The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1873-12-18
NUMBER 81.
REVTVAL o. BusINEss.
signs OF Returning Pr0apertty-Re-
eOvery from the Effeots Of the Panic.

signs OF Returning Pr0sperity-Re-
/ cOvery from the Effects Of the PanEe.
The Economist of New York pub
| fishes reports of an extensive industrial
revival in the manufacturing districts
/ in New England and the middle states.
and makes the following editorial CON-
ment
Our information is very full and pre-
else, especially from the New England
| states, and relates chiefly, though not
/ entirely, to textile industries in which
our readers are more particularly inter-
| ested. From these reports to which we
invite particular attention, it appears
that the cotton and woolen mills are
everywhere very generally resuming
/ operations. A large number which had
stopped, it was feared for the winter,
resumed work on half or tbree-quarts rs
/ time on the LIST of December others
which have not yet resumed will do so
on Monday next, and mills which have
been running half time, or even less,
are working full time. The great Low
eli factories are now nearly all working
full time. The Fall river mills, whose
entire stoppage 50 lately seemed imrni-
nent, have considerably increased their
operations. Some of them are now
working full time, and there is scarcely
a doubt that all of them viii do so
on the LIST of January. From the man.
ufacturing centers IN Mime and New
Hampshire the accounts are almost in
variably favorable. In Pennsylvania
the textile factories are again starting
up, and even from Patterson, n. J., we
have the good news cf the resumption
of some of the silk factories at that
place.
This revival of industrial activity is
attended for the most part by reduc-
ton of wages of from 10 to 20 per cent.
To this reduction, however, there are
some exceptions, the extensive Wam-
sutta and New York mills, and some
others having increased their operations
at former rates 'of wages. But, as was
recently shown in the Economist, a re-
duction of wages was inevitable, as
goods could not be replaced at the
prices at which they are now saleable,
at the former cost of production. II is
creditable to the good sense of the op-
eratives that they generally acquiesce In
this reduct on of wages as q necessity
of the times. And it can be easily
shown that it is to their interest to do
so, because it is not SO much the heamount
is the purchasing power of wages that is
important. Owing to the general reduc-
GlOQ IN the price OF COMmOOfIleS the
workmen will probably be able to save
as much, if not more money than be-
fore, and without the loss of any COM
forts, or even luxuries, to which they
may have been accustomed.
From the very full and accurate in
formation now at our command, We feel
fully warranted in anticipating, under
ordinary circumstances, complete and
entire resumption of the textile indus
try of the country stthe commencement
OF the new year, now only three weeks
hence. And, considering the magni-
tude of this industry, and it's relations
and influences upon other branches of
trade and on general business, this
must be regarded as an event of nation
al Importance It has long been re-
marked that when the dry goods trade
is good Every branch of business is
prosperous, and this holds gool at
the present time more than ever. IL is
surely hopeful future that this great
industry, which was the last to feel the
effects of the panic, is the first to re-
cover from it. There is not a CONNER
cial or industrial interest in any part of
the country which viii not speedily ex.
perience the beneficial effects of res
toration of the great woolen and cotton
It is the first and best
sign of returning prosperity to the
whole American people.