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nTrK rfrB AT TRATVF PFPOUT GENERAL TRAD-b R±,VUX,±
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¦MERCANTILE AND COMMERCIAL.
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Untitled Article
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Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.
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Untitled Article
THE COLLIERS' STRIKE-YORKSHI RE . It is now thirty-three years , or thereabouts , sauce the laws to prevent combinations amongst worimen were repealed , and through this period , at least , the Legislature has given up as hopeless all attempts to prevent unions and strikes . It tacitly adftuts , therefore that it can find no remedy for such social evUs they prevailed under the combination laws , they have prevailed since , and they continue to prevail They are always to be deplored , and they . »^ , Lr . ™ r . f £ r nHvatitao-es 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 only rules to guide them are those of equity interpreted by their own consciences . Though one pays and the other receives wages , both are remunerated bv the sale of their common produce , and both Iiaye a common interest . Jealousy there may be , and is that one class or the other class gets too mu <; h of the profit of the joint undertaking , aitf it is precisely this which 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 h \< rcr \\ n < r of masters and men . There is no abstract rule for settling it ; it always depends on circumstances . 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 employ more hands and pay them well . . But it is equally certain that the masters have a strong interest in the well-being of the men . As they are healthy and cheerful they work better , and the emsakes omci uiem wcii
ployers , for their own , sM pay . 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 , thai 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
on the contrary , the growth of the capitalist ^ and his employment of labourers as the means of sapping and destroying the old system of feudal slavery ; but it the capitalists anxiously step into all the power of the old slave-masters , and treat the labourers like slaves , they will be considered as oppressors and as using the 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 , all the national charges which help to make the produce of the mines insufficient to yield large profits to the employers and large wages to the workmen . . . ,., , Both these classes have formed unions hostile to
one another . The masters are said to have nrst formed a union . All such unions are to be deprecated , whoever begins them . They are intended 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 ail 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 _ betwpftn man and man . Popularly it is supposed to
give strength , but the union which gives _ strength is already found in the existence of society , and these artificial unions , cutting off sections from general society / are really arbitrary bonds , to which some are always opposed . They are sources of weakness , not strength . VFe are sorry to believe that the masters in the case of the Yorkshire collieries began the unions , and they therefore set 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 .
being 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 chief advantages are generally on the side of the masters . Between 1 S 57 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 wages have only risen from 20 to 30 per cent . ; and any fall of price in the present year , which will most probably bo temporary , does not j ustify the immediate and proposed reduction of wages 15 per cent .
Wo continually hear of the improvulcnco of workmen ; let us not forget that masters shared in the extravagance and speculation of 1850 nnd 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 tliink , still fotchos in the market a pi'ico 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 arid mon must bo remunerated out of the price of the coals , and if both bo improvident , thoro is no good reason why the workmen should bc lho chiof or only sufferers when it declines .
In Franco and m tho United Statos capitalists aro accused of pressing on tho labourers—they grow rich by exploiting thorn , touso tho French word ; they mako common cause with tho Government against them . They rather squeeze out of tho labourers than pay themselves tho taxoa tlioy hand over to tho Government . Wo do not giro in our adhesion to theso accusations ; wo recognise
Ntrk Rfrb At Tratvf Pfpout General Trad-B R±,Vux,±
but their friends and' defenders point to the active demand for money now prevailing throughout Germany , to the ticklish state of the foreign exchanges , 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 hat rather relaxed . In yarns from No . 60 upwards there is no giving way ; for , being relatively cheapei
than the lower numbers , they are t aken with less distrust by those who want them . Lower down in the scale of mule , and generally in water , those whe have effected sales maybe considered to have donf 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 may be stated at | d . per lb ., being more in some kinds but less in others . During the same time no spinnei 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 yarns from No . 50 to the lowest counts , there was a difference of Id , per lb . against those who want to sell , in com . parison with what was practicable a week back . This is of course a rough average . The whole depreciation resulting from the four weeks of " suspended animauon' ^ may 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 fd . 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 decline in spinnings for the Blackburn market , particularly No . 32 cop twist , in which it now amounts to gd . 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
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 has recently been developed , ft 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 it is attributablto the main
trades of Lancashire , e - tenance 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 , nnd linen fabrics are still largely wanted . The hardware and iron branches aro firmly maintaining and extending the improvement which commenced two or three weeks ngo . Tho railway traffics are slightly loss favourable * but they still compare with a period of considerable activity ; consequently the 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 tho fact that traders aro not availing themselves of tho existing terms , though they aro now lower than they have boon for some yours past . Money is a complete drug . The banks and discount brokers aro glucl to got 2 per cent ., but ovon at tins price they cannot induce , responsible men to take more than thoir business really reqjiiros . Apparently wo aro a long way oft" the preuibted mania , ami wo see no signs at present ot tho bulk of commercial mon boing driven by the lovo of speculation from thoir existing safe position . Tho Bank abides by its 3 por cent , minimum , nnd consequently obtains no discount business . Of courso tho Directors aro blamed for persisting in this policy ,
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 Chinn , 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 the 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 and 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 7 lb . 40-inch shirtings . Persons in a position to form an accurate judgment—even among buyers—are of opinion that wo are not far from nn increase of demand , induced at once 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 . The 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 has not appreciably fallen off ? Tho manufacturers genqrally are well employed , nnd thoro is ovory prospect of lirmnpss and activity for tho remainder ot tno year . 'J ho announcement of tho London wool sales for the 4 th of November- has not produced much effect on tho prices of wool , but tho tomloncy of eoino descriptions need in tl » o iwumflietiiiro of warm clothihgh . s temporarily boon ml ; to * < ownwnrda . Jor EifgliHh wool thoro is no disposition to reduce ; colonial woolfl nro going steadily into consumption ,
Untitled Article
No . 448 . n—™ «» . 1858 . 1 THE ^ EAPER . ""
¦Mercantile And Commercial.
¦ MERCANTILE AND COMMERCIAL .
Untitled Article
GENERAL TRADE REPORT .
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Citation
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Leader (1850-1860), Oct. 23, 1858, page 1137, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/vm2-ncseproduct2265/page/25/
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