Scott—Labor Conditions in Massachusetts, 1860-70. 185 
ing the ten years. 94 According to the United States Census for 
1870, goods worth $1,000,000,000 in 1860 would have been 
worth $1,560,000,,000 in 1870. In other words, “the Superin- 
ten dent is disposed to regard 56 per cent as a just statement of 
the increase in price for all classes of mechanical and manu¬ 
facturing productions between 1860 and 1870.” 95 If the total 
value of manufactured products in 1860, $255,545,922 he mul¬ 
tiplied by 1.56 the result will be slightly less than $400,000,000, 
which, subtracted from the valuation in 1870, gives an absolute 
increase of over a hundred and fifty million dollars during the 
decade. Business conditions were still unsettled, however, and 
it is probable that the profits of manufacturers were small. The 
total cost of raw materials rose (in currency values) over 147 
per cent 96 during the decade, while the total annual value of 
products rose only 117 per cent. The Report of the Boston 
Board of Trade for 1867 says that business men., with few ex¬ 
ceptions, found their profits in 1866 less than they had found 
them for some years. 97 The next year they speak of “extreme 
depression in all branches of business.” 98 There is the same 
sort of complaint for 1869. “The manufacturer has found it 
difficult to obtain cost for his goods. . . . We must, how¬ 
ever, look for these fluctuations until all business transactions 
are conducted on a specie basis.” 99 In 1870 conditions appear 
to have improved slightly, but, “small profits and strict economy 
in the sale and manufacture of goods is now the order of the 
day.” 100 Evidently prosperity had not been entirely reestab¬ 
lished at the end of the decade which we have been considering. 
In general it seems safe to conclude that the thirteen years 
from 1857 to 1870 were a period of more or less economic de¬ 
pression in Massachusetts. The lowest point was touched in 
1861 when the outlook was as black as it has ever been at any 
time in the history of the United States. Conditions in 1865 
94 u. S. Census Reports, I860, 1870. 
95 u. S. Census Report 1870, vol. on Industry and Wealth, p. 379. 
96 From figures in U. S. Census Reports, 1860, 1870. $135,053,721 in 
1860. $334,413,982 in 1870. 
97 p. 42. 
98 Report for 1868, p. 121. Review of the Market for 1867. 
99 Report 1870, p. 127. 
igo Report 1871, p. 138. 
