Union and American. [volume] (Greeneville, Tenn.) 1875-1877, 1877-03-29
OUR NATIONAL TRIAL AND IT'S
RESULTS

RESULTS.
The four months beginning No,
vpmber 7th 1875, and ending on
the 4th of March 1877, will long
he remembered as q period hotonIy
of severe trial to our national in,
situations but also to the material
interests of the country, The
crises has been passed, and there
can be no question but that the
new start is taken better suspices
than have obtained for many a
year.
W. believe that the revival in
business activity is one is going to
make itself rapidly felt. Material
for manufacturing purposes is
comparatively cheap, building car
be much more inexpensively car
ried on necessaries of life and
wages are down and altogether
conditions are favorable for the
undertaking by capitalists of en-.
terprises contemplated, bnt long
delayed and for the investment Of
a vest amount of capital which
hitherto has been closely guarded.
W. are beginning to learn more-
over, that, after all, the hard times
have not been destitute of good
As soon as the first effect of the
blow had passed, manufacturers
began to adjust their business to
the new order of things. Cotton
fell in value, and old stocks were,
as already noted, cleared out un>
der enforced liquidation. Mean
while in the production of cotton
goods We made numerous valuable
improvements, and all this tended
towards rendering US consuu ers
of fabrics produced at home,
rather than purchasers of from
England, as we had been to a
large extent before. The sane is
true, though Id smaller ratio, Of
wo len 'and worsted goods. The
decline in our imports from Eng
land during the Eve wears from
1871 to 1877 is shown in the fol-
lowing Cotton goods from 1926.
700, 900 yards to SIS, 600, 900 yards
wto'en from 1891 QUO yards. 10
| 4S8, 900 yards, and worsted from
86.682 600 yards to 41.079, 90
yards. Not only, however, Is the
market here for Eng'isl fabrics
substantially lost, but u manutoc-
.urers are entering lrto comperi-
ton with British producers on
their own soil. We 0ave already
a considerable trade in Manchester
(tbe home Of English cotton weav
ing) in cotton calico cloths. Our
cotton mills have large South
American orders on hand; and il
is vel 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 deprossio oar
exports have been have been
steady increasing. Fresh Amer
t, can meat, which bids fair TO be
the staple of a gfeat foreign trade
is now sold throughous Great
! Britain at 16 cents and less per
pound. or one quarter less than
nglishtmeat. More than forty
four per cents of the foreign wheat
requ red by England to exc out
with her home supply, we furnish.
The shipment abroad of American
Holsters and oleo. margarin oil are
two new experimental additions re
Gently made to our export list beth
of which are promising. Our but,
ter and cheese exports are exceed.
ingly large and still growing. In
brief, and without entering into
further detail our export trade we
quote figures obtained by the N.
Y. Sun. and embodied in a very
carefully prepared article( tor
December, 1867, was by far larger
than ever was kRown In one month
and the lessons Of thrift and fru,
gality which the business strin-
gency has enforced are known by
their fruits in the statement that
The exports Of 1875 exceeded those
Of 1872 by $l7l,OOO,O 900, while
he excess Of exports ovcr import
oyer. imposts for 1874, 1875, aud