The republic. [volume] (Washington [D.C.]) 1849-1853, 1851-04-02
nd in the following year they reach

and in the following year they reach
ed the enormous amount Of ....... l6.325,9S7
having increased about three hundred and forty per
cent. in the short period Of five years! With q
growth rapid it difficult to create mills with
sufficient rapidity to work il up, for, but short
time previously all those connected with the WOOL
len manufacture had been nearly ruined; and hence
It Is that we find the price to have fallen to 29t
cents in 1845. and 24l cents in 1916; and yet, in
almost every case in which any portion Of the crop
was exported, il was returned-thc domestic market
being better than any foreign one to greater ex-
tent than the return freight. Atwhat prices. then
could this wool have sold, had the domestic market
not existed n 49, ffis ftfiattgrr
1t would seem clear that the labor applied to cu-
tivaton had not only not diminished with the app-
cation of aborto the conversion of the vast amount
OF raw materials into cloth, iron, fuel, and other
commodities required for the of man. but that it
had increased in ratio that absolutely scondcr-
Jui; whereas, in the previous period, the produc-
tiveness of agricultural labor had greatly dimin-
ished. a. tho mile, and furnaces, and mines
closed KS
Prices, however, were low, and that such should
be the inevitable result of system that
had for ycars tended to drive the whole labor
Of the country into the creation Of new FARMS new
plantations, and now roads, upon which to carry
their products. The road makers had been COM
PEELED to turn farmers, and the market for their
products had now again to be created, and this
worm required time dhs ays.nge Sr9P OF cStton
of bales, that OF tho four last years Of the compro
mise tariff, and the annual growth of domestic
consumption was but about 100000 bales. There
were, consequently 400 900 additional bales to be
exported, and hence the fall in price Had the do
nestle market not grown, there would have been
500 900 to be exported and The price scold have been
tsoo cents per pound losoer. the tariff of 1842
that saved the planter from actual ruin vs.
The price OF food was low. Il could not be 9th
crwisc. For years the domestic market had been
crushed, and for years tho labor OF the country
had been driven TO cultivation, and the effect was
now becoming visible in tho vast increase Of pro-
ducts, but the market for them had to DO created.
Wheat sold in Philadelphia, in $685. at an avcra gs
price Of rs cents; in 1884, at SO cents; in 1S45 1.-THE
crop was unusually large.) at So cents; but in
ls46 IL rose to 81 OF, being within 90 cents high
M the average Of the year Of the faminei in Europe
Consumption was rapidly ovcrtaking production.
Prices were low; but what would they have
been, with all this vast production, but for the Gre
alton of this vast domcstic market? At what price
would cotton have sold in 1876, but for the i'm
mense domestic consumption At what price
would the food have sold, but for the consumption
in mills, and furnaces, and mines? AT what price
would this wool have sold, had the farmers been
compelled to export it? ff raa.sss tat r.it
Wool was low. IL could not be otherwise. For
years the woollen mills had been closed, and moro
time was needed to create the new mills to absorb
the now supply Of wool than to rnise the wool.
Iron was high. 1t could not be othcrwise.
For ycsrs We had closed our furnaces that
we might make farms and roads. Those made,
the production of food and cotton, of tobacco
and rice, grew rapidly; and then arose a do
nand for iron, and we had TO pay the price liked
BY those who had the monopoly of the supply-thc