The morning star and Catholic messenger. [volume] (New Orleans [La.]) 1868-1881, 1877-03-18
QUE Exports AND IMPORTS.
ENFORCED ECONOMY HAKne US RICH
IN. Y. Sun. March al

| n. Y.
| 1t has been held in a0me quarters that
| the extraordinary turn which the trade
balances have taken in our favor since 1873
| is not an indication of good to the general
| commerce Of the country. IL 1s argued
that the decline in imPorts is soieiy attrcu-
table to q falling of Of home consumption
by reason Of poverty, and sheer inability to
purchase. We think other wise.
| The extreme depression of businees
which commenced with the panic of 1873,
| became more and more intensified during
| 1874 and 1875. In no branch of industry
| was this depression more marked than In
| the man ufacture of c0ttons. Wages were
reduced, mills stopped running, and great
distress prevailed at the manufacturing
centres This period of stagnation was
fruitful of failures, assignments, and bank
ruptcies. The process, however, was both
nece ssary and healthy. Toward the begin
ming of 1876 Eastern manufacturers had
adj usted their busness TO the new order
OF things. Meantime cotton had fallen in
value, and old stock had been cleared out
through the medium of great public auc
tiOns. Since then, owing in q certain
measure Co an improvement in our mama
featuring processes and to the low price of
labor and cotton, we have been enabled to
produce goods at home on better terms
than we can import them and hence to q
great extent the startling decline in the
Importation of British cottons. The Amer
lean people have been steady and generous
consumers of domestic cottoBs throughout
the period Of commercial and financial
depression. During the year 1875 our
manufacturers converted some GOO, OOO, 900
po1nde of cotton into cloth. Little of this
was exported. It was consumed here by
our Al, 00O, 900 of people, giving fourteen
pounds, or an average of cay Atty yards,
for every man, woman, and child in these
United States. This certainly does not
| show extreme poverty, OF inability to pur-
chase, on the part of the American people.
The following figures show the decline in
English shipments of cotton, worsted,
and woollen piece goc ds to this country
| Cotton Goods. woOllen Goods. worateA Goods
Yards. Yards. Yards
is se::.:' sstOSSUS i.47s.OSS S sI:S7s COO
Substantially, the American market has
been lost to the British manufacturer of
cotton and woollen goods. But this is not
all. England has for long time flooded
the markets of India, China, and South
America with himsy cottons that cannot
stand single washing. Last year some
Manchester who procured samples of cot
ton goOds suited to the markets of India
and China, and these goods were repro
duced here free from starch, and of o better
and heavier quality. They were shipped
direct to Manchester. The venture proved
successful, and considerable trade is now
being done in Manchester in cotton fabrics
manufactured in this country. Agents have
| likewise been sent to South America from
| Fall River, and the cotton mills there have
large orders on hand for that market. Oar
great success, however, has been in the
manufacturing of worsted goods they have
almost completely displaced the British
article, and are actually taken by the con-
sumner in preference to the competing for
eiRn fabrics.
H.
own fax and her own wool, but, with the
products of her soil, fed the people EN-
ployed in converting them into the fab
RIGS required for distant markets. Now
everything is different. She imports al
most every pound of raw material entering
into the composition of the textiles export
ed. We furnish Der with cotton, wheat;
corn, and of late, with fresh meat. Of the
nine to fourteen million quarters of foreign
wheat early required by England to exc
out her home supply, the proportion sup
piled by the United States has increased
from fourteen per cent. in 1867 to forty
four per cent IN 1873, and is constantly
growing. Low priced American wheat has,
to certain extent, led to q diversion oi
English farmers from wheat growing to
grazing. But here, too, the American cat
tie raiser of the West promises to supplant
his British competitor. Fresh American
meat, after travelling 5000 miles, is noS
cold in the principal English and Irish cities
at 81. and less per pound, or about one
quarter less than the native article. The
English people hail this cheapening of one
of the prime necessaries of life with delight,
while the press announce American meat
"as delicious food as man can DESIRE"
This comparatively new article of export
promises to assume vast proportions. In
|, January, 1875, We exported fresh meat to
: England amounting in value to SIS, $50
gold; in January, 1876, to the extent of
D ant hn
, reached $43s, $40 gold. Our export trade
in fresh meat can hardly yet be said to
have com enced. 1t is destined to become
: one of our most important staples. The
home supply is, for many years yet to
great continental centres of population
! within six hours of the seaboard by rail
, offer us go many different outlets.
!, It will be gratifying intelligence to all
those interested in the commerce of these
United States to learn that the export trade
for December, 1876, was, by far, larger