p. 93 | Untitled article

The Seventh-day Adventist Publishing Association · Battle Creek, Mich. · Third-day, January 21, 1868

The Prevailing Distress.

From the Boston Journal.

THE employees of the Pacific Mill, at Lawrence, (Mass.) have received notice that after the 15th inst. a reduction of fifteen per cent. will be made in their wages. A reduction was made some time since in the wages paid at the iron rolling mills, and accepted, as the hands were convinced that it would be better to keep the mills in operation, and thus secure employment, than to refuse a reduction of wages, and thus oblige the mills to close. The step taken by the Pacific Mill will be followed by others, and indeed a general movement on the part of manufacturers, in the present depressed condition of the market, is inevitable. Some of the manufacturing corporations which paid a dividend the present month, drew upon their surplus funds, and it would be better for the interests of stockholders if the mills were to close until trade revives.

From the Troy (N. Y.) Times.

No one can form any idea of the number of persons that seek work daily and cannot secure it. Hundreds are out of employment in this city, and merchants and others who employ help are looking to a reduction of salaries. Provisions generally are rising in price, while a reduction is taking place in the price of clothing.

The New York World continues to give statistics of the number of workingmen out of employment. It recently stated that 50,000 wanted work in New York city, and 10,000 in Brooklyn, and now says that the depression in New England throws out of work at least 160,000 people—10,000 in Maine, 20,000 in New Hampshire, 30,000 in Connecticut and Rhode Island, and 100,000 in Massachusetts.