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Leader (1850-1860), 23rd October 1858, Edition 2 of 2, Page 25, x^ v^j. -xjw, w . —- : . . • . . . MERCANTILE AND COMMERCIAL.

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      Oo ' Iqftftl The Leader. 1187 Tvt ~ A./L...

      oo ' iQftftl THE LEADER . 1187 tvt ~ A . / LH Onxn ^ EE 23 , 1858 . j . a . ^ ¦ ¦ ¦

      X^ V^J. -Xjw, W . —- : . . • . . . Mercantile And Commercial.

      x ^ v ^ j . -xjw , w . — - : . . . . . MERCANTILE AND COMMERCIAL .

      The Colliers' Strike-Yorkshi Re. It Is N...

      THE COLLIERS' STRIKE-YORKSHI RE . It is now thirty-three years , or thereabouts sance the laws to prevent combinations amongst woilmen were repealed , and through . this period , a 3 cas £ the Legislature has g ivenup as hopeless aU attempts to prevent unions and strikes . It tacitly admits therefore that it can find no remedy for such social evUs they prevailed under the combination laws , they have pSvailcd since , and they continue to prevan They are always to be deplored , and they , never confer advantages on either masters or men . The matter being ° left , however , m their hands , it behoves both to be extremely careful and completely just in their dealings with one another Since the law docs not interfere with them , the onlv rules to guide them are those of equity inteipreted by thek own consciences . Though one pays and the other receives wages , both are remunerated bv the sale of their common produce , and both have a common interest . Jealousy there may be , and is , that one class or the other class gets too miwh of t e profit of the joint undertaking , aiid it is precisely S ? s whiel » should be avoided or stifled by the strict practice of justice on both sides Now the . amount of wages required at any time by justice can only be determined by the mutual agreement or mutual hWlino- of masters and men . There is no abstract rule for settling it ; it ahvays depends on oircmnstances . It is quite certain , however , that the . men have a strong interest in the property of their employers , for in proportion as these succeed they can SmpWmore hands and pay them well But it is equally certain that the masters have a strong interest in 'the well-being of the meiii . As they are healthy and cheerful they work better , and the . employers , for their own sales , should pay them we 1 . To stint and starve them is to degrade them bodily and mentally , to fill them with vicious propensities , and turn strong useful friends into ¦ mischievous foes It is to be expected , therefore ; that their mutual interests should make them mutually respect each other and act with mutual equity lu general they do , otherwise they could not get on , and the disputes which sometimes ensue are always in the end regretted on both sides . It would be presumptuous in us to express a strong opinion on the subject of the colliers strike , with which we are not fully acquainted , but we know as a general fact that the masters beinff comparatively few can much more easily combine than the men , and we know as a general fact that they do act in union or combination ; we know , too , as a general fact , that the mas * ters thrive and make fortunes , while the men continue in a condition of comparative poverty . We know , therefore , that the chiet advantages are generally on the side of the masters . Between 1357 and 185 S there has been a considerable fall in prices , but the men allege that the price of coals is now 02 per cent , higher than in 1 S 53 , while their wa" -cs have only r isen from 20 to 30 per cent . ; and any fall of price in the present year , which will most probably bo temporary , docs not justify the immediate and proposed reduction of wages 15 per cent . .. „ We continually hear of the improvulcnco ot workmen ; let us not forget that masters shared , m the extravagance and speculation of 1850 and 1857 , and did not husband their resources so as to meet with satisfaction a temporary reverse . The yield of the mines has not diminished , the demand for coals is not less , and the produce , wo think , still fotchos in the market a price sufficient to oimblc the masters to continue the former rate of wages hud they been as provident as they ought to have been . Both masters aiid men must bo remunerated out of the price of the coals , and if both bo improvident , thoro is no good reason why the workmen should be , tho chiof or only sufl ' orors when it declines . In Franco and in tho United . Statos capitalists aro accused of pressing on tho labourers—they grow rich by exploiting thorn , to use tho French word } they mako common cause with tho Governin out against them . They rather squeeze out of tho labouvprs than pay themselves the taxoa tlioy hand over to tho Government . Wo do not giro in our adhesion to thoao aoousationsj wo l-ccoguiso ,

