Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1872-07-25

-ascn ,c7s.aos
IN ISL, ll,so0,0Vo
Capital invested in silk panufae- .,oo
lures in 1861, - $1,000
Value Of silk goods produced in 1871, $500 600
Ay Ysso Vi PIG s75sz
In ISL 1912 900
Total production of iron ana steel
rails for railways in 1871 Cons I35,ls3
(more than three times the amount of lsao)
The manufacture of railway cars, steam
engines. agricultural implements, and la
bor-saving machines, has increased at
prodigious rate within the decade ending
1871. The following facts as to what is
going on in two of the numerous cities OF
the country give some idea of the tremen-
dous growth which its manufactures are
making IN Philadelphia there are 5000
establishments in which persons are en-
ploypdrat wages in productive or manu-
featuring industry, and the value OF this
product for the year 1877 was not less than
$4,000, 600 1t was 1926, 900, 900 for the
year ending June 80, 1870. and it was iull
ten per cent more In 1871. 100000 men
and 10000 women find steady employ
ment and liberal wages in this industry,
receiving no less than $50, 900, 900 in mon
ey for their labers in the course of the
year. And these 5000 factories in the
city limits are supplemented by 1000
more, placed only short dist ance from
the city boundaries. Such Is the growth
Of the city in population and wealth that
more than 5000 new houses are erected
in the year. Cincinnati, one of the new
cities of the west. whose manufactures
have been created chiefly since 1860, ac-
Icording to the repo. of its Board of Trade
for 1870, had nearly $50 branches of man.
ufacturing enterprise, with an aggregate
cash capital of SOL ,673 200. The number
Of hands employed was SO 1927, working
up raw material worth S66, GAO, 085, and
producing articles worth 1927. 459, 021.
The total value Of the annual imports and
exports of the city the same year was
95O5, 496, 355. The growth of St. Louis
and Chicago in their manufactures has
been in the decade on a similar gigantic
scale 4
As indicative how the tariff policy is af
-fecting labor, the deposits Of the savings
banks Of four Of the New England States,
embracing about one-thirteenth OF the pop
ulation Of the Republic, may be examined
with advantage. In these banks the la.
boring masses place their yearly savings
Al euCSC kOOk A1tdtVS thC uCPOoIto
n 1850 amounted to 3 1900 go o !,o
The yalue Of farms in all the states
OF the Union was in 1850 7.9s, ,30l g.
Farm prodasts year ending June, -,
Live sock Of the farms, 1870 i'sa,ss7,7ia
But what win most astonish those un.
acquainted with the vast resources and
rapid progress Of the United States, is the
aggregate increase Of property from 1861
to 1871. At the beginning of 1861 the
entire amount of property. personal and
real was about sixteen thousand five
hundred millions OF dollars, and this has
been increased 10 nearly thirty one thous-
and millions Of dollars in 1871 In these
ten years, despite q gigantic war Of four
years, which carried to the field 2, 500, 00O
men, destroyed more than S5 ,000, 200, DOC
Of properly, which liberated from slavery
four millions of people, and taught mon
archical Europe that a republic may be tbs
strongest government in the worlt
against the assaults of an internal or ar
external foe--in those ten years from 1861
to 1871, the property Of the country in
creased to the enormous extent of Sl4.
800, 900, 600, and the population in tn,
same period augmented about 5000 900
~ r, Dudley Baxter, a distinguished sta
tistical writer of England, in recent let
ter. to Hon. RI. Taylor, First Comptrol
Ter Of the United States Treasury, say
hat it is remarkable that young nation
like the United States should have paid of
: IN a little less than five years 600, 900 .OO'
of capital OF its National Debt, or f2S. 900,
900 more than the reduction of Grea
Britain in the fifty-five years since 1915
and should have reduced the interest e..
ZOO, 900, or nearly two-thirds of the whole
reduction OF Great Britain during the
same period of fifty-fve years.
In view of these facts. whose over
whelming massiveness the figures SO wei!
attest. it may be doubted whether the
commercial, financial and administrative
policy of the United States is failure.
1t is questionable if the theorists and poll
ticians of Europe can demonstrate it to be
a mistake, or are competent to- teach
Patriotism and Political Economy to the
people and statesmen of the North Amer
loan Republic.
-',9s A CITIZEN OF THE UNITED STATES.