New-York tribune., 1874-06-11
INDUSTRIAL PROGRESS.

The Granitevile factory in Georgia affords an
other illustration of the success attained in the man
ufacture Of cotton goods At the south. during tho
Ings exclusively, and realized the sum Of $l5SlS
equivalent to dividend of y per cent on the cap.
tai invested. 1t consumed 1903 bales Of cotton 45O
pounds each and sold large portion Of its fabrics
in this city.
Mr.. Bessemer, the inventor Of the steel making
process which bears his name has invested $1,000 in
behalf of the Iron and Steel Institute of England,
the interest which is to be applied to purchasing
q gold medal to be conferred annually upon him
whO in the opinion OF the Council, shall have IN.
vented or introduced the most valuable mechanical
or chemical process; or secondly shall have pre-
sented the best paper at session of the Institutes
or thirdly. contributed the most valuable article to
The Journal
forcible plea in favor Of encouraging American
sbipbuilding is made by The Philadelphia Ledger.
other Industries than shpbuidng MOTHER pays moro
tribute to the various branches Of labor and producuoD
nations TO cherish and protect the interests OF naviga-
H o loTen % e an ow ne' wh io pse % b
tween the port of New-York and Europe. Philadelphia.
taken tho rst practical step to divert this destructive
and draining process The struggle even under the fair
the navigation laws. and permit American shipOwners
to supply themselves by purchase foreign sbipyards,
sa he rSe Us Of s
which shipbulding confers upon country There are.
England the other hand has $500 so Invested.
Any measure which should put our comparative trho
at still further disadvantage before the monster
OF British capital would perpetuae Indefinitely
our dependence upon foreign vessels.
The principle of industrial protection is now part
of the settled policy of the prosperous colony Of
Victoria Australia, the Free Traders having ceased
to offer any organized resistance The Melbourne
Leader comments follows on the merits Of the
new policy and the results which il is achieving:
It cannot be often asserted that protection en-
coursgement local industry, means the investments
of local capital in local affairs the employment VAST
amount Of labor the distribution OF enormous wage
fund.- and consequently. the pecuniary ability OF tho
many TO purchase what they require although at
slightly advanced prices while free-trade means the
withdrawal VI local capital from local affairs the con se
aueot enforced ideness Of the population miserable
wage fund, and inabity TO purchase ,s requred
matter how small the price may be. -
Upon every hand our manufactures are az.
tending under the small announcement offered
by the state. and capital is being In
vested In them that previously taken out of the
country TO be invested else where At the same time Wa
look Ia vain TO discover how under Free Trade any ad
vantage whatever could be given the Colony TO COM
pensate Tor that which would be lost by abandon
ment OF our present fiscal system. When Is urged hat
consumers nave 10 pay for protection local ndusteA
for the dement, OF producers the fact II ignored that
Ia new country nearly all producers we'll
sumers from the highest TO the lowest class In the
MUMMY. ana certainly bo made out In favor
OF the adoption Of Free Trade policy for she benefit o
I'VE special few whaas wealth epAbes them 70 i've with
ttt ~ Ypit