The morning star and Catholic messenger. [volume] (New Orleans [La.]) 1868-1881, 1877-04-01
OUR NATIONAL TRIAL AND I1S RE-
SUITS.


IN. Y Scientific American. March S5 1871
Tb" four months beginning Novem Der
1th, 1876, and ending 90 the 4sh of March,
will long he remembered "a a period not
only of severe trial to our national instiiu-
tons, but also to the material terests OF
the country. TIE crisis has been passed,
and there can be no question bat that the
new start ia taken uhder better auspices
than have obtained for many year.
We believe that the revival in business ac.
tivlty is one that is gong to make itself ra-
Pldiy felt Material for man ufacturing pur
poses is comparatively cheap, building can
be much more inexpenslvely carried on,
pecessaries of life and wages are down, and
altogether conditions are favorable for the
undertaking by capitalists of enterprises
contemplated but long delay cd, and for the
investment of q vast amount of capital
which hitherto has been closely guarded.
We are beginning to learn, moreover,
that, after all, the hard times have not been
destitute of good. As soon the first effects
of the blow had passed, manufacturers
began to adjust their business to the order
of thiDgs. Cotton fell in value, and old
stocks were, as already noted, cleared out
under enforced liquidation. Meanwhile in
the production of cotton goods We made
numermous valuable improvements, and
all this tended toward rendering us consul
mere Of fabrios produced at home, rather
than purchasers from England, as We had
been TO q large extent before. The same 10
true, though in smaller ratio, of woollen and
worsted goods. The decline in orr imports
from Eogland during the Ave years from
1871 to 1876 is shown in the following fig
nres Cotton goods from 129 600 600 yards
to SIS 600 600 yards, woollens from $780,
900 yards to 47s coo yards. and worsted
from &c 662 600 yards to Al .O79 900 yards.
Not only, however, 10 the market here for
English fabrics substantially lost, but our
manufacturers are entering into competi
ton with British producers on their own
soil. We have already q considerable
trade in Manchester (the home of the
English cotton weaving) in cotton calico
cloths. Our cotton mills have large South
American orders on hand and il is we'll
known that we are making worsted goods
of better quality than the foreign fabrics
we have hitherto imported.
On the other hand, during all the long
period of depression, our exports have been
steadily increasing. Fresh American meat,
which bids fair to be the staple of u great
foreign trade, is now sold throughout
Great Britain at 1G cents aid less per
pound, one quarter less than Eoglish meat
More than forty four per cest of the foreign
wheat required by England to exc out her
home supply, we furnish. The shipment
abroad of American Holsters and cleo mar
garin are two new experimental additions
recently made to our export list, both of
which are promising. Our butter and
cheese exports are exceedingly large and
still growing. In brief, and without enter
ing into further detail, our export trade
for December 1876, was far larger than ever
was known in one month, and the lessons
of thrift and frugality which the business
stripgency has enforced are known by their
fruits in the statement that the exports
of 1876 exceeded those of 1S72by $I7l 600
600, while TIE excess of exports over i'm
ports 1873, 1875. 1876 amounts to the grand |
of 1914 1874 600. |
We have before us a large number of re
ports from various sections of the country,
all of the most encouraging nature. La |
New England, mill after mill is resuming
foil cork; in the iron trade of Pennsylvania,
where the greatest stagnation has reigued,
there is good sign of improving business !
The shoes and leather p:erchants Announce
better sal' Q; and altogether, look where we
may, either the actual opening of augmen-
ed trade or good prospects of activity
1ear at hand are clearly apparent. In fine,
We have passed through the fire, rot un-
cathed, it is true, but strengthen cd and
'hastened. The future opens hopefully.
The characteristic energy of our people
nay be relied upon to render its years
hose of plenty, prosperity, and peace.
ALTOGETHER Too THIN-Tt was late in