Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1869-01-23


capitalists in the development of
this new and valuable branch of in
dustry, we are anxious that our own
people should, to some extent, share
the profits which must certainly flow
from well-directed investments in
manufacturing enterprises. We can
manufacture cotton fabrics cheaper
than they can be produced by New
England mills. That this is recOg-
nized now as a fact, is clearly in
ferrable from the recent heavy pur-
chases and investments in Southern
water powers and mill sites by lead
ing New England manufacturers.
We know that the Southern plan
ter has heretofore proved rather in
credulous upon the subject of pro-
itable manufacturing. Now, how
ever, with our changed labor system,
we find that planters are becoming
more interested in diversifying their
labor and productions. The GrOn-
icle and Sentinel states that the
splendid results obtained by the
Augusta Factory in that city, and
the hardly less gratifying success of
the Richmond Factory and the
Graniteville Factory, both but a few
miles from Augusta, have evoked a
liv ely interest in the subject among
the planters, and that paper hopes
soon to be able to chronicle the Or
ganization and establishment Of sew
eral new milling companies. The
South must devOtemOre attention to
and employ more capital in these
enterprises. By a proper and judi
cious system she can speedily regain
her influence and prestige in the
government, and restore her people
to their former and even greater
prosperity. All that is needed, is
for her men of capital and influence
to put their shoulders to the wheel,
and the cause of Improvement and
progress will move forward with
ease and rapidity. The Richmond
Wing, in a recent editorial, gave
some good advice upon this subject,
and collected valuable statistics
showing the value and importance
of manufactures in the South. The
following speculations are appro
pirate and well timed:
ave believe that the spirit which
is to work out grand results has
been aroused. The South has ac-
complished wonders in rebuilding
her lines of communication and re
storing the ravages of the war. Her
great staples are again taking their
commanding place in the commerce
of the country. Her mines are be
ing developed, her water power
utilized, and her forests of timber
turned to account In addition to
these and other elements of wealth,
the manufacture of her raw material,
and especially of cotton, is destined
to become leading industry and
source of enormous profit. From
carefully prepared report submit
ted to the Cotton Manufacturers
| Association at a meeting held last
fall, we learn that the number OF
mills in the Northern States is 479 {;
number of spindles, 5,768, 228; av-
erage number of yarn, 275 con
sumption, 343, G45, 950pOunds; con
sumption per spindle, 1887 pounds.
In the Southern States, number OF
mills 60; spindIes, 1919, 772; average
number of yarn, 1918; consump-
ton, 2S,Ol2,7GG pounds; cOnsump-
ton per spindle, 1907 pounds.
1.-The greater consumption per spin
| die in the South is due to the fact
that work may be done more unm-
| terruptedly in a Southern than q
| Northern climate. The fact Is sig
nificant and important.
1--WE are confident that before
another decade there will be very
different showing in cotton manu-
featuring statistics. AT a recent sale
| of manufacturing stocks in Boston
Massachusetts Cotton Mill stocks
sold at 1OO74, Amoskeag Manutac
turing Company at 1904, Merri
mack Manufacturing Company a
1925, and there is no reason why
similar stocks should not be equally
| valuable in Richmond and through
/ out the South. On the contrary
there are many and cOgent reasons
why, in the South, manufacturing
stock should be even more yaluabl
than in any portion OF New Eng
l land"
} That the establishment of manu-
2 featuring enterprises on a larg
4 scale would be of immense beneii
T. to the State, no one. will deny. |
= becomes in this view Of the case
D serious question whether a SCUM,
e policy would not dictate generou
7 fostering of manufactures to the eH
# tent, at least, of exempting capita
V employed in them from State, count
a and municipal taxation for a ccrtai
1t number ofyears. 1t is a fact littl
st known to the public, that manufaC
y turing capital is now, by law, as
n general thing, more severely take
lie than any other kind of prOpert,
Not only are the taxes levied by til
Federal government in many il
stances severe and unjust, but in a