COTTON". 



ply of 1877, clearly showed a deficiency; con- 

 sequently, spinners "stocked up" and prices 

 of goods improved. But the rumors of war in 

 Europe, and, finally, war itself, wholly changed 

 the situation, giving a drooping tendency both 

 to cotton and to manufactures. 



But, in spite of these conditions, and per- 

 haps, in part at least, in consequence of them, 



progress was made during the year both by 

 the manufacturer and the producer of cotton. 

 The former has progressed in the work of de- 

 veloping new markets for his goods. A close 

 study of what has been done in this respect 

 gives a very hopeful outlook as to what may 

 be done. The exports of cotton manufactures 

 for the past five years have been as follows : 



"Here," says the same authority, "is a rise 

 in 6 years from 2 millions in value to 10 mill- 

 ions. The total even novv is, of course, very 

 small, but it is highly encouraging, for time 

 and experience alone can acquaint us with the 

 wants of any trade; and besides, this growth 

 has been reached in spite of the very many ob- 

 stacles which have been interposed by our- 

 selves. "We cannot let this opportunity pass 

 without repeating what we have often said be- 



fore. The margin for profit is of necessity 

 small, hence every impediment, however tri- 

 fling, to the freest, cheapest intercourse with 

 nations wanting our goods, cripples or fetters 

 to that extent the trade. What, then, we re- 

 quire, is to have our navigation laws changed 

 and reciprocal trade fostered ; or, in a word, 

 we need to have every facility offered for 

 making freights cheap and for securing the 

 fullest and freest intercourse. When this has 



THE GIN IIOU8E. 



been done, our country will experience an in- 

 dustrial development hitherto unknown to 

 us." 



In the South, manufacturing, during the 

 past season, was rather more satisfactory than 

 in the North. Some progress was made in 

 new enterprises ; and, on the average, the run- 

 ning time of the mills was fuller than in the 

 preceding year. " That section just now pre- 

 sents a more hopeful condition than any other 

 portion of the country. She is virtually out 

 of debt; her people have learned to econo- 



mize, and to produce with economy raising 

 their own food as well as supplying the world 

 with cotton. This year, also, labor is under 

 control for the first season since the war, and 

 next year will be more entirely so, permitting 

 of further economies not heretofore possible. 

 Cotton production will therefore increase, as in 

 the past, and at a decreasing cost to the planter 

 per pound. But the producer need not be 

 frightened with large crops at low prices, for 

 new uses of the staple are constantly being 

 found ; and with peace in Europe, and a revi- 



