The weekly North-Carolina standard. [volume] (Raleigh, N.C.) 186?-1869, 1868-01-15

49, - As@'S-As-
!. The comparatiys prii pf9ducts given
in our Market report of the 1st inst. exhihit
a very considerable, though ny no means
uniform, reduction in current values during
the past year-still more, during the two
wears '66 and '67. This is not a merely
nominal reduction, caused by the apprecia-
tion of our currency. The premium on
Gold was not far from 33 alike on the list
inst. and on the LIST of January preceding;
and It was not much higher twelve months
before. Our current dollar is worth just
about rs cents, or three fourths OF its face,
n the money Of the world: and SOFT was q
wear ago: vet cotton has fallen. meantime,
from Sc to re- cents per pound. copper from
26 or 81 to 81 cents, Irin from 10 to ~ per
cent. and nearly every description OF Fabrics
has fallen from 20 to so per cent. There
were some stapies-WOol and Coal COLI
spieious among them-which had already
gone down to low water mark a year ago,
and SO have not fallen materially since;
while. on the o1her hand, most articles OF
Food PORK and Mutton excepted) are held
at high rates, because the last two crops
were below an average, not merely in this
country, but throughout the civilized world.
Still, taking all Things together, We estimate
that the prices of products will average 10
per cent lower now than they were year
ago; while Fabrics of Wool and Cotton
have fallen much more than that. We be-
|lieve that $50 will buy more cloth or clothing
in this City to day than SIS would have
bought one year ago, 54,4i.
OF course, manufactures have been rowing
against wind and tide during the last year.
Their stock steadily deprecated on their
hands; if they bought 100000 worth of
raw material and worked it up, its value
sunk to $75, 900 while it remained in their
hands, and they were often obliged to sell
at a loss. Hence, many concerns have failed;
while Others have used up the savings OF
past year and afforded their stockholders no
dividends. Such is the fortune of war.
They generally made money while prices
were rising, and must have expected to lose
whenever markets should be falling.
| Speaking generally. we may say that
those who sold their labor for wages had
the advantage of those who bought that
labor in 1857 The latter paid more for
the work than the prices obtained for its
products would justify. And, as there is
no prospect of an advance of prices. we do
not see how general and considerable re-
duction of wag''s in 1868, from the rates
/ paid in 1867, ca ii he avoided. Nor is there
any hardship nece ssarily involved in such
reduction The man or woman who can buy
clothing, Sc, much cheaper than last year
can afford to work cheaper than then. But,
however this nay be, it is plain that lower
wages are inevitable.
| Gov, Spragrie of Rhode Island lately as
sured the Senate that our country had so
fallen behind of late in the race for cheap
ness that no American product could now
be exported without loss, save certain OF
the products of our soil. This is going
quite too far We export Edge Tools,
Spades, Shovels, Sewing Machines, &C., and
have of late resumed-we believe, not to
much prctit--the expectation of Drills and
other heavy Cotton goods to China. Yet
the fact rema ms that the high prices created
by our great Civil WARM other words, the
diversions of our energies and efforts to the
work of destr action-have seriously crippled
our capacity to complete with Great Britain,
France, and Germany, in supplying savage
and semi-bar harous peoples with Wares and
Fabrics. We have ingenuity, skill, ma
chinery, and commercial talent; yet these
can hardly bear up against the TACT that
our manufat ;turers regularly pay twice to
thrice as mu ch for labor rs do their Euro
pean rivals. And beside, we have become
producers of gold and silver tor export
and nations that sell these rarely do much
at selling ma nufactures.
Ship-builG ling langushes among us; and
those who ought to know better repeat the
assertion ths t high duties on imports are
the cause Yet it would be difficult to show
that the cost of our sailing vessels has beer
materially increased by the Tariff. We
grow and cut our own Timber; Copper il
lower lin goId) than ever befure; Iron j.
not high, and has fallen considerably within
!, the past year. The real obstacle to CHEAP
ship building among us is the high wages
of skilled labor. Why are not the grumblers
honest enough to admit thisa
But, if ships could be built ever so cheap
ly, we presume ship-buiiding would still
languish, because ships are already abundant
We formerly exported nearly One Million
Tuns of Cotton alone. We now export les
than half that amount, and are not likely t.
increase As we have already said, a gold
exporting nation is likely to fall off il
, bulkier exports We dc not need so muci
shining as we once did, and OF course dc
: not build it.
On the whole, we predict that 1868 vii
be a better year for business than 1867 was
A good many who are now secretly bank
f rupt may become openly SO before anothe
p New Years; while thousands will incu
losses by ignoring palpable facts and al
tempting to carry sail as though the wind
e were not ahead but let our business me
, comprehend that prices have fallen and car
+ not he restored-let them graduate wage
and prices to the actual cont1ition-an
e they may 90 on safely if not very prosper
i ousy. Our wants are still great, and the
' must be mainly satisfied from home sources
: Let every one resolve to work for the bes
il wages he can get let our business men b
t content with moderate prices and sma
i profits, and we shall soon be once more o
> the high road to thrift and prosperity
! New York Tribune.
/ AFFAIRS IN THE SoUTH.-We quote tn
e following extracts from letter written b
: an active Republican. formerly an officer
r the service, but recently a resident of Tel
e- nessee, to friend in this city. The sugge.
/ ton in regard to the levees is worthy the a