AMERICA'S SAD DAY. GHOST OF FINANCE AT THE FEAST.

Evening Post, Volume LXXV, Issue 36, 12 February 1908, Page 3

AMERICA'S SAD DAY. GHOST OF FINANCE AT THE FEAST.

The American Christmas, comparatively speaking, has been far from merry, writes a"' New York correspondent. Everywhere tho ghost of retrenchment, is stalking at festive family gatherings' The spirit of economy invaded even the functions of the millionaire pet, which, with the solitary exception of Mrs Daniel Guggenheim, who at the St Regis Hotel is giving a magnificent dance on roller skates, refrained this year from indulging in the passion for extravagant eccentricities. For the first time E,ince 1893 the Stock and Corn Exchanges this year omitted" the wild "can-can" with which they invariably before closed business for tho Christmas holidays. ' Instead of distributing bonuses, banking houses, Trust companies, and the great stockbroking firms announced to their employees a goneral reduction in wages, amounting to 15 per cent in tho case of men earning less than £200 a year and 20 per cent, in the case of those whose salaries exceed that amount. Cuts hardly less severe have been made by the Erie Railway, in agreement with the other great railways, who are all about to follow suit. "It is a sad Christmas to us all," one of the employees observed to mo, "but I suppose anything is better than losing our jobs." I noted a few days ago the general falling off in the contributions to charitable societies. Now this observation is emphasised by the action of the directors of the United Hebrew Charities, one- of the largest Jewish philanthropic organisations in the country, in closing its doors, after it had exhausted every expedient for raising the money necessary to continue its benevolent work. Yet, despite these gloomy tidings, Americans are making a brave effort to observe the season in a spirit of optimism. Mingled with admonitions to eschew tho besetting national sin of extravagance, this spirit has been enforced to-day from every pulpit as well as in the leading articles of the great newspapers. Thanks to the magnificent exertions of the Salvation Army and various wealthy private individuals, thousands of poor families have been furnished with free dinner baskets. '"No one in New York," Commander Eva Booth assured me, "need c;o without a good meal." When the nnd- of the day arrived, however, sho h<arncd that the aimy had brcu obliged for lack of funds to turn away 5000 of 25,000 needy applicants.

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