Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1874-01-22
Revival of Business.


The United States Economist
of New York publishes reports
Of an extensive industrial revival
in the manufacturing districts
in New England and the Middle
States, and makes the following
editorial comment:
"Our information is very full
and precise, especially from the
New England States, and relates
chiefly, though not entirely, to
textile industries in which our
readers are more particularly in.
terested. From these reports, 70
which we invite particular atten-
tiOn, it appears that the cotton
and woolen mills are everywhere
very generally neutrality-suspicious..
A large number which had stop
ped, it was feared for The winter.
resumed work or halt or three
quarters time on the lst of De.
eember; others which have not re-
sumed will do so on Monday next,
and mills which had teeu running
half time, or even less, are work
ing full time The great Lowell
factories are now nearly all work
! ing full time. The Fall River
mills, whose entire stoppage so
lately seemed imminent, have con-
siderably increased their opera
tiOns. Some of them are now
working full time, and there is
scarcely a doubt that all of them
will do so on the lst of January.
From the manufacturing centers
of Maine and New Hampshire the
accounts are invariably favora Bile.
In Pennsylvania the textile fac.
t)rles are again starting ar, aud
even from Patterson, n. j., we
have the good news OF the resump-
ton of some Of the silk factories
at that place.
This revival of industrial
activity Is attended for the most
part by a reduction of wages of
from ten to twenty per cent. To
this reduction, however, there are
some exceptions, the extensive
Wamsutta and some others having
increased their operations at form
er rates of wages. But, as was
recently shown in the Ec mOmiit,
reduction of wages was invita-
BILE, as goods could not be replaced
at the prices at which they are
now saleable, at the former cost of
production. 1t is creditable TO the
good sense Of the operatives
that they generally acqui .sce i'll
this reduction of wages as neces.
sity of the times. And it can be
easily shown that it is to their In
terest to do so, because it is not so
much the amount as the purchas-
ing power of wages that is I'M
lportant. Owing to the general
reduction In tHe price Of commo-
dlties the workman will probably
be able to save as much, if not
more money than before, and
without the loss of any comforts,
or even luXurles, to which they
have been accustomed.
"From the very full and accu-
rate information now at our com
mand, We feel fully warranted in
anticipating, under ordinary CIR
cumstances, a complete and en-
tire resumption of the textile in
dustry of the country at the COM
mencement of the new year, now
only three weeks hence; and con.
sidering the magnitude of this in.
dustry and its relations to and in
fiuences upon other branches of
trade and on general business, this
must be regarded as an event'of
national importance. 1t has long
5een remarked that wlren the dry
goods trade is good every branch
of business is prosperous, and this
holds good at the present time
more than ever. 1t is surely q
hopeful feature of the future that
this great industry, which was the
first to feel the effects Of the PAN
ic, Is the first to recover from il.
There is rot a commercial or indus
rial Interest in any part Of the
country which will not speedilyex.
perience the beneficial effects of a
restoration Of the great woolen
and cotton manufactures. 1t is
the first and best sign of return
ing prosperity to the whole Ameri-
can people"
a young woman of a very
prudish turn was hurt in a rail-
way accident and taken to the