The Northern Daily Times.
Liverpool, Merseyside, England, 1857-04-23 00:00:00

THE SUPPLY OF COTTON.

A meeting of merchants, Manufacturers, &e., &c., has
just been held in Manchester for the purpose of forming
a Cotton Supply Association, John Cheetham, Esq., M.P.,
jn the chair. The attendance was rather numerous. The
Chairman, in opening the proceedings, said that the precise
object for, Which they had been convened was to forth an
association, having for its object the removal of the govern-
mental and other obstacles to tilt cotton supply from the
colonies of Great Britain, and to promote its cultivation in
those colonies and elsewhere. He was aware that such a
step was unexampled in the history of Manchester, but
it was justified on account of the extraordinary position
in which the cotton manufacture was at this moment
placed. He had been looking at the annals of that
manufacture, and he found with regret that since-
its origin, he searched in vain for any appearance of such
grave dangers as it now appeared to be placed in, When
they considered the extent of the cotton manufacture—
employing directly not less than MO,OOO persons, and,
indirectly, not less than two Millions of the population de-
pendent Upon it ; and when they considered`the extent of
its exporeamounting to thirty millions a year to foreign
Countries, and probably ten millions more eoneumed at
home, making a total of forty millions value, in the work-
ing up of this material: when they considered, moreover, •
the important intereses connected with it—the very exist-
ence, he might say, of the city of Manchester and the ad-
jacent port of Liverpool, and even the welfare of
the country at large ; they could not but approach
the subject with grave considerations. He held
in his hand a return of the limount of stocks
of cotton since the earliest recorded date, and a
brief statement from these returns would, he thought, justify
them in the movement they were making. In the year
1816 they had eighteen weeks supply of cotton fbr non-
sumption in the ports and in the hands of consumers; then
the stocks were, in secceeding years, forty-seven weeks
supply, 63, 39, 44, 37, 26, 20, and 24, until at the close of
1846 they had not less than thiry-nine weeks supply of
cotton. They would recollect, during the years 1843, 1844,
and 1845, the reasonable rates at which it could be pur-
chas,d, the price being 4fd to 4td per lb; but in the year
1846 the supply was,thirtysnine weeks, but suddenly, in
coes,.quence of the loss of 500,000 bales of cotton from the
deficiency of the harvest, and the increased consumption in
America and on the Continent, the supply on hand decreas-
ed, and we had never been able to recover the ground
again. The suppy on hand fell in 1855 to fourteen weeks
supply, and on the 31st of December, 1856, it was reduced
to only twelve weeks supply. Any one conversant *ith
the trade must admit that such a state of things was
exceedingly dangerous, hot only to the profitable pursuit
of the trade, but to its very existence. But this was '
not the worst : we had fallen upon this exceedingly
light stock when there came a deficient supply from the
great producing country of America. As be had said.
there was a deficiency of 500,000- bales, in consequence of
the failure of the harvest, while, on the, other hand, vi e
were rapidly increasing the consumption, and the c )nsump-
non was also increasing on the cmitinent of Europa. He
could scarcely credit the fact, that during 1856 the increased
consumption reached 300,000 bales, or 6,000 bales per
week. This was so different from other years when the
consumption was only 2,000 bales annually. On this
account he was almost led to doubt the correctness of the ?
data ; but when he found that 150,000 bales in excess of
previous years bad been shipped to Russia, which, how-
ever, might be to replenish the stock reduced by the Rus-
sian war, he did feel that these facts justified the position
he had taken.. The trade was never placed itt a position
of greater difficulty and danger. It was quite certain that
if, to provide for the comfort of the population of the
country, a cheap supply of food were necessary, it was
also important iu this district to have an equally abundant
supply of cotton, They knew the serious evils arising
from the confinement of the growth of corn ; and, when
the restriction was withdrawn, we had twenty countries send-
ing that article, and supplying us, but it was not so with
cotton ; therefore this question had no assimilation or com-
parison with the growth of corn. We depended in a great
measure upon one country for the supply of cotton, and we
could not contemplate, without serious alarm, the probas
