The daily union. [volume] (Washington [D.C.]) 1845-1857, 1850-06-13

III
The pause in the market in April, growing out Of the
swindg operations the oher sde Induced the notion
that there might be fall in prices. In May the necessity
OF buying again appsrcnr Now, at the present
prices o! coors and goods, the profits have been much
diminished by the advance OF the raw material, with
corresponding rise in the iabrici but then the
bulk Of the cotton from which goods sale were
made purchaed at less than present rates. The
that goods have advanced in proportion to The
material may be discovered ia several operating
In the fist place, foreign competition has kept
profits from being exorbanr The scantness Of some ~
the havests, and the diminished foreign demand
farm prodsce have lesscned tho demand for goods
high prices from that region aided extent by the
California operations Tue southern and southwestern
trade has been by the Of manufactures
in that quarter, successfully occupying their ground on
more favorable terms, and also The provemen In
chinery, By which the or labor out
larger quantity Of colh thus coupteracting the rise in the
material extent AL these have operated
prevent the large corporations fiom realizing their
ticpated rs per poft But the complaints they send
up have oil policy in them than reaity--as thus
capital IL very rap idly accommodating In the country Ia
the hands Of mn and through bill and stock houses
immense flowing into the country, reducing the
rent Thus money today has been loaned on Ellie rail
road bonds ut per cent per annum Many mercantile
thar stock borrowing upon II these cheap
take up their paper and the prospect IL Of
continued increasing abundance As yet there is spec
nation afoot and this capital s seeking investment III
the idea should become prevalent that factories very
profitable, capital might flow in that direction
which would rjure existing investments than low
tariff Hence considerable portion of The ruin clamor
This is heightened and prolonged by such capap pol
clans Greeley Co. Il il evident, however,
thar while the manufacturers willing that these long
umpetrs should strain their discordant notes with
cry Of uin, they have not the design
capal should be drawn into rivalry with them by
acment Of high duties. Without duties at all foreign
petition is less 10 be dreaded than speculative mania
for manufacturing which would be pretty certsn es,
from enhanced duties, the loss Of considerable portion
fthe money invested, and the ruin Of old concerns
The construction of factories is already spreading the
South, beautifully and with sufficient rapd,y An art fetal
stimulus ia the same direction at the North would be dis
astrous; and those int rested by design
coursge Mr. Secretary Meredith, in his annual report
furnishes tables illustrative Of the material Advantages
derived from the present Tariff in the reduction of prices
which has been effected in goods consumed by the great
Of the people, He gives for instance the prices
which factories have sold their goods ia series
years Mr.. A. A. Lawrence son of the Minister 10 Eng.
land. in article in Hunts Magazine. recently gave table
Of the dividends earned by those factories II we com
pare the prices with the profits have results mani
e.t In insancethai CT the Northern Manufacturing
Company.