Year: 1867

The late action of Congress is beginning to tell up
on the business of the North to such depressing
tent as to create considerable alarm. In attempting
to ruin the South they are bringing down ruin upon
themselves. The depressing influence is not confined
to any one branch of trade, but all come in for their
share. As an evidence of what we have said copy
the following extract from the Manchester On. II }
Daily Union, published in the second largest manu-
featuring city in New England


At no time during the last thirty years, except a
short time during the early days of the rebellion has


the cotton and woolen manufacturing business been in
so depressed a condition at present. At Lowell,
Lawrence, and nearly all the other large manufacture


ing towns in Massachusetts, well as those in most of
the manufacturing towns IN other portions oil New
England, the mills running at loss. For several
months past there has been but small demand for
goods, and immense stocks have consequently accu-
mulacd, and are now in the hands of the manutactu-
rcrs, waiting for market.


In this city the business is at very low ebb, al
though the mills are still running We learn that the
Manchester mills end print works have goods on hand
unsold of the value Of upwards of two millions of dol
lars Within few months past the stock of the COM
pany has fallen in the market at great per cenage in
consequence of this condition of affairs. The same
state of things exists with the Amoskeag company.
They also, if we have been rightly informed have on
hand large stocks of manufactured goods for which
there is call i'll the market We have also been in
formed that the Stark mills have sunk $4,000 within
few months, for the same reasons All these COM
panes are holding on their goods in the hope that
they may sell them without runous loss.


What is true of cotton and woolen manufactures is
also true of the shoe business Lynn, llaverhil,
Randolph, and other large shoe manufacturing towns


in New England, the business is In very low condl-
ton as compared with what it has been in former
years. When manufacturing i'll healthy state,
orders for shoes in thick and fast from the South
and West and mechanics were busy and received good
prices for their labor. But comparativey y few
goods are manufactured for the that there
but few buyers


Now there are some people who are so little ac-
quanted with the true state of affairs that they
ready ask the of this depressed condition of
the great manufacturing interests OF the country But


the great business and the capitalists who manage
great financial interests, and who watch the duc


uatons of trade have difficulty in solving the prob
lem. They know that difficulties occasioned
almost wholly by the chaotic of the great pot
cal affairs Of the nation. Under this state of things
how idle to expect anything better than social chaos
What folly to suppose that under these circumstances
trade or the arts of peace can ouriSh The corrupt
and selfish men who control the Government are will
ing to see all these evils brought upon the country
rather than to yield up their power and just long
they bold the rens there is no hope OF better state
of affairs Our great business men OF all parties know
all this and even the honest conservative Republ-
cans would be glad to change in the principles
and policy OF the government. we nave n0I 1HS
least doubt that if all the men of this class in the ranks
of the Republican party to speak out their hon
est sentiments, and to accordingly should see
at once the dawn of better day. But whether they
will assert their true manhood and to be any
longer the slaves of party ntriguers to be ashcd and
reined this way and that their selfish interest may
dictate, is question for themselves to settle. Whether
they will have sufficient moral power to act according
to their own best convictions and join with the wise,
the prudent and the patriotic of other parties in
rdding the country of the great hideous incubus
which now haunts and oppresses it. is question which
can only be solved by the events of the future