The Texas Almanac for 1869 and Emigrant's Guide to Texas. Page: 95
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ADVANTAGES OF TEXAS. 95
alarge amount of American manufactures are annually sent abroad and sold
in foreign markets; but still it is stated officially that only about one seventh
part of the American crop of raw cotton has been consumed in this country,
the other six sevenths having been sent abroad for a market. These facts go
to show that, though manufacturing enterprise in this country has for many
years enjoyed great advantages over manufactures from abroad, in supplying
our own market, yet our manufacturing interests require to be still greatly
enlarged to meet the wants of the country; they fall far short of being able
to supply our home demand for their fabrics, and still farther short of being
able to consume our own cotton. And this deficiency in our manufacturing
labor and capital has led to what appears to be a very unnatural course of
trade attended with much loss to ourselves; for we now have to send our cot-
ton abroad for sale, and then bring a considerable part of it back again in theo
form of fabrics; while by manufacturing it at home, the cost of transportation
both ways, together with many other charges, would be saved.
All our statistics, and all the facts bearing on the subject, go to show that
there is probably no interest in this country that offers so great an inducement
for the investment of capital as manufacturing. According to the reports of
manufacturing companies, they usually made three or four times as much net
profit on the capital invested as the producers of the raw material, even in
the time of slavery, when the producer had a perfect command of the labor.
And though the prices that have ruled for near a- year past afford much
encouragement to the cotton planter, yet the greater difficulty and cost of
procuring the requisite labor, and the heavy losses and great uncertainty con-
sequent upon the rvages of the cotton-worm of late years, may be considered
as fully counterbalancing the improvement in the price, even should the pre-
sent price be maintained. But our past experience of the sudden fluctuations
of the cotton market, which is dependent upon so many contingencies entirely
beyond 6ur power to control, or even to foresee, does not certainly justify us
in calculating upon twenty cents a pound; and yet we believe that thirty
cents a pound would fail to make its production, under present circumstances,
as profitable as manufacturing it. The ten or twelve cotton factories already
established in Texas are, according to the reports given us, affording handsome
and satisfactory profits to the several companies, and these profits will increase
just in proportion as they are able to increase their machinery ; for by this in-
crease they may turn out nearly double the amount of yarns and fabrics with
very little addition' expense for skilled labor. We are glad to see that capi-
talists are now turning their attention more than ever to the great advantages
of manufacturing in the South, and that new companies are being organized
in all parts of Texas. It is but natural that the loss of our agricultural labor
should lead to this result, and we feel that we can not too earnestly warn our
people not to be tempted again to the excessive production of the raw mate-
rial by the present apparently high prices. These prices are, no doubt,
mainly attributable to the greatly diminished supply caused by emancipation;
and though no exertions we can possibly make will probably ever again pro-
duce the former supply, yet it is quite certain that every effort we make in
that direction will have a direct tendency to reduce the price, and thereby de-
feat its own end. While, then, our farmers should make it a rule never to be
departed from, to limit their cotton crop, and introduce other agricultural pro.
ducts, many of which will doubtless, in the end, prove more profitable, and
will certainly require far less labor, and be attended with less liability of loss;
those who have the commandof capital can not fail to find it more for their
interest to embark in manufacturing pursuits, for which Texas possesses so
many advantages. For many years the South has complained that the pro-
tective duties have operated as a tax on our people because they were all con-
sumers of manufactured articles. In proportion, therefore, as they become
manufacturers, they will not only escape the tax they have heretofore comn-
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The Texas Almanac for 1869 and Emigrant's Guide to Texas., book, 1869~; (https://texashistory.unt.edu/ark:/67531/metapth123774/m1/87/: accessed May 5, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Texas State Historical Association.