Democratic Sentinel, Volume 16, Number 17, Rensselaer, Jasper County, 13 May 1892 — McKinley’s Unbalanced Account. [ARTICLE]

McKinley’s Unbalanced Account.

One important object aimed at by the MoKinley tariff bill was to make wages higher. To do this It was necessary that it should be the enemy of trusts and combinations, which by shutting up factories to limit production, and by taking advantage of organization, do so much to depress wages and keep men Idle. On these two points the bill is perfection, in the eyes of the advocates of protection—the New York Tribune going so far as to say: “Men and brethren, this is a trust-killing tariff." Suppose, In order to see how effective the bill is In this line, we start an aocount giving it credit for the trusts found dead each week and the reported advanoes in wages, and debiting it to the wage reductions, lock-outs, strikes, etc., and to the trusts formed under it. The aocount Is a little one-sided this week—there being nothing on the credit side—and we will therefore give space to only a few of the numerous items on the debit side for the week ending April 23, 1892.

April 16—To the report, in the New York Tribune, that the shut down of the big Spreokels refinery In Philadelphia, which oocurred as soon as the sugar trust gained control of It last week, and whloh threw 600 employes out, is likely to last for months, and that, upon the authority of a well-informed dealer, “the shut-down was not caused by overproduction. Inquiries at the office will show that they have.but one brand on hand. The main object In getting a restriction placed on tho production Is to keep the prices up to tho (tariff) limit. It is also possible that steps will be taken to close down the remaining refineries here."

April 16—To numerous reports showing that tho whisky and rubber trusts are lu good fighting trim. April 16—To a long list of strikes in mines and factories, beoause of now scales of prices for piece work, employment of non-union men, etc. April 16—To the depressing announcement, In tho Tribune, In regard to the Iron trade that “thus far the mining Interest has hod recourse to shut-downs or ourtatlmentof working foroo, In a few Instances, to a reduction of wages. There Is every Indication that, beginning at the furnaoe-yard and running back to the mine; there will bo a readjustment of the elements of oost. Labor will doubtless bear a considerable share of these curtailments." April 17—To the announcement that 1,000 men will bo laid off by the Phoenix Iron Company, Pennsylvania, on Monday; that the Reading Iron and Coal Company will in a sow days make a general reduction in the wages of all employes, ranging from five to ten per cent. April 17 —To tho report from Beyfert Station, Pa., that Beyfert & Bros.’rolling mill, employing 250 hands, and Simon Soyfert’s mill at Gibraltar, employing 100 men, shut down Indefinitely during the past week; that a reduction of 26 cents per ton In the wages of puddlors went Into effect at Mcllvain A, Boiib’ boiler plate mill on Monday; and that a similar reduction has been made in the wages of puddlors employed by the Brooke Iron Company, at BlrdsIjoro. April 17-To the report from Lebanon that wages have been roduoed at the works of the Pennyßlvanla Bolt Company and of the West End and Lebanon rolling mills. April 19—To report from Boston that tho Norway Steel and Iron Company, at' one tlm i the largest concern of its kind in tho country, to-day passed forever out of existence. “Excessive taxation of raw material was what caused the corporation to close lte works,” said Mr. Albert Gteger, one of the stockholders. April 19—To report of the State Board of Assessors that over thirty of the 12,377 miscellaneous corporations in New Jersey have a capitalization of more than $30,090,000. The sugar-re-fining company leads with a capital of $49,125,000. The cotton oil trust has $30,293,000. Many other well-known trusts are among the number. April 19—To the affidavit, by the President of the National Cordage Company, that the company cleared $1,460,000 In 1891, and paid $1,300,000 in dividends. / April 19—To the report from Butte, Montana, that the upper works of the Anaconda Smelting Company have closed down indefinitely, throwing 500 men out of work at Anaconda and 150 miners at Butte. The objects are supposed to be to reduce wages and to raise the price of copper. April 28—To a big combination of trunk manufacturers, including fifteen establishments in Western cities. By the new arrangement the territory will be divided, and each manufacturer will have a section exclusively to himself. Tho company is capitalized at $2,500,000 and has its headquarters at No. 213 Monroe street, Chicago. April 23—To a strike in the plush factory at Bridgeport, Conn. Superintendent Pierson said In an address to the strikers: “I should think the unmarried portion of the strikers could easily secure board at $2.50,a week. If you curtail expenses in your domestic routine you can easily make a comfortable living at even the reduced scale of wages. ” The strikers say that the plush company brought them to this country on the assurance that they would receive at least sls a week. Many are returning to their native country.