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

! A good many events are taking place
at present in the business world
whose effects are likely to be felt by
| the workingman unless there is II turn
in the tide The American Smelling
company. which has already reduced
| its dividend to 4 per cent. shows prac
| ,icllly no surplus above dividends for
the past year. and the American Loco
motive company, after paying one
dividend without having adequately
| earned it, has now passed its divi-
lend altogether. To the workingman
facts like these may seem to concern
The capitalist and investor rather than
himself little consideration will
show. however. that such events soon
react upon labor. not only by depriv-
ing some laborers Of employment. but
by reducing the demand for labor and
be made even among those still en-
ployed. The fact that the American
Locomotive company has been com
PEELED to close lis works at Providence
is one of the evidences Of this. The
fact that building operations have de-
clined for representative cities from
$500 0o0,OoO in the first eight months
of 1907 to $2Si,35l 900 for the CORE
spending months Of the current year
carries the same lesson.
What will he the effect upon labor
If the shrinka-e of Il to % per cent
in volume of transactions which has
already been disclosed in railway
earnings. building construction and
other directions Is not soon counteract
ed by reviying confidence? Every Ia
boring man can answer the question
for himself lie knows that it will
mean reduction of wages. ineffective
strikes the exhaustion Of his savings
and the success of scab labor in GUST
ing him from his job at lower wages
unless he submissively accepts the
terms imposed by unfavorable bust
ness conditions.
To the laboring 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 1t.
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
tail his business activity from the
very day that the result of the cleo
ton Is announced? There may be la
boring men vindictive enough toward
their employers to enjoy the spectacle
Of seeing them worried by the election
Of Mr. Bryan. But would temporary
qualification like this be wisely OBJ
tained at the sacrifice Of steady EN-
ployment, good wages and personal in
dependence during the next foul
years? Even II the business men who
entertain these feelings are all wrong
still the fact must be faced that they
are entertained and that Mr.. Bryan's
attitude on important public questions
Is not likely to dispel their dlstrust
after his election.
i Among the Important principles
which MIR. Bryan Is advocating In thii
} campaign are radical revision of thu
! tariff. reduction Of the product Of thu
trusts and the issue Of government
paper to supersede the existing cur
rency system. Radical revision Of tn
tariff means that manufacturers vii
reduce their output to the absolute
minimum which will meet current or
, ders. The mere fact Of uncertaint!
regarding the proposed rates, espe
cially when that uncertainty IL EN-
: phasized by Mr.. Bryan's demands tina
the rates shall be moved sharpl.
9 downward. will paralyze the activit,
8 and reduce the output Of nearly ever,
t manufacturer. Still less will 1t b
9 possible for any manufacturer to boz
: row capital Of the banker and emplo
contractors and builders for extendin
his plant and atfording increased en-
ployment to labor.
The attempt to destroy the trusts b
such a crude process as removing tn
. duties on trust made goods woul
have an even worse effect. Certai
: industries would be practically ruine{
their securities would decline. receiver
ships would ensue, and the communit
would again be In the midst Of PAM
more threatening than that Of last Al
tumn. because It was brought on b
e the determined purpose Of a man 81
dowed with four years Of power. III