Democratic Sentinel, Volume 10, Number 9, Rensselaer, Jasper County, 2 April 1886 — INDUSTRIAL SITUATION. [ARTICLE]

INDUSTRIAL SITUATION.

Commissioner Wright, of the Labor Bureau, Reports One Million Men Idle. [Washington telegram.] The first annual report of the Bureau of Labor is completed. It will cover five hundred pages. Under the head “The Industrial Depression in the United States,” Commissioner Wright says: Prom tho observations of the agents of the bureau, and from other sources from which it has been possible to form conclusions, it is undoubtedly true that out of tho total number of establishments—such as factories, mines, etc. — existing in the country, about 5 per cent, were absolutely idle during 1835, and that perhaps 5 per cent, more were idle a part of the time, or, for a just estimate, 71£ per cent, of the whole number of such establishments were idle, or equivalent to idle, during the past year. Applying tlie percentage arrived at (iy 2 per cent.;, wo obtain a total of 998,839 as constituting the best statement of the unemployed in the United States during 1885 —meaning by the unemployed those who, under prosperous times, would be employed, and who' in 1885 were seeking employment—that it has been possible for the bureau to make. It is probably true that this total, as representing thp unemployed at any one time in the United States, is fairly representative, even if the laborers thrown out of work through the Oi ssation of railroad building be included. A million of men out of employment means a loss to the consumptive power of tho country of at least 31,000,000 per day, or a crippling of the trade of.rthe country of over 3300,000,000 per year. Tho earnings of the people involved in the classes named above would not bo far from 3600 each per annum, representing total earnings of 37,990,716,000. The wage earnings of the million thwfc should he employed are crippled to the extent of over 3300,000,000 per annum, a sum sufficient to cause a reaction in business and a general curtailment of expenses, from which result apprehension and timidity among all classes. It is curious to observe, however, that while the sevority of the depression causes a crippling to the extent of several hundred millions of dollars per year of the consuming power of the people, tlie volume of business transacted is not crippled comparatively to any such extent. It is shown that just previous to the financial panics of 1857, 1873, and 1882 there was an immense increase in the mileage of railroads constructed iu the United States. The results of this in throwing men out of employment have great bearing in producing depressions through the stoppage of consumptive powers. Tho Commissioner says: Tables are given indicating two things, viz.: That while, as shown, the extent of the existing industrial depression involves a crippling of the wage receivers of the country and a consequent crippling of .the consuming power of tho people, tho volume of business lias been fairly well preserved—at least not cripplid to any such extent as indicated by the crippling of the consulting power—arid the prices have constantly fallen: ’ Alohg with these two features there has been a constant diminishing of pirofits until many have bom. conducted with little or xio margin to thews engaged and’a great lowering of wages in general.