpose Of a. man en-.
lowed with four years Of power. The
proposal to issue greenbacks would
revive the evi1a ~ civil vae Ansucn