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STATISTICS OF THE AMERICAN IRON TRADE FOR 1894. 19
have both been reduced; but our people are once more generally
employed; large bodies of unemployed workingmen arc not now
seen in any of our industrial centres; soup houses have virtually
disappeared; hope and confidence have taken the place of the
anxiety and almost despair of a year and two years ago. Our
workingmen have generally realized the difficulties which have
surrounded and embarrassed their employers, and as a rule they
have philosophically accepted the reduced wages which low prices
have made necessary. If their wages are low they have the
consolation of knowing that they are at work and are not idle,
and that a dollar will now buy a larger quantity of some of the
necessaries of life than it would have bought two years ago. This
is not, it is true, an ideal industrial condition, because high wages
and high prices lead to the greatest general prosperity; consumption
of both agricultural and manufactured products is alwavs
most active when wages arc high; but it is a cause of earnest
congratulation that in the general depression in values which has
taken place a day's wages, low as they arc, will now secure so
many of the comforts winch every American home should enjoy.
It must be steadily kept in mind, however, that present industrial
conditions in this country are abnormal and should not be
submitted to any longer than is absolutely necessary. Neither
capital nor labor is now sufficiently rewarded. In November,
1894, the people condemned by an overwhelming majority the
tariff legislation which had been proposed by the present National
Administration and the mere threat of which they hold
responsible for most of the financial and industrial troubles of
the last two years. With the same voice they demanded the
full restoration of the protective policy. This demand can not be
at once complied with, but as soon as it can be it will be.
WAGES DISPUTE IN TINPLATE WORKS.
Immediately after the new tariff' became a law the tinplate
manufacturers insisted upon a reduction in the wages of their
skilled workmen, to enable them to meet the increased competition
of foreign manufacturers which would be made possible by
the reduction in the duty on tinplates from 2.2 cents to 1.2 cents
per pound. The men resisted this demand, whereupon, on September
29th, nearly every tinplate plant in the United States was
closed by the manufacturers. A long controversy ensued, and it
was not until January 15th of the present year that an agreement
was reached, both sides making concessions.