Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1868-01-27
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another column, suggests nhother oV
lection which ia as common as II 10 I'M
sound that goods made here canno
compete in price with foreign goods OF
sale in this market He answers hi
own objection, however, in the sam'
letter, when he says he has seen as goot
articles made here and offered at as low
prices as any from the North, and ye'
the people would not buy them. 1t il
very true that our mechanics and manu-
featuring establishments have not
hitherto, as a general thing, been able
to make and sell articles at as low prices
as foreign goods could be imported for.
But why2 1t has been because capital
was devoted mainly to the raising OF
cotton and the purchase Of negroes. 1t
costs q poor man as much to live as
rich man may live for If he chooses.
And he can get his living by small
business at high prices. which, for home
productions, few will always be found
TO nay. A few will go to the cabinet
maker, the carpenter or the founder to
have things made to a peculiar notion;
some will give fifty dollars to the tailor
for coat, and some twenty-five to
boot maker for q pair of boots. But
that sort Of Blu mess must necessarily be
very limited. More or less Of it is done
in all cities and towns--even in New
York-at prices double the rates OF the
more extensive manufactures or the
stores. 1t proves nothing to say that
because this custom-work cannot be done
here at the retail prices of the shops the
articles on sale there cannot be dupli-
Gated easily with manufactures and
moderate capital engaged in producing
similar articles to those on SALE If
merchant were to value q stock just
purchased in New York he would add
ten FER cent. to the invoice price, and to
heavy articles much more. So that here
is margin to begin with. To take
the single article of cotton, it costs now
twenty per cent. of what is grown here
to put it in the New York market. And,
after it is manufactured and sent back to
us in the shape Of calicoes, sheetings and
shirtings, we pay another ten per cent
on the value of the goods according to
the merchants estimate)-thus giving
away thirty per cent. of our earnings.
Aud this is not ALL 1t so happens that
one pound of cotton will make three
wards of common shirtings. And thus
it turns up, that, if we pay the merchant
ten per cent only, as the cost and
charges of getting the cotton back again
in the form of shirtings, and pay him
one cent yard for that purpose, we
really pay three cents on every pound OF
cotton which we send away. In this we
have no reference to the cost of manu-
featuring, which we pay, of course, send
ing our resources out Of the country and
supporting others with means which
should be used to support ourselves.
Nor have we reference to the customary
profit which the merchant must have to
carry on his business. And thus, as to
cotton, it costs US now five cents pound
to nut itin New York in the first instance,
and three cents more to reproduce it here
in the form of the cheapest and plainest
article manufactured from tor in other
words Independently of all the profits
of the manufacturers and jobbers in the
Northern States, all that sticks to the
fingers of the many who handle it, in
transitu, and the profits of our mer-
chants here) we pay out eight cents on
every pound of our cotton, and SO much
leaves the city and the South forever.
Eight cents gonel Now, will any one
doubt that if we save that eight cents,
we can make the goods here, uhen the
same article con be manufactured for
screen cents per yard in gold, out and
out, all cost told. Besides, many of the
heavier and coarser articles cost us
more in proportion to their value than
those selected-the freights being larger,
and the cost of manufacturing proper
tionably less, Now, if coarse sack and
sail cloths, toweling, towels, shirtings
and sheetings cannot be manufactured
here, and our meaner grades of cotton at
least yield more profits if consumed at
home than results from sale and repur-
chase by the old process, we shall thank
some one who may know more about it
than we do to give us the reason why,
To manufacture the lighter fabrics,
the laces, cambrcs and silks we receive
from abroad, must be the work of time,
But we can begin, and begin proftably,
with the coarser and articles of small
intrinsic value, when compared with the
cost Of insurance, transportation, etc.
Even now our finest cottons 90 to
France, because the mills of England
cannot compete with those of that
country in the manufacture OF
cambrics, laces. etc. New England
began with the manufacture of coarse
and common articles. She has gradually
improved her machinery, aud is now able
to underbid the mills of England for
many articles Of the finer descriptions.
To say that we cannot begin, as did
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