NOTES AND COMMENTS.

New Zealand Herald, Volume XXXV, Issue 10664, 31 January 1898, Page 4

NOTES AND COMMENTS.

Sib Wesitss Reid, an ardent Liberal* '* trades unionist, who has often fought the battles of the unions in the past, has published his opinion on the engineers' strike, as follows:-" Nothing can affect the fact that the struggle was in the first instance forced upon the employers through the intolerable line of conduct pursued, not by 'the men as a body, but by I the ; officials of the unions. For years past) the masters have been • masters in name only ,in their own workshops) and the worst of it has been the fact ; that the real power has been vested, not in the hands of the workpeople in each particular shop, but in outside officials,' who have known nothing and cared nothing for the circumstances of individual employers or employed, but hare been bent upon turning the workmen into a well-drilled army, moving at tho word of command from the headquarters of the trade. Against this tyranny, which baa done incredible injury to English trade, and has hurt the workman almost as much as tho employer, it is impossible to protest too strongly. It looksas though there would bo no relief to tho present situation until the unions haVe chosen new leaders and reverted to their old policy."

While the gross earnings of' the English railways have been large during the lasb half of the year 1897, the Statist thinks it unlikely that the large companies will increase their dividend distributions. In the first place, wages are increasing, and a largo portion of the growth in earnings will bo required to pay the extra cost of labour. Secondly, their employees are asking for further advances in wages, and it is possible that before the question is settled difficulties might arise, and consequently the companies should bo well prepared 'for emergencies -, and this may induce them to spend money freely while they can, in order to be prepared for con tingencies. Thirdly, the heavy lines will next year have to meet the competition of the new line to London, and will therefore be anxious to have their lines in such condition that in the second half of 1898, when comparison will be made with the second half of 1897, they will be able to work as economically as possible. Hence, therefore, should there bo no further labour difficulties, the big companies are nob likely to pay much, if any, increase in dividends; while, should difficulties come, their lines will not be in quite so good a condition as they would otherwise be. If the gross earnings continue to expand at their present rate the aggregate increase of the twelve principal lines for the half-year will reach as much as £1,310,000, or 3i per oonfc., a truly magnificent result when last year's large gain is borne in mind.

In order to overcome the dispute between Great Britain and Russia over the indemnity loan the Chinese Government propose that oach shall take half the loan, fixing its own financial terms, the other conditions to be adjusted between themselves. The withdrawal of the British warships from Port Arthur has created the impression in China that England is irresolute, and Russia is said to be inspiring rumours in Peltin that the ships were withdrawn under Russian pressure. Tho progress of the gunboats operating on the Nile has been checked by the fire of Krupp guns in possession of the Dervishes and chains across the river. At a banquet tendered to President MoKinley by American millionaires, the President said he adhered to the St. Louis financial plank. This announcement was received with great enthusiasm, being looked upon as a pledge by Mr. MoKinley to carry out his gold standard pledges. The engineers' strike is over at last, the men having now formally agreed to resume work, which is said to be plentiful, on the employers' terms.