Baton Rouge tri-weekly gazette & comet. [volume] (Baton Rouge, La.) 1865-18??, 1867-11-07
THE SHOE PINCHING.

of country destined to suffer from the
agricultural drawbacks forced upon
her by a combination Of natural and
artificial causes. Although cotton in
this country no longer yields the
sceptre it once did in exacting the
universal homage paid to it by the
commercial and manufacturing in.
terests prior to the days when shoddy
war spectators, oppressive legisla-
ton and adverse seasons stepped in
to weaken and destroy It's production
here and stimulate its production in
foreign lands, yet the South is not
alone in her experience Of such dis
astrous consequences. The Eastern
States OF the Union those hitherto
great seats and centers of cotton
manufacturing, this side the ocean
are wincing under the infections i'm
posed upon the interests Of the coun-
try at large by the untoward evils
complained Of.
The general tendency to curtail
largely, if not to abandon altogether.
the culture Of cotton in the South,
and the disposition to increase in
several Of tho States, hom- facilities
for the manufacturing Of all the cot
ton that may hereafter be raised
within their borders, threatens still
farther depression to the manufac-
lures OF the East than is alluded to
by the Boston Commercial Bulletin
in the following article:
1.-The present depression in manu-
featuring stocks is only equaled by
that in manufactured products. The
shares of some OF our oldest and most
favorably known corporations arc
quoted lower than for many years
past. and not few Of them, at the
close Of the year, will again be com
PEELED to pass their semi annual divi-
dends or draw upon their reserved
capital. the earnings of more pros
perous times. The losses sustained
by several Of our cotton and wooden
mills, during tho past year, amount
to an alarming figure, and there
seems to be- no immediate prospect Of
a turn in the tide. Some have sus-
pended operations altogether, regard
ing this alternative as the least OF
two evils; while, with few e1cep-
tions, those which continue to run are
doing 80 at considerable present
sacrifice.
This state Of things is much to
DO deplored and, If long continued,
must have the effect to discourage
the efforts of American skilled labor,
and withdraw capital and en-.
terprise from several important
branches Of manufacturing industry.
The depression is evidently not
the result Of bad management on the
part Of agents, who are men Of more
than ordinary business sagacity and
great commercial experience. But
it is due to causes which could not
be foreseen, and to political and
financial exigencies that no degree of
prudence and foresight could provide
against.
"The course of events, since the
close Of our war, has been such as to
put all mercantile calculations at
fault. The great material interests
of the country. besides being bur-
dened with excessive taxation, have
been made the sport Of agitators in
politics and charlatans in finance
and political economy. There has
been no we'll defined and stable
policy in regard to those national af-
fairs which have direct bearing
upon the prosperity OF these interests.
With continual incertitude touching
the future, capital has been boarded
and withheld from those wealth-pro-
ducing enterprises which give en-
ployment to labor and put money in
the pockets Of the people Hence,
with an enforced economy on the
part Of the masses, both production
and consumption have fallen far short
of the usual average, and our. manu-
featuring industry has had to bear
the brunt Of this general curtailment."
The EPIDEMIC IN New ORLEANS.
a friend writes to us from New Or
leans, under date Of November 5th,
as follows: