The Pleasantville press., 1912-10-30


lection. AS it grew it threw out
branches that took root in Hoboken.
Jersey City, Pennsylvania, New York,
Connecticut and elsewhere. All the
silk manufacturing industries of the
country had common root in Pater-
son, fertilized by the life giving waters
of tariff protection.
What Paterson would be without her
great silk factories need hardly be said.
She would be q mountain village and
would hardly find place on the map.
BY the last census Paterson had 276
establishments for the manufacture of
silk in its various processes In these
factories there were employed 21.O00
work people, whose annual wages
amounted to about S9,OOO,OOO. The value
Of the product annually was S4O.500-
600 and the capital invested was $780,
100000. This does not include dyeing
and finishing. which is also a great in
dustry.
In the last decade the growth of the
silk industry in Paterson was phenome-
nal. There was an increase of 140 fac
tories, 5000 work people, nearly So 3,000.-
600 in annual wages. $14 100000 in an
nual product and S7.5OO,OO in capital
In the state at large there were 34S
silk factories, according to the last
census. employing 32.365 hands. paying
out S14,OO0.0O0 annually in wages. turn
ing out S65.50O,OO0 OF finished product
and having S44.OOO.OOO of capital. As
has been said. the silk industry
throughout the state had its origin in
Paterson under the tariff protection
that President Taft has so stoutIy
maintained against the combined as
saults of. the Democrats and mug
wumps in congress.
In 1850 Paterson had population of
1883 1t had 125.6OO at the time of
the last census and in the last decade
the silk industry added 5000 bread
winners representing more than double
that number of new population. Silk.
manufacture has made Paterson the
third city of New Jersey In population
and wealth and the second city in the
number of her wage earners engaged
In industries.
In ten years the bank resources of
Paterson, dependent so largely on the
prosperity of the 276 silk mills, have
doubled. There are nine banking in
stitutiOns, including three national
banks. five trust companies and a saw
fngs bank. with combined deposits of
$34,O00,00O. The savings bank has
$13,644.500 of resources and S12. BOG. 900
of deposits. This bank has more than
$5,000,000 of mortgage loans. and it is
due to these loans that hundreds of
workmen's dwellings have been built
out of their savings. as well as busi-
ness places The prosperous building
and loan associations also conserve
the savings Of labor and have helped
to build up Paterson
Before the period of the Morrill, tariff
there was neither savings bank nor
a building and loan association in
Paterson. The savings bank was start
ed In 1869 and the building and loan
associations came in later.
There are now nearly 10000 buildings
In Paterson. About 400 were destroyed
by the great fire in 1902. The wonder
full resources of the city were shown
at that time All outside help was re-
fused The Silk City. prosperous and
wealthy. needed none. From 1907 to
1911 no less than 24S9 new buildings
fod -
large mills. All this building gave
work and wages to an army of carpen-
tiers. masons, plumbers and others OF
the building trades.
Paterson is city of few large in
dustries. all dependent on tariff pro
lection. There are few small indus
tries. as In Newark. The paralyzing of
the silk industry alone would spell dis
aster for the city. The closing of the
numerous mills would be followed by
hegira of the working population. the
abandonment of hundreds of small
stores with which the working people
trade. and eventually the bankruptcy
Of the large stores. The effect on bank
ing institutions. building and loan as,
sociations, the property valuation. the
public revenue, the charities and
churches. and the whole social life of
Paterson can better be imagined than
described
President Taft maintains that the In
dustrial and business conditions that
characterize Paterson today denote
great prosperity. that they are due to
the protective tariff. and that it would
be a crime to destroy tariff protection
and destroy prosperity for Paterson
Governor Wilson does not deny that
Paterson is prosperous. He does not
and cannot claim that this prosperity
is due to some other cause But in the
true spirit of the doctrinaire and as an
experiment in government he wants to
try free trade to see what its effect
viii be- And evidently be doesn't par
ticularly care who is hurt, as he is not
personally interested in manufacture
and trade