The Marietta journal. [volume] (Marietta, Ga.) 1866-1909, 1885-09-03
agricultural.
SMALL INDUSTRIES.
Extract from an address by Prof S. Water
house


house
But agriculture, though highly
important, is not the only source of
national wealth. A Investigation
OF manufactures is as essential to
public prosperity as a variety of ag-
ricultural products, The right adj
justment Of those complimentary in
dustries effectively promotes materi-
al advancement. An intelligent
economy would recommend diver
sity of crops, but not larger pro-
portion of husbandmen
A wide observation and careful
study of sources Of national wealth
have convinced me that multitude
eff small industries is far better than
a few great ones. France long ago
adopted the system Of widely diversi-
fed manufactures, and Germany is
wisely following the prosperous ex-
ample. The aggregate values which
hundreds Of minor pursuits create
are startingly great. The rapid ac-
emulation of capital by these ma
tions attests the soundness of their
economic policies. An adoption of
their industrial systems may enable
the South to rival their material pro-
gress. Apart from costly Injuries,
there are numerous common articles
of food, dress, and tools which every
community must have, and if these
wants are supplied by home produc-
tons there will everywhere be regu-
lar employment, fair wages, and do
nestle markets. 1t is my own pro-
found conviction that, wherever the
laws Of nature and economy permit,
the demands Of every neighborhood
should be satisfied by local products
With necessary notifications, indus
trial independence should be the aim
Of every section Of our country. Such
system would reduce the excessive
disproporton Of farmers by transfer
ring many laborers to other pursuits,
raise the profits Of husbandry, quick
en- the sale of local manufactures, save
the cost of distant transportation,
avoid the charges of middlemen, and
distribute all the profits Of the vari-
Gus industries in the neighborhood
Of production.
In the midst of general plenty,
without any failure Of crops or the
devastation of war, an unwonted pros
tration Of business paralyzes the pro-
ductiye energies of the country
Values shrink, trade languishes
manufactures suspend. firms fail, and
universal distress prevails. In times
Of commercial depression, public
economists studiously explore the
causes of the crisis and seek the
means Of preventing its recurrence.
1t is my profound belief that a diver
sifoaton of industries will do more
to obviate financial reyulsions than
any other eXpedient which political
economy can devise. The natural
and social wants of man demand q
constant supply of food, clothing
ane mechanical utensils When
these articles of ordinary necessity
are produced in every section of the
country there must always be fan
degree of business activity. Even
IN times of depression the wages OF
production and the profits of exchange
will be means of subsistence, while
in periods Of prosperity they will be
source of wealth. When section
is dependent upon few staples their
failure involves the people in ire
trievablc loss. There is no resource
left. No means of relief alleyiates
the distress OF the poorer classes.
But when there are many industries
some are sure TO survive the crisis
and flourish in the midst of ruin.
Their prosperity lightens the bur
dens Of public calamity and tacili-
tates the revival of business. No
countries in the world equal France
and Germany in the ease with which
they rally from the effects ola com
mercial depression. The myriadfold
variety Of their industries is the sole
cause OF this marvellous power of re-
cuperation from financial embarrass-
ment. 1t is probable that no device
of craftsmanship or philosophy viii
ever wholly obyiate business panics,
but sound economic system is the
best preventive Of their frequent oc-
currence. Industrial independence
isa means Of prosperity in peace and
Of safety in war.
GREAT HEAD.
She answered the ring at the door
to lind "A StrauUp. man an tho stems