      on the contrary , the growth of the cap italist and his emp oyment o / iabou ? ers as the means of sappingW destroying the old system of feudal slavery ; but it fhe ^ italists anxisly step into aU" * £ power of the old slave-masters , and treat the lationiers JiKe slaves they will be considered as oppressors and as us ng he Others for their exclusive advantage . With t ° e labourers they have a common interest and with them , not with the Government and the aristocracy , they should make common cause They should accordingly get removed , as far as they can , aU the national charges which help to make the produce of the mines insufficient to yield Sl ^ e . profits to the employers and large wages to ^ BoXtE classes have formed unions hostile to one another . The masters are said to have ^ hrst formed a union . AU such unions are to be demecated , whoever begins them . They a re ^ tende * to obtain advantages for the . unionists from which they would be excluded by individual competition . The masters expect by union to keep -down wages the men hope by union to raise wages . They are both at variance with the principle of competition the full , free , and fair operation of which in all classes and conditions throughout society is , we think , essential to its welfare . The union implies a departure from justice . It is intended as a ; substitute for the equity which ought to prevail between man and man . Popularly it is supposed to give strength , but the union which gives strength fs already found in the existence of society , and these artificial unions , cutting off sections Irom general society / are really arbitrary bonds , to which some are always opposed . They are sources of weakness , not strength . We are sorry to believe that the masters in the case of the Yorkshire collieries began the unions , and they . therefore . a bad example tp the men . They substituted this artificial bond amongst themselves for the natural relations of equity and justice which ought to exist between individual employers and workmen , and the observance of which alone can promote the welfare of both .

      General Trade Report. London, Friday Eve...

      GENERAL TRADE REPORT . London , Friday Evening . To some extent there is , apparently , a greater degree of quietness in certain branches of trade than there was last week . It is , however , more apparent than real . After the large improvement that lias recently been developed , » period of comparative inactivity was . naturally to be expected ; the most surprising , as well as the most gratifying feature in the present dulness , is the small space over which it extends . A glance at what is stated below will prove that it is of the most partial character , and further , that in the opinion of competent practical judges , it is likely very soon to be succeeded by a period of activity . Principally affecting the cotton trades of Lancashire , it is attributable to the maintenance of high terms for the raw material . In Yorkshire , though the value of wool is maintained , the demand for goods is not abated , but rather increasing , and linen fabrics are still largely wanted . The hardware and iron branches aro firmly maintaining and extending the improvement which commenced two or three weeks ago . Tho railway traffics are slightly loss favourable * but they still compare with a period of considerable activity ; consequently tho comparison possesses little importance in estimating tho present condition of trade . They are increasing week by week , without producing or leaving any excitement ; and though their extension may at present bo small , the improvomont is sound and progressive . With regard to the etato of tho Money Market , wo have only to repeat the fact that traders aro not availing themselves of tho existing terms , though they aro now lower than they have boon for some years past . Money is a complete drug . The banks and discount brokers aro gluil to got 2 per cent ., but ovon at this price they cunnot induce , responsible men to tnlco more than thoir business really recmiros . Apparently wo nro a long way off tho prodxbted mania , ami wo see no signs at present ot tho bulk of commoreial men boing driven by the lovo of speculation from thoir existing safo position . Tho Bank abides by its 3 por cent , minimum , nnd consequently obtains no discount business . Of courso tho Directors aro Warned , for persisting in this policy ,

