The Massachusetts spy, and Worcester County advertiser. [volume] ([Worcester, Mass.]) 1825-1831, 1827-01-31
FLOR the Massachusetts, Spy.1
WOOLLE.N M.4NUF.4CTURES.

WOOLLE.N MANUFACTURERS.
Mr.. Editor-While you appear to be
a very strenuous advocate of high pro-
tecting duties, the liberaliy and impair
TALLY with which you open your col
umns TO both sides, have induced me TO
submit some practical reflections upon
the subject
Your correspondent "U. S. A." says,
+" Ia is agreed by the Oldest merchants
10 Boston, that broadclotbs and woollen
goods generally, such as are maaufac-
'u'ed here, are much lower IN price
than was ever known; and no other rea-
son can be given, than the increase of
American manufactures. The consum-
er can buy better cloth Of our own
manufacture for 81 per yard, than he
could Of imported, before we had manu-
features, for 81" Before we manu-
featured, saiinetts were imported from
England and sold for So: SO per yard.
Americans, by competition and invent
ing The wa:er-loom, have reduced them
of as good quality, TO rs cents per yard.
| am not one of" the oldest merchants
of Boston )" but have had, during the
last seventeen years, fair opportunity
to know the prices of CLOTHS in this mar
kef, and my opinion, which is supported
by the opinions of others of longer ex-
PerienCe is, that This statement is some
what exaggerated. II is moi, however.
my purpose to confrovert his assertions
upon this point, The fact, that there
has been a great reduction in the prices
OF cotton and woollen fabrics is unques-
tiooable. But, it appears TO me, that
The assertion, that no other reason can be
given for this reduction than "the in.
crease of American manufactures" or
the effect of our own policy, is not true,
and 1t is, at the same time, well calcu-
lated to mislead hose who merely "sk,m
the surface" o. the contrary, il seems
obvious TO me, that this reduction has
been the consequence of circumstances
having no relation TO or connexion with
our policy, unless it be true that our
policy may have oounteracted the effect
of these circumstances.
There has been great reduction in
he prices of articles which we manu-
facture; there has, also, been a great
reduction in the prices of articles which
we do not manufacture, and which are
not, therefore affected by our competi.
lion. Ii IS natural then TO infer that
there may be some other cause for this
result. The article generally referred
to, and most confidently relied upon. to
prove the effect of our own manufac,o
ries in the reduction of prices, is cotton
cloth. Now il appears 10 me that The
principal cause of the reduction, 10 the
price OF this article, is the decline IN the
price IF the raUV material. MANUFACTURE
ers have paid, in this market, AZ cents
per pound for upland cotton, and from
50 TO 70 cents per pound for Sea Islands.
II is true that these extravagantiy high
prices were obtained but for short
time; but from 1913 10 1918 manufac-
turers paid from 25 10 36 cents Der
pouod for cotton. The average price
was about 80 cents. From reference
to actual sales during the eight succeed
ing years, | find the average prices n
be nearly as follows In 1919. 1qlI
cents; 1920, II cents; 1921. 16 cents
1899 and 8, Is cents; in 1926, in con.
sequence of overtrading or rash and
ruinouS specalatioos in the English mar. |
ket, l64 cents; in 1895, III cents
This is real, substantial reason for
the decline 10 the price Of cotton cloth
and it is cause not at all;dependent uu.
on the establishment of our factories
on the contrary, manufacturers repre-
sent TO the southern planter that these
factories create a market for their nro.
duce, and, consequently, tend to en-.
nance its price. This very material
fact, the great reduction in the price of
the raw material. is not noticed bv
U. S. A. who taxes Publius with neg
lect of facts. Another cause is the i'm.
provemen's in machinery; and another
cause is the reckless speculation and
'vertrading in England, which has re.
'nited In almost unprecedented embar-
-assment, and rendered sacrifices newt
,ble.