The Merchandise Marks Act of 1887 has caused a reaction in the tendency
towards short lengths and false description, by making it a penal
offence to falsely mark goods either in respect to dimension, quality,
counts, or place of manufacture.
In addition to these, the variation of tariff charges, notably the
reduction of Indian tariffs, the returns and reports to Parliament of
statistical information, the Inquiry Commissions, and some few small
enactments, all have their influence in a greater or lesser degree on
the industry.
The cotton goods of a standard make at the commencement of this
century comprised printer, muslins, corduroys, fustians, sheetings,
shirtings, twills, ginghams. In 1830, records give madapollams,
tanjibs, domestics, jacconets, gauze leno, figured muslin, splits,
and velveteens. Later, in 1846, there are chronicled lawns, books,
nainsooks, figured counterpanes; and, in 1864, brilliante, chambrey,
blue mottle, satin checks, in addition to previously mentioned goods,
from which list the absence of dhooties, Turkey reds, Turkish towels,
and cloths of later origin will be noted.
A comparison of the position of the cotton trade to-day with
what it was some thirty years ago shows a decided change in one
respect--_i.e._, in the firms conducting the business. Many of the
old private firms have disappeared and their places been taken by
companies, while, for many years back, the tendency has appeared to
be in favour of carrying on the trade by the co-operation of small
capitalists. Some of these companies are not limited, being formed
by a few speculative operatives who invest the savings of a frugal
lifetime in the mill concern, to which they also devote their labour,
being satisfied at the year’s end if they have drawn an ordinary wage,
week by week, while the capital has been added to, and increased.
Manufacturing, in consequence of the comparatively smaller amount of
capital required, is generally selected for the above system.
To these establishments many of the wealthy manufacturers of North
Lancashire can trace the beginning of their prosperity. By far the
greater number of these companies, however, especially in spinning, are
on the limited liability principle, and their increasing number shows
how valued, as an investment, such companies are; so much so that it
appears not unlikely, what with the narrowing margins and increased
competition, that the trade will, at no very distant period, cease to
be a means of making the wealthy cotton lord, and, as the trade falls
into the hands of gigantic companies, become merely a bank, with a
small rate of interest, in which the wealth of the smaller Lancashire
capitalists will be locked up.
Public-domain text, read in full here on John Shaqi.
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