New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-02-04

We have thus, notwithstanding the vast in
crease Of population, gone back TO the point ~
which we stood three ears since. Nor Is this al
There has been a very large diminution IN the
quantity raised nearer 70 market. The Hooks ol
Vermont, and Of the Eastern States generaDy'
have, it is understood, greatly decreased
Now. the actual increase Of five years anoer
the Tariff Of $40. was more than 800 per cent
while there is every reason to believe that since
that time the actual oimin0tion OF production mas
been very large indeed. The high prices OF tuls
wear have induced the sending 70 market OF al
that could be found and the Cincinnati GaSsfte
informs Is. that west Of that point, there do not
now remain 100000 pounds, whereas IN io,mef
years large quantities remained behind. i
obvious then. that so far az the wooden nanulsc-
ture is dependent upon the supply OF domestic
wool IL has actually diminished while 50 lar PIG -
depends upon foreign wool, II has very greatly
declined The average import Of foreign wool, IN
ls45 and 1916 was a5oat % millions Of pounds
the import having trejled, while the domestic
production so greatly increased bat now that
the domestic production has feceded, import mas
also receded. The average import OF SAG and
ls49, was only 100000, and that oil l-'V mas
been Is 100000. -.
The duty on wooden goods was reduced with
a view to remove a tax which was supposed 20
diminish consumption, but so far as the domestic
production is concerned IL IS clear that the actuM
consumption has very largely diminished not
withstanding an increase Of numbers exceeding
the total population OF some important Kingdoms
of Europe. Such being the case, we may adyan-
tegeously inquire if the import OF foreign woolens
has made amends for this extraordinary deficiency
The average import Of cloths and cassimeres in
1915 and 1876, wss..-.------..-...-.. 4,oO1'OOO
That Of l-lg was. 4,550OUJ
That Of 1850. o,l-4,5yU
The average import Of wQolen goods OF all
kinds, in ls45 and ls46, .-.-------.lO J5O,OOO
That Of 1919 was.......-....--.....l ,fO4OUO
That OF lc50....--..-.-. J,3o'iOOv
The average price of wool, when manufactured
is prabably one dollar per pound. We have,
therefore an excess Of foreign manufactures
equal TO fee millions, and those not pad for, and
a diminution in the domestic manufacture equal
to fifteen millions. Ii is obvious that the actual
quantity of wool consumed, is less by many nil
lions of pounds than it was three years since, al
though it must have doubled in the period OF the
existence Of the Tariff OF 1912. The object OF the
change Of policy was that of Increasing the ratio
of the grOtrtt If consumption but 1t has not only
not accomplished that object but 1t has actually
reduced the consumption OF iron and OF cotton and
wooden cloths 70 q far less amount for p0pala
ton Of "a millions, than it was under the Tariff
of ls42 for q population OF 81 millions.
Production has diminished, ana there is glut
of everything. COttOns accumulate for which
there is no demand. Woolens are languid Iron
is piled ND until the quantity unsold amounts 20
hundreds ofthousands of tuns. The coal miners,
as a body would have been ruined, but for q
freshet that cut off from market many OF the most
productive mines and so does the "glut make
its way through society, each step providing for
a new and further one. The closing OF furnace
stops the demand for cottons, and the stoppage of
the cotton factory diminshes the demand for IRON
The late cotton operative is unable to purchase
wooden cloth, and the wooden mill is closed
thereby depriving the wooden operative OF the
power TO purchase food clothing. B ad as it is
now, We have as yet seen little more than the
commencement Of the operation.
If we now compare the production OF iron, coal,
and cotton and wooden cloths Of 1917 with that
Of 1912, we must arrive at the conclusion, that
the actual product Of labor and capital, as shown
in the difference between the value of the raw
material with that of the manufactured articles,
was greater in the latter than in the previous
year by at least $40, 100000
Ifrext we add the amount oflabor
applied TO the creation of the cotton
and wooden mills the furnaces, the
rolling mills, the opening of the mines,
the erection Of machinery, and the
building OF houses, &c. &c. required
for this enormous increase of manu-
features, we shall be safe in putting
II at OBSERVATION-DISCLOSURES. 5VUVIOUO
Making total excess Of s47 over s42s 600 GOO
If now, We make a similar examination for
1850, we can scarcely fail to arrive at the concu
sion that at least one.third this growth of manu-
facture has been lost, say 900 900
While throughout the country there
is no demand whatever for the erection
ofmills or furnaces or for the opening of
mines, and, that there is here further
dminution in the demand for labor, to
TO the extent Of OOOO,OOO
Making an actual diminution of $780, as
compared with 1s46, Of no less than. 20, 0000 900
IT, next, we suppose that in the four years that
have elapsed since the Tariff of ls46 went into
operation, the growth would have been no more
than it was in the years from ls43 TO ls47, during
which the nation was slowly recove ing from the
effects Of the compromise Tariff, we should have
an excess of at least $500 900, 900
Whereas the actual increase cannot
be estimated at more than... 10000 900
Making the diminished productive.
ness of labor. 1920, 600, 900
in these few branches OF employment and it is
very small calculation, for it is the characteristic
of increased production that each year prepares
the way for Hetr and larger increase while, with
diminished production, each successive year is
marked by an increase ~ the ratio Of dtminutiOH,