Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1850-11-08

sSsy~ Southern Manufactures. e.-s.a
The following article, from the Louisville Journal.
will lead to very interesting reflections in the minds
of the thoughtful:
The PRoGREss OF THE CoTToN MANUFACTURE
SOUTH AND WEsT.-It is now but a few years since
public attention was called to the vast natural adj
vantages at various points in the valley of the Msss
spp tor the manufacture of the great staple of that
valley. The essays and discussions the subject
that have appeared in this and other journals have
satisfied every reading and thinking man in the
country that the chief seats of cotton manufacture
are to be on and near the cotton and wheat fields
Already indications of the results of these
pinions in the condition Of Eastern mills. Ii few
years more English capitalists and operatives will
nave aseertained our superior advantages, and the
mills of Glasgow and Manchester will be gradually
stopped preparatory to a removal of money, men,
and machinery to points within our limits, where
more can be effected by the force of each,
we ask the attentive consideration OF the reader
TO the following extract from able editorial IN the
last Dry Goods Reporter:
p" At the present moment, among the producers OF
cloth in those scctons-namely the Northern and
Middle States-which have hitherto been regarded
as the chief seats of manufacturing industry, there
appears to be, and doubtless is, something less OF
that prosperity which, upon an average throughout
the whole country, is unusually marked; the value
of materials has risen dsproportonately to the
price of fabrics and, although the demand for the
latter is good, the supply is more than equal to it
That is to say, notwithstanding the raw material is
very high and manufacturers complain of Inadequate
prices they nevertheless buy and work up larger
quantity of material than ever before, in the
face of enhanced expectations OF rival productions
This is an anomaly which puzzles many; but, 1t we
reflect upon the causes which are in operation to
stimulate competition arrive at something like
solution.
awe may reflect that political causes in Europe
have operated tokeep goods cheap in Lancastershre
and by so doing, to promote large exports to this
side of the Atlantic at moment when more lncen-
tves to manufacturing rivalry have acted upon the
South and West. These are first, abundance of capt.
| tai; second, the influence of the improvements in
steam-power and machinery, emancipating factory
labor from water-p power localities and lastly, pol
cal motives.
"The South has abundance of capital evinced in
the fact that the crop thus far delivered say 2OOO
900 bales, has realized $lO4OO0O0O, against $751;
600 900 for 1920 900 bales last year. that is to say
quantity diminished by one-fourth, lessening to the
same extent the expenses of freight packing, weigh
ing &C., while rates of exchange are high, drawn
against high values, has enabled the South, as a
whole, probably to realize $3O,OOO,OOO more money
from this crop than from the last With these means,
factories have so multiplied that not short of 49,,
900 spindles in operation in the cotton States,
requiring 100000 bales of cotton per annum, and
every mail brings advices of some going up.
This rivalry affects the old established factories far
more new factories all armed with the new
est improved machinery, and will produce at proba
bly, 20 per cent better advantage The competition
from this quarter is every way calculated to dimn,
ish the old margin between the cost of material
and that of fabrics Therefore, those old consumers
who had reached the minimum margin at which they
could work. must give up shop and give place to more
competent operators.'
The editor of that paper has been a merchant anc
cotton manufacturer There is no better authority
f on this subject,
Here we see an excess of $3OO00O00 as the pro
duct of the cotton crop of 16495O that of 489
This thirty millions of dollars would put up at home
and equip enough mills to change from five to si2
hundred thousand bales Of cotton into cotton
cloth. Most of the money would be spent at home
for labor and materials and would consequently b.
reproducing cotton mills. The South can spare thi
feeling loss and deficiency of capital would fee
8 the stimulating influences of seductive home EN-
ployed capital In ten years, the savings in carry
cotton cloth, and food for the cotton cloth maker
in unnatural directions about the world, would bui
and equip cotton mills enough to consume entir
crop, and should then have monopoly of cottol
$ cloth we'll of raw cotton.
The people of the South would then be busy a
O home instead of running off to California. Tn
o stream of Pactolus would then run by their YER
f DOORS and they would find its golden sands richie
than those under the Sacramento
4 The reader will not fail to note what is stated i
f the extract above about the greater efficiency of
n new cotton machinery. Twenty per cent advantag
is enormous
It The Eastern mills have now the advantage of GU
It own only in system. This we can and shall 500
/ obtain, and then we shall hear no home croaking
o home cotton mills.