New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1844-04-16

sand miles OFF, Then, you say, our sn,Ps io:e
the freight. But is that disadvantage Is II
not better for the respective consumers u VIM
the exchange on the spot, rather man COMP
each 10 carry his product across the ii,iaii''I
There lies the whole question, In an ec"ho''!1''
MIN, of view. I. is an exchange OF labor againS'
i,bor-and the free competition among INC iir
,aors nm one side. and the manufacturers ana
mechanics on the other will be sure TO cause .'ie
exchange to be made ON equal terms divioinS
tho necnliar advantages of their position, IN TINS
coun,-v or cbeap land, between them
srho Rostonisns however, arc of opinion, that
IL. oo,;,,o ,ystcm has increased our commerce
;mmcnselv. whilst it has changed its direcii'n'
Pho tradc between Boston and New-Of!eans ca
.I",.. srea,er amount Of tonnage than that be-
,,yeen New.York and Liverpool ever did. Up
wards Of fifty square-rigged vessels, mostly SHIPS
orthe LARGER class have arrived at this port during
the sixty.days of February and Marc''-one-''"''
OF Their cafgoos, at least consisting OF the pro
duce of the valley of the Ohio. Tins trace Is
the result of the protective system. How cou'l
we take their beef, pork, four lard and WOOL Ii
thew did not take our cacoes, cottons cabinet
wares, shoes, and other notions!
Your las, article is violent philippe, written
certainly in your very best style-but It is an a.
tack upon an obsolete idea, the oppression oil INC
Tariff on the consumers OF cur coarse c"''oas'
This idea has been dead and buried for more tran
ten wears. It's ghost occasionally makes lis APP
pcarancc, as in the present case, but not amongst
men OF business. It's aspect is always poltc.ai'
Its best quietus is visit to your annual eSiiioi-
ton of American manufactures at NibioS.
Tia, when the brains oor the man woad die
shall content myself at present with referring
YOU to the enclosed price current from the British
port of Calcutta received by the last steamer, Inc
publication Of which ] commend to your com
mcrcial department. You will find under ile
head of American DomestIcs, the enumeration
of upwards OF twenty different Gotten IahTicS'
known in that market, with the quality Oh each
wanted for consumption monthly, amounting 70
upwards of three thousand packages per annu'n'
with the remark that the quantity VIII aouolit -
increase materially. These goods pay an extra
duty over British products, and still INA reg IL
lar market amongst the laborlng poPu!ation' I II,
there he a stronger proof that the same class ni
men with us are not suffering under onr lover
prices
| cannot agree with yon tina. tho cotton mann
facturc brings no revenue to the Government. va
the contrary, it enables the farmer, who feeds 1t,
and all whose industry it sustains, to consume
foreign products. Why are our most Intciiigcnt
importers in favor of the SYSTEM but because
they find in our manufacturing towns and wi
lagos, the best market Tor silks ana otIier iuAu,
ries You quarrel with my use Of this term, and
cy,ou an acouaintancc with the nomenclature Of
Manchester ,roods, in which, | am unable to
a
lawns, YOU ask, uxuries Certainly. think
So WHY not , "Arc fus,ians Injuries :" Tins
is q generic term, including vclvcts OF winch
according 10 Mr.. Mckay's table. seveneiglIths
of the quantity imported cost over 50 cents the
souare ward and are not affected by the minimum
at all. AS for the lower priced goods, passing
under this general name in England, we have
made substitutes of our own, better suited to our
climate, both better and cheaper. The term !''s-
tans is not used in this country. You cannot
have learned ii from an Amcrican--t snaciis OF
Lancashire" imported for the use OF farmers
Ii is all humbug.
You mention an article called Orleans ~
know of nothing which passes by that name.
enclose YOU however, sample of an article OF
which large quantities arc made Tor the Ncw.Or-
leansmarket, which isvcryprobably the same thing,
which is stou;cr, and about halt the price OF a
very similar French manufacture.
You refer TO the enormous profits OF the walt
ham and Merrimack Companies. The Waltham
Company was the pioneer in the introduction OF
the pow er-loom, and has been emlnently success
Gl. You arc correct in your statement 0i us
dividends FOX The first seven years, but 1t docs not
give the whole story lis dividends for the last
ccveu wears have been only $50 dollars per share,
or less than G0-OO0 per cent per annum.
find the aggregate dividends for the entire
tvcntv. seven wears since it first made one. amount
to 1850 dollars, or II 2S.l00 per cent per an
nnm for the whole term Nor is this all. On
valuation of the property some years ago, 1t was
found that they had divided % per cent. OF the
capital-so that the share of 1000 dollars was
was only worth 750-which is rather above the
present market price. Taking this into conside
ration. the average dividends fall to ten 37-l00
pcr cent per annum-and no dividends were
made until about three years after the capital had
been advanced. send you statement from The
Trcosurcr's books, with the dividends made,
which YOU are at liberty to publish. Their
shce,inCs sold in 1916, at 80 cents. and were the
identical article Which said IN 1913 at 6I and
the advance of which 10 81, has called forth your
ELOQUENT burst of Indignation. Such has been tho
effect of competition upon profits and prices I'M
der the system which you so dcprecatc
In 1919, we imported cargoes of these goods
from Calcutta In 1913, we shipped three thou
sand packages 10 that port, and upwards OF
twenty thousand 10 China-the last accounts
of which are most encouraging to further IN
crease of this trade Has the world ever before
seen such revolution in commerce IN the course
of a quarter of Il century
| could furnish some facts and "reminiscences
connected with these two companies, which would
probably be interesting to your readers, but this
communication has been sufficiently extended
Should continuance of my correspondence be
agreeable to You may perhaps find leisure 10
furnish it, N. ~
Boston, ApnI6, ISL
From the Boston Daily Advertiser and Patriot
MANUFA,TURING PROFITS.
We have frequent representations IN certain
quarters that the profits OF the manufacturers are
enormously great. MIR. McDcfie in his late
speech in the Senate, made the following extra
ordinary statement:
shall now proceed show what the neFs>''~ 81 he
c,lcrS or the anount ol hounteN anHla
r 81, lac tla Ia iDt