Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-09-20
HOW MANUFACTURING
PAYS.

What One Cotton Factory Will Do.
From the Augusta Cons:itutionAlist.
As an example of what can be done at
home, we have only to point to the great
cotton goods msnufsctOry of our city. No
institution of the kind in the country,
perhaps, has prOspered more than this
since the war. With the exception of
about two hundred shares, the capital
stock of the company is owned en-
tirely in Augusta, and its diyidenda,
therefore, go into the pockets
of our own citizens. The fac
tory employs five hundred hands,
who earn, on an average, twenty-five dol
lars per month, besides getting their
houses rent free. In the last six years,
beginning July l., 1866, and ending July
/, 1871, one million seventy thousand
three hundred AMI seventy two dol
lars and seventy-two cents have
been paid out by this corporation for Ia
Dor alone. The supposition is that
nearly, if not quite all, of this large
sum has been spent in the city, thus put
ting more money in circulation
and adding 10 the material pros
perity Of Augusta 1t is computed
that there are two nOn-workers de-
pendents upon each laborer, 80 that the
factory really supports about fifteen hun
dred persons, q not small portion of the
population of the city. Fifteen thousand
and forty eight spindles are now in the
factory, but we understand it is probable
that if the canal be enlarged, giving a
greater amount of wster-POwer, that
fifteen thousand spindles will be added,
making total of over thirty thousand.
| These additional fifteen thousand spin
dies will, in that event, be put part in
one of the present buildings and part
in a new building which will be erected
for the purpose.
When two-thirds cotton and one third
labor is required in the manufacture of
goods, the South has the advantage, and
this is the case with all the commoner
cotton fabrics. The cotton is immediate
ly a. hand, without having the expense of
heavy freight charges added to the origi-
nal cost. The ratio of The finer goods,
however, is the other way, requiring
two-thirds labor and one third cot
ton in their manufacture, and the
South, for the present, At sny
rate, cannot afford to compete with the
North in that line. The cotton goods
manufactured by the Augusta factory are
in demand in New York, and we believe
sell better than those of the same
grade manufactured by the Northern fec
tories. They are strong and durable,
and in their line cannot be surpassed.
The following is statement of the
amounts paid out by the company during
the first six years, beginning July !,
1855, and ending July l, 1871, for labor,
taxes, incidental expenses, repairs and
dividends: Labor, 81, ,07O, 372 ~; taxes,
1857, 415.O4; expenses, $153, 93l.92; re-
pairs, $55, s2S 81; dividends, 1920, 900.
OF The taxes, about $50, 900 was on cot
ton, when the nefarious law imposing the
tax was in operation. The remainder
comprised the ordinary Federal, State,
county and city taxes
1t will be seen that q larger amOun.
than the capital stock of the company,
which is $500, 900, has been paid out in
six years as dividends to the stOckhold-
ers. What similar corporation can show
a better record of net profits?