The Cincinnati daily star. [volume] ([Cincinnati, Ohio]) 1875-1880, 1877-03-10

some OF the Eastern papers are Sill Ia
menting the decline OF our import trade.
Editors who live under the shadow of
Custom House seem to fancy that all our
prosperity in trade depends on abound
ing imports from foreign countries, OF
which the Custom Houses are the ex-
ponents. They agree, as does the New
York Bulletin, that falling off in i'm
ports implies diminished purchasing
ability by reason Of the impoverishmea
of the people. But we can not 80 regard
it. We export more than we import.
Does IL, then, imply an impoverished
condition of our people that they have
more to sell than they have need to
buyP 1t Is this excessive import trade
that impoverishes people. 1t Is the
excess of exports that enriches them.
Then why lament the diminution OF our
importsH
We know moreover that our own
manufactured goods are becoming sue.
cessful rivals OF foreign products, both
for cheapness and excellence OF quality.
1t therefore does not follow that because
there is less demand for imported goods
there are less goods bought and con-
sumel by the people. The more reason
able inference is that they buy more OF
our own goods than formerly, when for
eign goods had superior merit as to
quality. And this inference is warranted
by facts. For, an exchange says:
"The city of Fall River, Mass, the
largest cotton manufacturing center in
the country, has every one of its mills
running on full time. The aggregate
weekly production is one hundred and
thirty-tour thousand pieces OF print
cloths and about twelve thousand pieces
Of wide goods, and the weekly pay
exceeds 100000. There is no
accumulation of goods, nor is there
likely to be any ovef-production for a
long time, as more than one-half OF all
the production of the priDt-cloth mills
is sold up to April at prices which ill.,
sure a handsome profit. The balance
sheet OF nearly every mill in the Gty
shows satisfactory profit for the past
six months, and some Of the more for
tunate show very flattering result.
while the wages of the operatives are III
per cent. higher than they were at this
| lime last year. All this is very encour-
aging. 1t is pretty evident that the
worst OF the industrial depression is
over, and that if the Presidential mud
die is settled Alright business Will pres
emily revive throughout the whole coun-
try,n
Furthermore, we find that the falling
off i'll our imports is chiefly confined to
such goods as are of commo n domestic
use and produced largely in this coun.
try; whereas, there is almost no diminu.
ton in the imports OF what would be
called foreign luxuries. This signifies
that our home products are steadily sup.
planting their foreign rivals, which are
consequently coming to us in dimln.
ished quantities. And certainly de.
cliae in our imports from such a
cause is very tar from sighifying
q diminished purchasing power,
by reason of the poverty of our people.
1t is, on the contrary, an omen of good
a harbinger of prosperity, the forerun'
ner Of increased business activity. For
such increased home demand must nee
essariIy stimulate home manufactures
And this stimulus, by arousing an ehor
to achieve both cheapness and excel
lence, not only secures to our manufac
tured goods the command Of our home
market, butts also instrumental in open
ing up to them foreign markets in which
heretofore they could not compete, and
in which they are now becoming thu
power paramount.
Taking a tair view Of the whole field
then, we can not find single prominen
cause of obstruction in our way to a
era of intense business activity an
commercial enterprise. Give us anothe
abundant harvest in the coming sun
mer, and, whether the Old World has
war or not, we may confidently rel
upon steady revival of trade upon
4 sound basis, productive of great Natiol
: al prosperity.