The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1878-06-28
OVER PRODUCTION OF COTTON GOODS

On May 26, fourtce en of the biggest man
utacturing companies Of New England sole
at public auction in this city, Without re
serve, and for the highest price thew woulc
bring, 10000 packagcsof dom -stjcs. Tbi,
Immense sale Of stand4r 4rd and seasouabl,
goods brought tosethE buyers from al
parts of the country. tThs result Of tn,
transaction established hu average declin,
OF about ten per cent. prices previousl,
ruling Tor the same ne of goods 1t i.
! CLAIMED by manufacturers that these price.
are 29f Ssmenerative; butit became neces
sary M i&ees, 20 clear tue market OF
fH9pettloas sots stls eepRplased s.seasss. - =.
Inc cost OF production dePsGGs on two
Principal factors raw materials and labor
Afterward come interest on capital and
general expenses. Notwithstanding the
great progress of late years made in reduc.
ing these expenses, especially that of labor
through improved machinery, the difference
to-day existing between the cost of produc.
tion and the selling price of American do.
mestics does not warrant the continuous
running OF our Eastern mills. On the 25th
OF May eight Fall River mills, the Flint
Stafford, Wampanoag, Chace, Robson
lscumsch, "etamoe, and Troy, aggregatirs g
weekly production of 40 1000 pieces. shut
down for week. This is the beginning of
movement among Eastern msn uS,cturers
to secure the stoppage of mills on alternate
weeks, until the price for cloth shall bo
such as will yield fair return on the ont.
lay for labor and capital. Had this system
been adopted year ago, the heavy losses
OF mill owners durinp. tho last twelve
months might have been avoided.
Several of the mills in Pawtucket have
shut down. A general movement of thi.
kind throughout New England would soon
effect marked Improvement in the price Of
domestics. However absolute the law..of
demand and supply, it does not prevent an
intimate connection between the selling
price and the cost of production. 1t ;ssnot
surprising that production has run ahead al
consumption. In the textile industriA th{
progress of invention has produced ext
ordinary results. Steam spins, weaves s6d
prints thousand different stuffs, which he
sewing machine afterward seizes hold0f-
"A good weaver could formerly turn, OUT ten
Szpxzc.zvyyrssSS1 x1.>->-s-,
coaId only MAKE ~ - - - + 6 6es 4
minute. The French loom produces from
o,0oO to 5000, the straight automatic loom
45fOO0y the circular stitch loom $4,000 to
10000, the articulated needle loom 24O..
600 at first, then 100000, andSsiow the
double circular gives 100000. So that
workman produces from 1000 to 5000
times the work of knitter OF the old
times. The long continued and severe de.
preston in our manufacturing industries
has resulted in an immense shrinkage in
mill property. How grset t1asCsbaipkags
the Salisbury mills. Though neatly one
hundred and fifty capitalists f7oh New
York, Philadelphia and Boston were pres.
ent at tho sale, property stated to have
cost the present company, 81 100000 was,
after some spiritless bidding, Knocked down
to Mr.. Juo. Gardner, of Boston, for $780,
600. The mills are in good repair and can
be started up immediately without any ad-
ditional expense. There are 1873 tenement
houses and twenty seven stores included in
fheas property sold. There arc likewise
& of- reservoirss eontsaRie q all the
water from tidewatef back ortrens miles.
The mills shut down about year age. land
ever since have bsen closed.
While over.prdducte. at hope has glut-
ted the market with .AmeTicsk dot1 kstics,
the imports of dry gfpds for e al Eve
montlsof thetpresenl year Without
exception, a dAe1lneS all cI(es 0fs goods
as compared with thekSorresH Hug period
Of last year. The cdnsump&oh of foreign
goods in all cases has been less, hut in cot
ton goods more especially so4 There, exists
among us class of so called manufa cturers
and political economists who have somehow
got It into their heads tfiat the one thing
needful to relieve us Of our surplus manu-
facturcd goods, to provide employment for
the thousands of operatives now in condi-
tion Of enforced idleness-say at Fall River.
Mass, and other Eastern manufacturing
centres-is plentiful supply of ocean
steamships to open up to us che trade of
South America and other countries, at
present pretty much moRopolized by Eng.
land and Germany The idea is tha. it is
mere question Of steamships, and nothing
else. In point Of fact, thereiis no dearth
Of steamships if only they could be profit
ably employed. There are merchants in
this city to-day who will gladly put on
steamers to any foreign country,s provided
fcss manlfaosussrs. Z viii guafShtse cargoes
and that, too, without asking. subsidy