      but their friends and defenders point to the active demand for money now prevailing throughout Germany , to the ticklish state of the foreign ex- changes , and to the frequent transmission of considerable amounts of bullion to the . Continent as a full and perfect justification . The weekly returns published this evening shews a reduction of 22 , 0 , 431 ? . in the Bullion . This fact is not without importance . In Manchester the markets this week have been quieter than of late , and the hold upon prices has rather relaxed . In yarns from No . 60 upwards there is no giving way ; for , being relatively cheaper than the lower numbers , they are taken with less distrust by those who want them . Lower down in the scale of mule , and generally in water , those vvno have effected sales maybe considered to have done so at an average abatement of id . per lb . from the actual rates of the previous week . Since this pause commencedi the decline in the yarns referred to maybe stated at | d . per lb ., being more in some kinds but less in others . During the same time no spinner could get his quality of cotton without paying an addional id . to § d . per lb . for it . It is to be noted that such spinners as are still well supplied with contracts do not make the concession which others , do who want orders . Of course , engagements are continually expiring , yet no signs of accumulation appear in first hands . On Tuesday , and it was confirmed to-day , taking twist and mule yams from No . 50 to the lowest counts , there was a difference of Id , per lb . against those who want to sell , in comparison with wliat was practicable a week back . This is of course a rough average . The whole depreciation resulting from the four weelcs of " suspended animation ' " be put down at fully id ., some articles more , some less . * As the consumers of a large proportion of American cotton cannot get their quality without paying for it $ d . to f d . per lb . more than they did a month ago , their position is thus deteriorated T > y more than id . per lb . We are here comparing , not merely nominal quotations , but prices actually obtained or obtainable . It must be observed , however , that many spinners have not submitted to the full reductions here stated . Those who have more contracts in their books than others are at once less disposed to give way and more successful in maintaining their ground . There has been the greatest decl : ne in spinnings for the Blackburn market , particularly No . 32 cop twist , in which it now amounts to fd . at the least , having yielded at the rate of about Jd . per week . This article , however , is always more subject to fluctuation than almost any other . It is found that Nos . 20 and 30 water in the bundle are affected in the next degree , say id . in the month ; and they constitute a very extensive production . Throstle warps have scarcely suffered equally with bundles . In other departments the present position of things is pretty much as follows . Double yarns below No . 100 are inanimate , and cannot be sold without concessions , and there is no margin within which these can take place without loss . Single yarns from 60 upwards are steadily held at the previous rates , and both single and double above 100 are entirely firm at the inadequate quotations . With regard to goods the Eastern merchants , though they have favourable telegrams from India and China , have kept out of the market . The reason is that , with cotton at present prices , there is an extremely small margin of profit upon shipments . But tho declining tendency in prices is met by a dogged resistance from the manufacturers . Limited purchases have been made of jaconets and some other fabrics . Some sellers of other articles , such as 40-inch shirtings arid certain 9-8 , perceive signs of a disposition on the part of here and there a merchant to lay his hand upon anything temptingly cheap ; as yet , however , they are only questionable signs , except , perhaps , in reference to 71 b . 40-inch shirtings . Persons in a position to form an accurate judgment—even among buyers—are of opinion that wo are not far from on increase of demand , induced at oneo by the reduction in prices and by tho want of renewed supplies . This is hopeful , and it makes manufacturers less anxious to do business under present circumstances . Tho business of Leeds , though somewhat quieter , is satisfactory , the markets of tho wook having been firm in tone , while the quantities of goods for tho approaching winter season taken by purchasers 1 ms not appreciably fallen off ; Tho manufacturers genqrally are well employed , and thoro is ovory prospect of firmness and activity for tho r emainder ot tno year . 'Jho announcement of tho London wool sales for the 4 th of November-has no * P ™ 1 «^< J « " <* effect on tho prices of wool , but tho tendency of so no descriptions used Hi tho nianufi . cD . iro of wrm olothihlr hits temporarily boon rntlior downwards . Mot EiStl ! h woe " hero is n ° disposition to reduce , colonial wools nro going steadily into consumption ,

  • Citation
    • Leader (1850-1860), Oct. 23, 1858, page 25, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/cld_23101858/page/25/