This Association, the head-quarters of which are at Now York, has recently published its report for the year ending May 13th, 1874. The document is extremely lengthy, and embraces a review both of the transactions and condition of the Association, prepared under the direction of its Board of government. The record is of an encouraging nature, for while many trades in the United States are lan-gushing and others in ruinous disorder, this Report represents the Silk. trade a being well in hand, watchful for the first awakenings which only legitimate wants should arouse, and fully content to bide the time which shall give to patience and wise self-reliance their sure rewards." Rofering next to the condition of the operatives engaged in the manufacture, the Report goes on to say that the silk mills throughout the country have thus far been well employed, the percentage of reduction from the usual hours of labour having been in all the mills but 12 per cent in the past year, In reviewing the operations of the several departments of the trade during the year, that of Ribbon manufacture is first analysed. This means of industry is represented as having been anything but flattering or enticing, and, in fact, as almost overthrown, its position recalling forcibly the dead condition of the Coventry Ribbon trade—not so many years since, the mart from which nearly the whole world was supplied with that special article. Fashion is and has been long neylectful of ribbons, and, says the Report, "even spring itself, her best and truest friend in days gone by, seems to have deserted her, and joined the ranks of her enemies." The natural result of no: demand was to glut the market, and this, again, led to reduction of wages; but from a belief in speedy recovery, though without even a shadow to base it upon, the looms were again started, factories refilled, and a fictitious demand for labor produced, which, increasing beyond the capacity of supply, soon engendered dissatisfaction and strikes among the operatives, and compelled an unwarranted advance of wages, in excess of the previous reduction, Beside "On the 5th of April, 1873, the Secretar of the Treasury ruled that Boyeaux and Con Edge Ribbons should be admitted under the 50 rate of duty instead of 60 a8 heretofore, and henceforth the protection of the home manufacturer was reduced to 50 per cent, on all goods known in the trade under those designations."
The Report especially refers to the standards demanded by the exigenciesof Fashion, and these involving frequent "changer in widths and colours, rendered unsaleable a large portion of the accumulated stock." The American manufacturer is thus said to have found greater difficulty in competing inst the much lower rates of wages pai panic of October, 1873, fell heavily. upon by foreign manufacturers. The monetary
the Ribbon trade, and caused the deepest depression; " but the Spring of 1874 was looked forward to as the panacea for all the ills under which it was suffering. There ensued a decrease of imports, a reduction in the cost of raw material, and wi again became lower, and these favourable circumstances gave some foundation for more hopeful expectations." The advent of Spring, however, brought no change for the better, for in the Uinted States, as in England, other kinds of material have taken the place of ribbons in the fashionable world, and the manufacture is no longer remunerative, The price of raw silk," says the report, "has declined (in the States) from 25 to 30 per cent. during the year, and yet, by reason of a much greater decline in the manufactured article, the producerfindsno outlet for his merchandise, except at an enormous sacrifice." The Repression in this branch of American itr principal causes of this extraordinary
dustry, is summed up in the Report as being traceable to the unsottlad state of the national finances, to heavy stocks, the too earnest desire to realize at any sacrifice, the more than customary fickleness of fashion, and the want of a proper power of discrimination on the part of those more immediately interested to be governed by the natural laws for the regulation of supply and demand."
'The trade in ladies' dress trimmings is spoken of in more favourable terms, and the prospects for the future are regarded as more hopeful, while the fall of the year is expected to bring a demand for goods in which Silk enters largely as the raw material, An improvement is also looked
Text read from the printed page and cleaned; old type leaves the occasional error.