The Evansville daily journal., 1859-01-12
Cotton Manufacturing ON the Ohio. |


Cotton Manufacturing ON the Ohio.
While the cotton mills in New England
and through all the Eastern States, during
the past year, have been stopped, or running
at loss, we learn that the large cotton
mill at Cannelton has made clear profit OF
over $4,000 in the year 1858. This is
equivalent to dividend of ten per cent. on.
the cost of the mill to the present owners.
ssWe. learn that the balance sheet shows
this handsome nett profit after paying for
:. repairs, additions and Improvements more
than equal to the wear and depreciation on
the cid machinery. The proprietors are
about to add between $4,000 and $4,000
worth Of machinery to the mill, which win
increase its productions about one-third 1t
is a pleasure to hear the opinion expressed
by old and experienced Eastern manufactu-
rers, who have examined it, that this West
ern mill is the best managed establishment
lin all its departments-in the eoun-
try, and has the best and most reliable set
of operatives - s2@lai ~ '',-
This mill, which was begun as an expert
mental enterprise, and designed for a mod
ell establishment for the South West-and
which was built, and is still owned, princi-
pally, by Southern cotton planters-has
confirmed an opinion long entertained by
those familiar with the resources of the
Lower Ohio Valley, that it must. become the
chief seat of cotton spinning for the coun-
try.Ebs s GEgsEtu f-1&
Thatwe have cheaper power and food was
admitted by Eastern manufacturers long
ago but they contended that the habits of
eur people untitled them for the constan tand
close application required of operatives in
successful manufactures; and that we
could moi, till the habits of our. population
were changed, secure the labor and skill for
the management of large manufacturing es-
tablishments. These objections to manufac-
ton Mill has triumphantly refuted. When
ever confidence in the business of spinning
our great staple is revived by an increased
tariff, or by the increased demand for fab
RIGS, and new mills shall be projected the
successful experiment that has been tried in
our neighborhood will have powerful il
luence in turning the attention of manufae-
turers to this. region of the country; and
this pioneer enterprise may be the means OF
attracting many millions of foreign capital
to Southern Indiana and which may add
ten fold to the value of her lands and coal
mines. s4~si ger a-t
In the strifes which sectional prejudice;
are constantly fomenting, let us not forget
that, standing as we are, upon neutra
ground between the excited parties-invit
ing the skill and enterprise of the North tc
come and work upon the raw products ant
capital of the South, attracted by our cheal
power and food tosthe banks of our beadti
full river, we are allied to both by th'
strongest bonds of interest-and that oul
Office is to inculcate peace and conciiation
and, as an impartial friend and umpire, t.
uphold and defend the just constitutions
rights Of both sections. Upon the dividin,
line between the North and South, we ar
tional feuds and disunion we are also, b.
drawing to our positions the surplus wealt
of both sections, the parties to reap til
richest blessings from the harmony and pen
petuity of the Union. Our politics are
therefore, conservative and national.
The large profits of cotton planting
giving to the South vast surplus capital i
cash, which isseeking investments in Nortl
ern enterprises. An extensive stock broke
says that more than two-thirds of the pei
manent investments made in stock in Wa
street within the last two years have bee
made on Southern account. We have bee
accustomed heretofore to look to the Ea
for money to sustain our new enterprises
We shall learn soon to look to the South fl
pecuniary means, where money is becomin
most abundant, and where it is accumulate
in large sums in fewer hands, and where
consequently, more accessible. Men who!
wealth is derived from the earth in annu
sums of $50,000 to $780, 0,o0o, are more liber
in their dealings than men who have a
cumulated by one and two per cent clppin
from every dollar that passes through the
hands from the cradle to the grave.
Senator Fitch at indianapolis.
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