Connecticut western news., 1879-05-14
Tlae Business outlook.

 revival of business while there has been % llttle tangible evidence of it that people have come to regard it in some measure as mere idle talk, but facts and figures woAt lie much anc we think there is good evidence all about us that we have indeed entered upon the right road to prosperity. Our pregress ct first may be slow compared with the days of imitation, but it will be all the more hsalthful and invigorating on that account. One of the most significant signs of the times is that the s'balAncs of trade" as 1t is called, Is largely in our favor, and we are no longer dsbter nation, but creditor nation. In 1872 the balanCs was 90 millions dollars against us In 1878 it was 28S millions in eur favor. Fer the latter year eur exports amounted to the enormous sum of 749 millions dollars. Business cannot bs entirely dead in . eouatry that can produce and send to fer eiga countries such vast amount. The exports of brsadstuffs and provisions last year were immense-of wheat no mlllions bushels, of Indian corn about 73 millions, of other grams. from to IA millions, of Hour, from to millions barrels, of bacon and ham, 696 millions pounds, of cheese, 139 millions pounds, of lar,l, 359 millions, ox pork, 84 miliions These were all large ly in excess of the year before, showing . general revival of buainess and trade. The iroa trade, one of the largest and most ex- tensive in the country, shews this perhaps @ well ss any other. The American Iron and Bssel Association held their annual meeting at Pittsburg Tuesday of last week, and the reports of the secretary, Mr. James 1. Swsnk. and of Hon. Daniel J. Morrell, of Pennsylvania one of the commissioner &saR R6.s> asia nd fAr HRo the head of one of the largest irsn manu- facturing concerns in the United States, give some interesting statistics in regard to the irea and steel industries.
 Ie appears that the production of pig met al in 1878 was greater than in any previous year since 1874, and indicates that the out. put for 1879 will equal that of the exeep tienAlly productive years of 1872 and 1873. This gratifying improvement is accounted for by the increasing business of the foun- daries and machine shopss and the great growth of the Bsssemer Steel industry. While the production has increased. prices. however, have not shown any improve meut; on the contrary, they steadily de- clinad in 1878. as they had previously since 1873. The decline from 1872 to 1878 was 64 per cent. The highest quoted price in 1872 was $5S. .87, and the lowest Tn 1878,
 
 been . slight advance. Of the total pro- duction of 1878 about 293 thousand tons were made with charcoal; the balance, ever two millions tons, was about equally divided between anthracite and bitumiaous coal. The production of charcoal pig iron has steadily declined since 1872. Less than fifty years ago all the pig iron produced in this country was made with charcoal; in 1878 lsss than 12 per csat. of the years product was made with it. Among the states which increased their production last year, were Connecticut, Vermont, New York. Pennsylvania. Among those which decreased are Maine, Massachusetts. Mich isan. Psnnsylvania's shsre of the increase was 73 per cent. In 1876 there were 23 states engaged in the production of pig number of furnaces ia blast was 270, cut of blast. 446. In 1878 there were in blast 265. sut ef blast, 427. As the production ip 1878 was greater than the year before. it is clear that our furnace practice greatly i'm proved last year. The production of rails of all kinds in the United States in 1878 was nearly 300 thousand tons. This product has been but twice exceeded in the history of tAis country, in 1872 and 1878. The production of Bessemer steel rails was greater. while that of iron rails was less. Open-hesrth steel rails appear in the statis- tics of last year for the first time. In 1879 we will probably produce as many rails as in 1872, when we made one million tons. Tkc frst importation of Bessemer steel rails into this country was in 1863, when 8 few tons were imported from England at @l50 per ten, gold. In 1867 they began to he made here. and the price fell to SIS, gold. In 1878 the average price was $42, 50.
 Mr. Morrell. who presided at the meeting ef the association above referred 10, in speaking of the present condition of the iron trade, said there were unmistaka able in. dicatisns of . returning tide of business ac- tivity and prosperity. We may net antici- pate rapid advances in prlces or great gains In business operations yet. Referring to the large purchase of English BessemeI rails 5y the N. Y. Central R. R. Co.,, he denied that they were superior to the Amer ieaR steel, and that the utmost endurance of the American rail Was only i've years. The resolutions adopted express the con- yictien that the causes of business depres- sion have spent their force, and that there are signs of returning heartful activity
 that while all countries have suffered, th. condition of this country has been mada more tolerable, by reason of protective tariff, ts which is owing also our speedy re covery from the depression. Mir. Morrel in his report speaks in the highest terms o the display of iron and steel products at th, Paris exposition. but found little that wal aew % the practical ms engaged in tht manufacture Of these products. He wal impressed by the fact that good ores ar, found in nearly all countries, and that there is an equally general distribution eff miner al fuel 10 smelt them. Mir. Morrell writes simely winning word against mericans be- ing deludsa by the thought that our most formidable manufacturing rival, Grsa Britain, will cease her efforts te regain possession of our home markets. He sayl British manufacturers are forcing labor tC accept wagts g as low as are paid in the poor est country on the Continent, and that d. though temporarily under . cloud, Grea
 Britain will soon make desperate effort tc
 undersell the whole work, which will be ex ceedingly formidable by reason of her i'm mepse financial resources and special man-
 ufacturing advantages. The followinG
 statistics fn regard fO fine wages paid me chanics and laborers in different countrie, of Europe. will be of general interest:
 h France in May, 1878, the averag, daily wages sf carpenters were $1; of ma soas, 76 cents; of painters, 95 cents; o ah0smakers, 60 cents of tailors, 75 cents
 of women employed in various mechanics < OEcup&Il0Ms, lFOB1 00 tO 0U cents, ana O children similarly employed, from 10 to 3t csnts. At Creusot, where the hiehes
 wages on the Continent are paid to iron workers, the net wages of puddlers in 1876 were about g day, and helpers received about 75 cents. At the blast furnaces al Sf. Chamopd in 1878 an ash wheeler re ceivea 50 cents day. an ordinary laborsl 65 cents, fireman 70 cents, and engineers 70 to 90 cents. The average annual earn ings of French colliers in 1872 were only Se0 francss or $l89. IA, and their earninei are now still less. France, 1t should be TO. -avrh.rad ;a fha v,n<st r,ro.xoo.r,..- --.-.O