Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1858-03-11
100, 1885, 07 27s, 1907 ,71s las, I54, 800
556 ,S71 6O.U7S.352 .I2l .47S

4
In commenting upon this exhibit, the F.
conomist takes the following sound and ra
tional view of the industrial interest Of tn,
several portions Of the country:
This large increase of southern articles
of export has taken place upon the natura
increase of the hands employed, and with
ont the outlay of any considerable capital
The crop Of 1857 was but 5 per cent. ovel
the average ofthe eight years, but it brought
20 per cent. more money. It was about
the same in. quantity as that Of 1854, but II
realized $42 ,0O0, 600 more money. Nearly
the same hands, laad and money capital have
realized this large increase in value. Al
the porth and west an immense amount oil
capital has come from abroad, and have been
re-invested in those industries that have
aided by war and famine years abroad
produced the increase in the surplus ex.
ported. The immigrants, with their wealth,
who have flowed over the north and west
in such numbers, have to enhance the ex-
portable surplus of the country in the same
proportion that it has been enhanced by the
mparatively stationary numbers and capi-
tai Of the south. California has largely in.
creased her exports Of commodity which
is OF no value except TO export. But the
process Of that production has absorbed as
much capital as the export Of gold has
brought back into the country; that is to
say, if we have got cloths, wines, sugars
and teas from abroad in exchange for the
gold, as much of other industrial products
has been been consumed in the process of
digging. asa| -'~'
In the West, in the location Of new lands
and the building of new roads and towns
and cities, has absorbed as much capital as
has been reproduced. The manufacturers
Of the North have doubtless found the means
of extracting from the South much of its
increased means, in exchange for manufac.
lures, and the South has generally paid up
sufficiently well to compens ate for Western
deficiency; but the South has now reached
a position in which she no longer depends
upon advances. The article of cotton, on
,rhich the ,corld depends, is her monopoly.
and she has The capital 10 govern il. The
Vaccinations of Threadneedle street have
been found powerless in the last two years
to affect the value. The combinations of
spiHners are Of no anal; the importation
pants srceed the productive po,cer of the
South. The vast sums invested in machin.
cry, on which hungry crowds depend for
support, are valueless without sufficiency
Of that raw material, and the supply Of ma
terial is close monopoly. The course of
events has fastened the spinning Of cotton
far beyond the production Of it. and many
factories must stop until the general level
Of goods rises, to meet the altered position
Of the raw material. The best appointed
factories, with the newest and most modern
machinery, can still have a margin for the
fine goods, but the old factories, which run
on the coarser numbers, feel the advance
in cotton first, and must find a remedy first.
The foregoing figures are well calculated
10 show the immense resources of the South,
and 10 prove also, that with proper efforts,
at least ore steam line could b. successfully
willis the direct trade with the
old world might be materially augmented.