The morning star and Catholic messenger. [volume] (New Orleans [La.]) 1868-1881, 1876-01-15
COTTON MANUFACTURLNG.
In. Price Current. y


called than the American consumption In
estimating the extent of the crop, it is COM
mon to conjecture how much has been
consumed at the North and the South
respectively, and adding this amount to
| exports and balances of stocks on hand,
to compute therefron the entire yield.
This is done, moreover, not for the
mere matter of mental speculation,
but to serve as the basis of important
operations, advice to foreign coTrespon-
dents, or for home operations for fall
| or for rise.
For example, it was generally supposed
before the final statements made at the
close of the commercial year, that, owing
TO short time working, the prolonged win
ter drought and freezing of the water
prices, there had been large falling off in
the consumption at the North. The re-
duction from short time alone in the New
England mills wss estimated at 25 per
cent. Now the Chronicle's report shows
that, instead of there having been large
decrease, there was an actual increase OF
26l4 bales at the Northern mills Il ,097 ,00ls
against 1904 1877, and of 16, $50 bales in
| Southern mills (l45, 079 against 126, $500.
This gives an aggregate increase of Is, l67
| bales. The increase at the South alone
was about - per cent
The question of Northern consumption
moreover, assumes still greater interest
when we consider that had it not been
for ths restrictive influence referred to,
the manufactured product would have
been materially larger, while, even cur |
tailed as it no doubt was, it has proved |
to be beyond the demaud-that is 10 ex- /
cess of the home acquisitions for consump.
ton. Hence it has become of vital impor-
tance to the manufacturing interests to /
find an outlet abroad, and public atten-
the necessity of obtaining such 7modifica
tions of our treaties with the consuming
countres-such as Mexico, the South
American Governments and China, as
will open an outlet for our American
fabrics Oar manufacturers have gone
ed to unload their stocks by exports Of
printing cloths to Great Britain.
To the South this question is at once
interesting and gratifying. The increase
In Southern manufactures is beyond all
former 'r antiSipations. In In 1870 the South
in 1871 they increased the amount to
81 ,240 bales, in 1872 it was raised
to l2O, 1000, in 1873 to 1877 ,662, in 1874 it
fell of to 12s, 526 and in 1875 it rose to
las, O79.
The progress of American manufactures
is watched with abiding interest not only
at home bat abroad. As the season ad-
vances, the probable takings of the Amer
lean mills are used to indicate the amount
of American crop that may be expected in
Great Britain and on the Coatinent, and
these expectations have sensible influ-
ence on prices. Thus the fundamental
question ultimately affects the returns of
the Southern planter. Now it is manifest
that it ia to the interest of the producer
that this competition should exist.
1t may be said that if no cotton were
taken for home consumption, there would
be such an increased demand for foreign
fabrics that the Manufacturers abroad
would be just az able to take the whole
crop as they are now to take only part
of it. But if they were the only con-
sumers they could much more easily con-
troll the markets and enhance their own
profits at the expense of the American
producer. The competition between the
American and the British mills has
wholesome influence, and ordinarily pre-
vents prices falling below q remanerative
point. The present season is evidently an ex-
ception to thu rule, prices for some descrip-
tiOns ruling below the actual outlay for
production, but all regard it as exceptional,
and trust that an increase in the demand
for fabrics, arising from necessary re-
QUESTIONS tor consumption by the masses,
will BOON restore the markets to their nor
NAL condition, and that prices will then be
fairly remunerative to the cultivator.
If the competition between American
manufactures, in the aggregate, with
foreign manufactures, is beneficial to the
Southern planter, not less SO is that be-
tween the Southern and the Northern
mills. Hence, independently of the ad-
mitted advantages of diversification of
Southern industry, We have strong motive
to encourage manufacturing at the South.
The question, in fact arises above the
plane of mere individual interest, and is
eminently worthy of the consideration of
the Southern State Legislatures. Opposed
as we are to class Legislation, there are ex-
ceptional cases in which it is not only ad-
INVISIBLE but necessary. Cheap blan-
kete, for example, are of great impor-
lance to the people at large, and if the
foreign article can be supplied much
lower than the domestic, it should not
be driven from the market by protective |
duties. But in case of an imminent foreign |
war, in which blankets would become es- |
sential to the efficiency of the army, a pro-
tective duty, which would force into opera |
ton domestic blanket manufacturing, |
would become necessary and polite. And |
so with regard to Southern manufactures. |
There are many means of encouraging
y.