The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-01-16

Attaining in the year Of largest export 1S1s)
to only 20 per cent OF the production. How
small i'll comparison with tho IS per cent ex-
ported OF Enyland's larger production. 1t is
Sosru-ren years ago three years after the
close OF tho war) excessive imitation OF an ire
deemable currency prevailed, causing imitation Of
prices. OF wages. OF cost OF living and of tho
cost OF manufacturing in all departments. I'M
provemcnts In PROGRESSES. machinery. skill. speed.
quality OF product and increased production to
the hands employed all conspicuous in the last
few years. had then made but little progress.
Factory statistics OF that year 1S6s) are very i'm
ployed only be estimated, and because of
the abnormal and peculiar conditions then exist
ing would be both unsatisfactory and useless.
Rut in 1860 cotton manufacture was profit
able, and under normal conditions of cur.
rcncy, trade and peace. The exports of that
year were nearly the same In value as those
OF 1878. The present production per laborcr
employed. as compared with tho same in the
same kind of production In 1860. found from
mil records. IN 80 per cent more In the coarscr
fabrics and 90 TO % per cent more in the finer,
while the labor cost per pound IN reduced only ~
to 30 per cent anu tho weekly earnings OF op-
cratives are 10 10 % per cent larger now than In
lsGo, and the cost OF their living lof the Same
Between 1888 and 1876. an interval Of 80 years,
the cost OF labor per pound OF product was re-
dnced ~ per cent and the production per OPP
crative was increased $50 per cent.
First-Capital invested
N io0 tcchsus). ..................... $vs,oOO,WO
An 1870 tcensus) Observation-Disclosures. l4l,NW,uOJ
In 1873 (cstimatetl) ............... DOS. UU, 90
Second-Supposcd average returns on capital
100 ........ ......................... Spnr cent
1870 ......-.................7 per cent
Ao'v per ttut
tirohts were much larger in some years pre-
ceiling and following 1870 than in that year. in
which business was quite unfavorablc)
1hru-Ihe export trade, ~ at present con-
Quoted, Is reinuncrative. else Il would not he
tinucd and increasing In volume from year to
year. COTTON goods arc not exported By ON
account OF their manufacturers They are
wholly exported by merchants for the profit OF
the trade. Tho tariff duty of ''3v or Az per cent
Ia In no sense protective 10 tho production OF
goods Tor foreign markets. except as its stimulus
to production has cheapencd cost OF production by
excessive home competition. Goods produced for
export bear the same prices a. like goods produced
Tor homo trade. Production exceeds home con-
sumption aud the excess seeks buyers for export
This excess suflices ~ deprcss the prices OF the
whole production until exporting merchants fnd
II profitable to take the surplus for foreign trade
Prices OF the whole production being at a COM
mon level, aud that low emo ugh 60 be indopen-
dent OF protection. as IL n low enough 10 IN
pete successfully In foreign neutral markets with
Since writing the above learn that one manufacturing
npany has been aud sti may be exception ronsiun.
their goods ~ Manehessor with satisfactory results