Wheeling compiler. [volume] (Wheeling, Va. [i.e. W. Va.]) 1829-1831, 1829-08-26
NORTHERN STATES.
VIRGINIA
Sc IL

hlonied Capital 3l,ll
1914
The amount thea, of capital required for
a manufacturing establishment in the north
ern states, compared with the amount re
CURED in Virginia, would be about as 100
to IS, or IA per cent less IN Virginia. In
England the quantity Of real estate would
commonly be less than IS here supposed,
steam engines there taking the place of
waite. power here, and consequently the
quantity OF machinery would be greater;
bat as real estate is there much higher
than with US, and machinery much lower.
the aggregate amount required IN that
country for every species Of capital, may
not very materially from that required in
Virginia. If we suppose the quantity Of
real estate requisite in England to be one
half at double the price, and the quantity
of machinery to be double al halftho price,
then both the aggregates and the several
parts will be precisely the same in both
countries.
Having thus compared, as accurately as
the insufficient data we possess enabled US
TO do ihe value of labor and capital in this
state with the value they bear in countries
which manufacture for us, let US now see
10 what proportions wages, profits and the
raw materials severally enter into the price
of the manufactured commodity In the
case of wooden manufactures we derive the
most authentic information Of their pro
portions from the evidence gwen to the
committee on manufactures. That eyi.
dence will furnish us with sufficient data
for making a comparison concerning fab
RIGS of the same material. and similar
quality, but concerning no other; as the
proportions vary both with the raw mater
al and the fneaess ofthe fabric. In some
manufactures, as 10 that of cutlery, the la
Dor Is comparatively every thing and the
raw material nothing, whilst IN others, as
m that of nails, the raw material is worth
more than the labor. In ordinary wooden
manufactures the raw material is half the
cost, in those ofcottoi it Is about a quarter.
Il may, therefore, very well happen, that
while a county, 10 which labor is high.
cannot contend with others IN which It IS
cheap, in the manufacture of Of the finer
fabrics, it nay successfully rival them IN
the coarser, not merely because tho first
cost Of the latter would be proportlOnally
less enhanced by the high price of labor,
but also by reason ofthe greater expense Of
transportation.
Let US now ascertain the proportion
which the raw material, wages and profits,
bear to each other in our wooden manufac-
lures, by average Of statements Of such of
the Witnesses as disclosed these facts with
sufficient precision.
To determine the value ofthe raw ma
terial, we have, in every instance, the
quantity and cost Of the wool from the pos
live testimony Of the witness, but the val
ue Of dye stuffs and other materials will,
in some cases, be computed at the rate of
eighteen dollars for every thousand weight
of wool, in conformity with data furnished
BY other cases.
Under Che head ofwages viii be compre-
Blended not merely those received by the
ordinary workmen, but also those paid for
peculiar skill, and for superintendent,
and other extra services. The whole num-
Der of persons employed in these selected
manufactures was $50, including women
and children.-They manufactured 4OS,
i0G pounds Of wool in year, and their
average wages vas upwards Oftwo hun
drod each.
The profits viii be &c. down at ten per
cent, on the capital stock. Although this
IS more than any other Of the manu-
/ featuring establishments, referred to, APP
pear to have made, & some even incurred
considerable loss, vet as a smaller profit
would not permanently induce our capital
lists to engage in manufacturing or having
engaged Ia the business, TO continue 1t. II
seems not too much. This will allow 5
per cent, on the cost of the real estate and
buildings; about Is per cent; on the cost OF
machinery, and 10 per cent, on the monled
capital. According TO the average taken
on the preceding principles, the annual
profits are Is per cent, the cost Of the raw
materials used in year, 81 per cent, and
the wages for the same time thirty one per