bi ity of a deficient harvest in America, which would
render necessary the suspension of our mills. There were
many other countries which could aid us, and it was pros.
posed to send out asents with seeds of an" improved kind,
with machinery for cleaning cotton, and to afford' informa-
tion as to the very great benefit to be produced by turning
attention to the growth of cotton. It they did this, he
thought they should see as the result an abundant supply
of good cotton. Let them look at the country upon which
they were mainly dependent—America. It was true we
were told that high prices would bring us an increased
breadth of ground for cultivation. Ile admitted it ; but,
on the other hand, it increased the cost and value of slave
labour. 'Whatever the extent of the land for cultivation
might be, the slave labour was only 3 per cent per annum,
and that was the only available force, EO that even America
had limits in the supply it could give to us. If they looked
at the next country, India, it was true there was a widefield
there, bnt the resources and capabilities of India-had been so
ably handled in the committee which Mr. Bright moved
for and presided over in 1848, that it would be useless to
take up the question again. Several of the representa-
tives met last. session and discussed the question : but they
found the ground had been so carefully travelled over,
that it was useless to ask for the ye-appointment of the
committee. What was now required was not talking so
much as action. If the government had not failed to carry
out the suggestions of the committee, the trade would not
have been in the state it now was. With regard to the
India question, that was the principal point upon which
they could call upon the representatives in parliament to
bring home against the government the charge of negleFt.
While there was a large supply to be obtained from India,
the difficulties besetting the matter were so great as to
render it impossible to obtain the supply. It was clearly
the duty of government to -provide roads and public works,
to provide means of irrigating the plantations, to improve
the navigation of the streams of India, so that the produce
could be conveyed to the ports, and to carry out other
measures to develop the resources of that great country.
He was sure his honourable friends around him would
unite with him in pressing the government to do that
which they had so long neglected. The honourable
gentlemen proceeded, at some length, to describe how
cotton could be grown in Northern Africa, and in the
British colony of Natal, and-wound up by calling upon the
meeting to support the resolution which would be put
before them. Messrs. Thomas Bezley, Malcolm Ross,
George Hadfield, M.P., and others, spoke at some length.
The following resolutions were paused unanimously :
" That an association be now formed, to be calved 'The
Cotton Supply Association,' for the purpose of aiding in
the removal of governmental and other obstacles to the
growth of cotton in the colonies and dependencies of Great
Britain, and particularly for developing the resources of
British India where navigation and irrigation require to be
established, and for the extended cultivation of cotton in
every accessible country capable of producing_ it; for the
supply, upon such terms as may be . thought judicious, of
seeds, cotton cleaning machines, and presses ; and generally
*by affording information—by the diffusion of printed
directions for its cultivation—by sending competent
teachers of cotton planting and cleaning—by affording
prizes for the production of cotton in new fields of cul-
ture—and otherwise as may from time to time be
found expedient to promote the growth and
increase the supply of cotton to this country.
That a call of is per horse power be made upon the con-
sumers of cotton, being members of the association, pay-
able on Tuesday the 12ch May next, for the purpose of
enabling the council to commence the asso Aation's opera-
tions, and that the merchants of Manchester and others,
not actually consuming, but nevertheless largely interested
in the supply of cotton, be respectfully but earnestly re-
quested to promote the objects of the association, by be-
coming members, and contributing at the rate of not less
than .2 per atmum in respect of each firm"

F10ur..... barrels, .... sacks.

LONDON.MINING BIARItET.- ‘I4ML 22,

- -
There is no alteration of moment in the market for home mining
stocks, which remains dui!, with little business. The tran actions
reported in the Stock Ex( hange are 1 mited to Sortridge Consols, at
If ; Wheal Kitty (Lel.tnt), at 19; and w. heal Ma, y Arm, at 45.
United Mexican shares have been purchased at 31. Other foreign
stocks remain quiet.