OCR Text |
Show OXi.V ONE EXAMPLE. Free trade democrats continue to howl against the McKinley bill, but facts will not down. Woolen manufacturer's manu-facturer's oiler a remarkable instance of the way in which protection tends to increase competition, reduce prices, and diminish profit. From 18b0 to lS'JO the capital engaged in woolen manufacture manu-facture rose from 1159,091,869 to $314,-o&"J,t)44, $314,-o&"J,t)44, or almost exactly double; but, w hile the average output of product per mill was 109.388 in 1880 on an average av-erage capital per mill of 859, Kio or nearly two-fold the average product per mill in 18!0 Avas 8186,190, on an average mill capital of 8155,573. The price of the manufacture! product, it is scarcely necessary to say has fallen materially from 1880 to 1890, so that this great fall in the overturn of pro-duet pro-duet on each dollar of capital represented repre-sented a reduction in the reduction in the return of capital antl a decrease in the expense of manufacturing; both of which went into the consumer's pocket. |