The daily union. [volume] (Washington [D.C.]) 1845-1857, 1850-03-07
COMMERCIAL.


rrsa oar Csz.msrcial csrrsspoadsnt.
New Yosx. March 81. p. m.
Among ,hs singular manifestations Of the day In relation
to general prosperity 10 the gratifying progress which
ufseurss particularly ocotton. making the southern
and western country. Within the last twenty years
pess change has taken place in the economy and facility
with which coasngendered steam be applied to
uacurng purposes La that period only have improve
In the science Of the engine enabled the
gneer extract double the motive power from the
quantity Of fuel blu, discoveries Of supplies Of the latter and
the means Of transporting Il have reduced its cost one
haif thereby placing four times the power at the COM
mand Of the manufacturer from given expense Of fuel
This great change in the motive power has been ac-
companied by others Of important character In all
that sppertans mils - and the result is. that ml
sites" and "water power" which consd-
cred Indispensable successful operations gradually
fell in importance the level OF steam, and have
far sunk below make the latter In almost all
preferable At the rst glance would 70 be Of lile
importance to the country II large whether steam water
drove It's mills but little reflection shows Il 10 be OF the
first importance With water power, New England pos
Ia umbng streams amid sterile rocks and profit
less not only immense wealth. but monopoly so
rigid as to compel the transportation Of the material
from the distant points its seapors be conveyed
by It's railroads the favorable points whence the goods
be conveyed thousands Of miles for consumption The
ofa this tribute paid by the TO the
industry of New England, put in motion by It's waer
power" She not however, satisfied that her ships
eno ed the eghs and her merchants the profits but she
wished TO add still more 70 her manufacturing gains, BY
excluding foreign composition by means Of high tariff
Her evidently increasing wealth stimulated emulation, and
the discovery Of almost numbercss coalbeds throughout
the country, At moment when the capacity OF these to
rival "water power became manifest, produced new
in the manufacturing history Of the country Factories
are now not confined to certain streams, where vii
lagos and towns must be built up 10 shelter the ope-
ratves They DO erected almost at any point
or in any city where labor is abundant, waiting to
be employed. To the infinite horror Of the manufac-
turing monopolists, "he loom is coming the side of
the crop" in manner which they lite anticipated,
when they employed their longeared nmpeters preach
the necessity of IT, large portion of the outlay Of
featuring capital and consequently Of the expense Of
duo ton, applied to the construction Of dwellings for
operatives, since but thes required them in the
neghborhood of water power To such villages COAL cot
ton and all supplies be conveyed cost of trans
portation but Is located everywhere
where COAL cotton, houses and labor abundant
and Of Is most successful where these advantages
in the highest degree combined Thus the Massachu-
sets Company at Lowell running 7 spndles costs as
follows per annumi
Coal, 400 tons, AZ IS $ls,50O
Wood, 100 cords, w., SOo
FsTh soa Bo. Ssa's g Lowell
Total fuel 1855
Rent, water power 10000
Total fuel and water power :. s27,575
Now, at Cannslton, Indiana coal at the mills 80
cents per ton instead of SO 26 and average Of
less, or mill Of 10000 spindles, which will
10000 pounds per annum, $4,000. Thus. such
mill, In diminished Of fuel and cotton, will
$50 OOO 10 per the capital compared with
Lowell power and, furthermore, il will produce
900 yards Of cloh-say No. IA sheetingswhich they
can sell per cost yard less than Lowell goods will cost
at the West, and yet realize per themselves
than the Lowell manufacturer obtains, making
S226 500 in their profits The general results are
obtained in all southern and western sections; but,
above and beyond this, the cotton which reaches
the southern mill has only less Of expense,
but of and detention attached It, 1t will be de
iyered clean, and iraveained. The effect OF this
10 already marked In the goods produced at the South
Carolina and Georgia mills. The effect Of anuaeturing
at the South must be immense saving, in general
point of view. Thus the cotton, from the momenthe bos
open until 1t Is spun, undergoes continued process Of
In the field considerable portion becomes blown
OUT soled, and stained In the ginning much
necessary sustained and when the bags begin
the ground. as il is kept white with their
along the muddy country roads the seapors where
samPng. rePscking, and mud, make further inroads,
both quantity and quality The unnecessary waste,
from all these operations, cannot be put down Mt less
than per which, such crop that Of last
year. 1870 900 lbs. WORTH had il been
fully saved, nj present prices, fifteen million two hundred
thousand dollars enough pay the whole freight earned
by northern ships In lis transportation IT. would have
been the aihe North invested in manufacture would
have furnished the capital to in motion spndles
exist the North This fact been discovered and
with the growth Of factories the SOUTH greater degree
Of hrft will manifest itself, tending accumulate capt.
tai, the Of more successful industry The north
ern secuon mas donbuess up 10 THIS moment had tue fu
advantage OF waterpower and the profits OF transport
alton BY transfer OF the iabrications the
South, the North will be driven to the production
Of finer descriptions, which the profit will ultimate
be gtet to the manufacturer, but the earnings Of
forwarders far less In relation labor Lowell,
singular fact that the character Of the population is almost
entirely changed; that IL to say. immigrant Irish have al
altogether supplanted American girls in the factories
The supply Of labor from this open section
Of the Union well another and proc,ioniss fur
nshed with this problems II the protective system OF Eng
land failed prevent the people from becoming starved
lies why s IL that under alleged low tariff these people
become thriving operaves1 In relation the pros
poets Of the business Gen. James, who has built OF
the beet New England stcam-mls, says CAS- to the time
for the erection Of otton.ms during experience Of
than twenty years In the business, have never wit
messed period more favorable than the present"
The money market has become gradually abundant
Loans stocks call to 30 days made at
per First class paper short dates is done a,
per Aucsioneers paper, TO 4 months, as per
There continues 70 be good demand from Boston,
both for money and bills and this fact was the principal
support OF the exchanges market The range for sterling
ia per cent.--nosily 81 ei-wi,h francs dull at
80 5B The packet carrcs some Si00,0oo-U United
States and New York stocks. Erie bonds Nc. The pay
OF mint certificates becoming prompt and