The Southwestern Historical Quarterly, Volume 59, July 1955 - April, 1956 Page: 183
The following text was automatically extracted from the image on this page using optical character recognition software:
Texas Industry, z86o-z88o
time, cut prices to compete with Northern goods. Just as profits
were being pared from two sides, the panic of 1873 hit and a long
depression followed. Few Texas establishments had been able to
accumulate capital reserves, and all but the most efficient went
under. The net number of factories in Texas, which had increased
by 144 per cent during the 186o's, advanced only 24 per cent
during the shaky 1870's. Nevertheless, the gross product of Texas
industry rose 8o per cent between 1870 and 188o, and the pay-
roll fattened by 87 per cent. The factories which survived were
charging their customers only 38 per cent above the cost of ma-
terials and were giving labor 43 per cent of the value added. Al-
though events of the 1870's had provided a severe test of man-
agerial talent, the best manufacturers had been able to find capital,
buy new machinery, and improve production to make up for the
lower margin of profit."5
Industrial Texas had emerged like an athlete from training
camp, leaner but fitter for the trials ahead. It engaged in 1880 only
6 per cent of a working population that had grown by 395 per
cent since 186o, but the loss, which was relative rather than nu-
merical, had been largely of inefficient producers."5 True, Texas
industry had lost two magnificent opportunities-a virtual monop-
oly in beef-packing and a chance to manufacture refrigerators
for the rest of the United States-and it had failed at milling
cotton. But the record on the whole was one of great accomplish-
ment. Texas manufacturing industries had increased their gross
income from six and a half million dollars in 186o to nearly
twenty-one million dollars in 188o, a gain of 217 per cent. Their
products, almost a third as valuable as the products of agricul-
ture, constituted a fourth of the state's gross income in 188o, and
industrial Texas, healthier than ever, was ready to keep on grow-
ing with the country.1c0
58U. S. Census, 1870, III, 392-393, 573-574; U. S. Census, 188o, II, 15.
snOf 522,133 Texans gainfully employed in 1880, there were 30,346 in manufactur-
ing, mechanical, and mining trades, and there were only 117 miners and quarrymen.
Agriculture employed 69 per cent, and the rest were in professional and personal
services, trade, and transportation. There had been 105,491 'Texans gainfully em-
ployed in 1860. Ibid., I, 712-713, 773, 775; U. S. Census, x86o, I, 491.
0oTexas's three thousand factories in 188o grossed $20,719,928; its 174,000 farms
and ranches grossed $65,204,329. U. S. Census, x88o, II, 15; ibid., III, 38, 59.
Here’s what’s next.
This issue can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Periodical.
Texas State Historical Association. The Southwestern Historical Quarterly, Volume 59, July 1955 - April, 1956, periodical, 1956; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth101162/m1/201/: accessed November 23, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting Texas State Historical Association.