Gainesville daily sun. (Gainesville, Fla.) 190?-1938, 1909-12-09
OEvELopMENTs Of THE wEEK.
(Wall Street Journal.J

LdSI week saw LuOSL uuWelCOme
check to the almost uniform recovery
in business. The railroads in the
Northwest have been tied up by a
serious strike, involving the switch
men and consequently producing a
direct and damaging effect upon the
handling Of freight. The demand Is
for more wages and the strikers have
declined to listen to arbitration. It
is claimed that the railroads are max
Ing some Roadway now. but the move
ment should be taken as a warning
that the continuous advance in the
prices OF commodities will necessitate
higher wages. In 1908 the wages of
the workers should have been reduced,
but a foolish interference Of a political
character prevented a proper adjust
ment, with the result that many hands
we're laid on. The present situation
is prejudiced by the errors Of that
period; but It IL difficult to see what
the railroads can do. They must meet
the increased COS. OF living, even II
they have to raise freight rates and
take away some Of the large profits
that the farmers in particular have
been making.
When Congress is in session every
body seems afraid to criticise the
farmer, and at any time his incon-
slstencies are condoned. He has new
er anything to say about spectators
when the price of his product is be-
ing advanced to his advantage; and
he does not consider that his own OBJ
jections to combinations of all sorts
apply TO a combination to keep up the
price OF cotton or other commodities
among the farmers themselves. Still
the demand for shifting OF the bur
den which at present presses so heav-
lily upon the wage-earning and salaried
classes is growing. Corporations, in
spite Of much heady oratory to the
contrary, are. paying their full share
Of taxation; while the farming classes
are protected at the expense OF every
body else. Most people will admit
that something should be done to in
crease the inducements to return to
the soil. II will be noticed that we
have completely failed, even with an
almost servile adjustment of our fiscal
system. to discover the real induce.
ment so far.
The transfer OF the Ryan majority
holding in the Equitable Life to ].
Pierpcnt Morgan was the event OF the
week In the financial district. The
voting trust expires next June and /
good deal win turn upon what MIR.
Morgan intends to do with the add.
ton TO his already enormous power.
II he follows the methods OF Massa-
ohusetts. the best insurance system
this country has yet developed. he
will mutuallze the company as soon as
possible, and, while properly strength.
ening the reserves. viii turn the sur
plus to its proper use Of reducing
premiums Mr.. Morgan has not
hitherto been famous for quite such |
aluuism as this. and the possibility /
that the large resources OF the com.
pany will be used In a way reminis.
cent otthe financing Of ave years ago
IS always a contingency worth the con.
slderation OF the financial district. !
There is a decided trend to the con.
eentration Of financial forces at pres.
ent, and the Equitable transfer empha.
sizes this.
There Is something OF a hull in gen.
eral business. although In the iron and !
steel trade the volume is stIll quite |
remarkable. The coal trade has been