The Camden journal. [volume] (Camden, S.C.) 1866-1891, 1871-05-25
From the Charleston Ne,cs.
Manufactures.


"There is is too much cotton planted.
This is the cry which. has mot the ear, sea-
son after season, for the last four years.
Oycr-production brings depression ofprices,
and whenever cotton rules below certain
figure stated variously at from l to IA cents
it ceases to be remuneratiye. Public opinion
throughout the country has accepted as
fact, therefore, that it is q suicidal policy to
plant too much cotton that in diversity Of
Industry lies the future hope of the South
Rice and sugar, we believe, have paid the
producer very well during the last few years,
bytthe cultivation of these staples is confined
within prescribed natural limits. Lumber
and naval stores, in favored localities, have
given profitable employment to numbers
SO have several other minor industries. But,
wesare- told, this is net grain country.
1t scarcely pays to plant grain for home con-
sumption, to say nothing Of cultivating it for
the market. And it may be so. We are
not in position to prove the contrary. If,
then, a further increase in the production OF
cotton is undesirable, and the growth Of
grain and live stock cannot be rendered pro-
ftable, it becomes us to look out for other
avenues of emolument, and turn our energies
and industry into new channels. Manufac-
tureres would seem to be our best resort.
True, it will be objected, that We have at
present even no surplus either of labor or
of capital and both are needed in conduct
ing manufacturing enterprises. There is,
however, no real lack of either We know
there are always thousands of persons un-
employed; and there is, in the aggregate, a
large amount Of money in individual hands,
now lying unproductiye and idle, which, con-
centrated, and with proper direction, would
60 far to the successful Inauguration ofman-
ufacturing upon the largest scale. We know
how much was accomplished in a marvel
lously brief space of time, i'll the establish
ment Of phosphate works-and why SIM
ply because there was the promise Of large
profit and quick return. Now, fit can be
shown that cotton manufacture is not less
profitable, and far more sure Of a steady
business, at all seasons, and year after year,
we do do not see why our business men, men
of good practical sense, of energy and capaci-
ty, should not succeed in getting up the ne
cessaay capital, and multiplying cotton manu-
factories all over the South but especially
nature points out the site i'll the form Of fine
watcr-powcr. We have in South Carolina
plent, of as fine water-power as is found
anywhere in the Uunited States; we have
plenty of cheap labor, and We have the raw
material in unlimited supply, cheaper than
it can be procured by any factory not situated
in cotton producing districts. We have the
capital also, VIC believe. There is fine
market always for cotton fabrics, both at
home and abroad and we have an excellent
railroad system, conrecting with every part
of the Union, 10 distribute our surplus pro-
ducts, to say nothing Of our fine lines Of
steamships, regularly plying between Char.
lesion and all the more important seaports OF
the Atlantic.
What then is lacking? Nothing it would
appear, but the initiatory step-a thorough
foundation, in the proper organization of the
movement. And shall it be said that we
have not enough energy or go'ahcadltlveness
to carry cut SO promising project?
But is cotton manufacture profitable? ? We
shall not answer by pointing to the cotton
lords of Manchester, of Elbericld and Muhl-
house Or of Lowell and Lawrence in Mas
sachusctts, because, in the first place, We
have not tie figures to demonstrate on po-
sition; and because, also, it might be object
ed that the conditions and influences are not
similar. We prefer, therefore, to take as an
illustration the working ofthis industry IN
Augusta and uranitoville-which have grown
up in our day, and under our own eyes: OF
the former, tic Augusta Constitut'onafsst, OF
IL recent date, says:
"The success Of the Augusta Factory, with
its sixteen thousand spindles and four hun
drcd looms in full operation all the year
round, is proverbal throughout the country.
1t is model of good management, and at
tracts the admiring visits and compliments
of even New England spinner3. Its profits
in past years have been somewhat marvel
lous. After free 'waterings' Of its stock. it
now pays, and has for some years been pay
lug. twenty pcr cent on its declared capital.
Besides this, it adds annually to itsre-
serve fund"
OF the Granitcvilc company the same pa
per says:
This company, the pioneer in this Sec
ton, has been dividend paying company
aluost vithout intermission, and has now
attainclu position Of great prosperity. We
have bcEMc US Il short summary OF its opera
tions sar tho past yoar, embodied III the re,
port OF the president, ut the recent annual
meeting. Tho amount of the capital stock
is net stated, but the percentage ofnct profit
must be very large. For the year ending
February %, 1871, the aggregate net earn
ings are S15G,9Sl y. Out of this dlyl-
dends were paid amounting to s57 ,32c. The
baIauce 500 55G1 u, was added to the opera
ting capital. He infer from what we can
understand to be the capital stock OF the
company, that its last years operations show
net prof; not far from twenty per cent.
The company has floating debt, and has
an excess Of assets over liabilities OF SloN-
G3l 4S. Among its assets are SlO2,ooo oil
cotton on hand"
NEEDLESS EXcITEMENT.-Ihe Washing