Democratic Sentinel, Volume 16, Number 20, Rensselaer, Jasper County, 3 June 1892 — M’KINLEY'S ACCOUNT. [ARTICLE]

M’KINLEY'S ACCOUNT.

IT CONTINUES TO SHOW UP IN THE DEBIT COLUMN. ffiC* Reductions, Strikes, Closed Mills, and Vanishing Industries Are the Principal Items—We Make Tin Plate, but It Is Used Principally for Campaign Thunder. A Very Bad Record. Verily, this “brave measure," this '‘trust-killing tariff,” as the New York Tribune calls it, is making a record for Bill McKinley. But what a record? As every one knows, this act was to “boom” American industries, raise wages, and make everybody prosperous." Ever since its passage we have been hearing of wage reductions, trusts, closed mills, etc. As no important wage advanoes were heard of, we began, a few weeks ago, to keep a record of tho effects upon labor of this bill. So far we have found nothing worth reporting to the credit side, but more thah we iould find space for on the debit side. The situation is still unchanged. In a few of the sixtytwo May Day strikes reported, the strikers have been promised slight reductions in hours, or slight advances in wages, but none of these appear to be in protected, industries. Most of these strikes Are still on, and are causing numerous sympathetic strikes. Thousands of stone cutters ana pavers in New England are out because owners of quarries will not sign the customary agreement for the scale of wages for the next year. The owners wish to postpone the date of this agreement until next January, when work will be slack, and it will be easy to take advantage of the situation and reduce wagos. It is now expected that nearly 100,000 pavers in Eastern cities will soon be on strike. The following are a few of the items charged to McKinley: May 9. To the report that the miners of the Wyoming Valley, Pa., are preparing to make an organized effort to S revent reductions caused by the Ueadlg coal deal. May 9. To the report that the new wall paper trust will have $20,000,000 capital, and that it will save $500,000 a year by throwing out of employment 800 drummers. The old pool which went to pieces in 1887 made profits of 200 per cent by selling at*4o cents per roll wall paper now sold for seven cents. Wall paper manufacturers have not forgotten those golden days, and will make an effort to get back to them by advancing prices, reducing expenses, etc. May 10. To the report that seven packing companies have combined Into the International Packing and Provision Company with a capital of $6,500,000. Offices will be in Chicago and London. May 10. To the report that the safe trust, as completed, contains five big firms, and has a capital of $3,300,000. May 11. To the report that the naval stores operators of Georgia, Florida, South Carolina, and AlaDama have formed the Turpentine Operators’ General Association. The objects of this trust are to reduce the price of labor and to regulate the supply and prices of their wares. It controls more than 70 per cent, of the world's supplies of naval Stores. May 12. To the report from Norristown, Pa., that the puddlers in Hoovens’ rolling mill have accepted a reduction from $4 to $3.50 per ton, after a strike of several months, during which time the mill has stood idle. May 12. To the report from Fall River that the Narragansett mule spinners are on strike because of a scarcity of backboys and doffers, resulting in a reduction of wages. May 12. To the report that the Union silk mill at Catasauqua, Pa., has closed because fifty woavers are on strike; 170 employes are affected. May 12. To the report that Maine has lost her smelting industry. The Katahdin Iron works, which suspended In 1890, has now removed to Pictou, Nova Beotia. May 12. To the report In the Iron Age that the manufacturers of the Mahoning and Shenango Valleys have agreed upon a scale of wages which they will present to the Amalgamated Association of Iron and Steel Workers in June, and that “it is understood that a thorough rearrangement of prices has been made, and that quite a material reduction In the price of puddling has been demanded." May 12. To the report of the Iron Age that the weekly capacity of blast furnaces has been reduced 7,576 tons since April 1. May 12. To the report that the first move of the perfected sugar trust (after getting control of Spreckles’ Philadelphia refinery) was to offer the sugar planters in Cuba, Porto Rico, and other West India islands a rate for raw sugar that will hardly pay expenses of production. The poor planters, now having only one market and one set of buyers, must accept. The consolidation has also had freights cut from 14-to 9 cents per hundred pounds from Cuba to Philadelphia. The trust is not asking for the removal of the 4-cent duty on refined sugar so that it can reduce the price to the consumer. It prefers 30 per cent, profits for itself to cheap refined sugar for the people. May 12. To an advance of 5 cents per 25 pounds in the price of shot. A previous advance wns made July 4, 1891. The shot trust was formed In 1890, and contains ten of our leading shot manufactories. May 12. To the report In the Iron Age that the price of binder twine, which reoently was 74 cents, has been advanced to 12 cents per pound. The American Cordage Company has not lost its grip on the market, and does not fear that its friends in the Senate will desert It and pass the free binder twine bill. May 12. To the report in the Iron Age that New York and Boston importers of French glass have advanced prices, and that “better” prices for American glass are likely to rule. Thiß is what the window glass trust has been aiming at by closing furnaces to decrease production.