The Sun.
London, England, 1862-09-24 00:00:00

PUBLICATIONS.

could receive an abundant supply it would take the place of
the general supplies from the United States. People had
been relying generally upon the operation of the law of sup-
ply and demand. For nearly two years the price of cotton
had been continually advancing; but a five-fold price had not
induced exertions to give us the needful supply. Although
he computed that not less than 20 millions sterling had
been obtained by the advanced prices in cotton, it could not
be shown that one shilling of it had been embarked in the
cultivation of cotton on an extended scale. (Hear, hear.)
No doubt in time the exorbitant price would bring the cot-
ton, but meantime we were sustaining losses and sufferings
that might lead almost to the annihilation of our industry.
The same sum of twenty millions would pretty accurately
represent the amount of loss which would have been sus-
tained by the cotton trade, in labour and capital, at the end
of the year by that enhanced price. It had been suggested
that cotton-spinners and manufacturers should immediately
begin to grow cotton to supply themselves. Granted to a
great extent that more vigorous efforts ought to have been
made, yet he asked whether that part of the community
which had been sustaining the loss to the extent of twenty
millions should embark in cul ivating the article, the want
of which entailed this heavy loss, or whether those who had
made the twenty millions of profit should become the
pioneers of extended cultivation. In this period of suffer-
ing and distress ought the calumnies which had been poured
forth so freely upon the employers of labour to be so exclu-
sively devoted to them. We had attained no great and
good object in this country without organisation. But on
this question hitherto everybody seemed to have been de-
termined to leave his trade, his workpeople, and commu-
nity, and take care of himself, pursuing au independent
course which might lead to ruin. They had duties to per-
form, not only to themselves, but to their country. The
whole cotton world was before them, and he hoped efforts
would yet be made. He wondered whether those gentlemen
who had the spirit to construct so many new mills in Man-
chester and the district were aware of the sources of supply
and the markets for their products. The prospect was
disastrous. But beyond the duties of merchants and ma-
nufacturers there were important duties devolving on the
Government. The cotton trade had been a source of conti-
nually increasing revenue, and surely no wise minister,
seeing that this great industry was dependent on one source
of supply, would hesitate to remove all the obstacles to in-
creasing it. (Applause.)
Mr. EDMUND ASHWORTH, vice-president of the assoeia-
tion, seconded the adoption of the report. He said that the
prominent question for the distressed people of Lancashire
to consider at the present juncture was as to the probable
quantity of cotton America would send in the future. At
a moderate calculation he estimated that, after the present
difficulty was over, the cotton-growing States of America
would produce one quarter less than heretofore. If, then,
there should be a million of bales less from America, from
what quarter of the globe would the deficiency be made up ?
South America would probably increase from 120,000 bales
to 220,000 in a couple of years; Egypt might double her
supplies; the Turkish dominions perhaps would send us
another 100,000; but this only made 300,000 bales. The
fact was they could not now see whence the million of bales
were to come from, especially as the reports from India had
disappointed them. The Indian Board in London taunted
them that there was plenty of cotton in India, waiting only
for exportation. A spirited Manchester merchant, therefore,
offered to advance a quarter of a million of money to pur-
chase the cotton if the Indian Board would send an agent
to point out where the cotton was to be found. But the
Indian Board backed out. (Cheers.) If the Land Tenure
Bill and the contract law had been enforced, as was ex-
pected, India would now have been supplying us with cotton.
(Hear.) They had again and again applied to the Govern-
ment for assistance, and the Government, which ought to be
parental, and which ought to have given them every facility,
merely said " Grow the cotton yourselves." (Shame shame.)
And yet these people in London,who were continually thwart-
ing them, were servants of the State, whose wages the public
paid. (Cheers.) The trade had not united as they might
have done in this matter. They ought to demand free access
to their fellow-subjects in India, that they might be of
mutual benefit to each other. They had found the Turkish
Government represented by its ambassador—a Government
which had been considered despotic and fallen—more cor-
dially respond to their proposition to increase their inter-
course with Turkey and the Turkish dominions than the
Indian Board had done. (" Shame," and cheers.) The
Indian Board had treated them from the first with the
greatest contempt and contumely, had stated that which
was not true, and had treated all the arguments as those
actuated by merely selfish motives.
The report was adopted.
Mr. MALCOLM Ross mvvcct tno reapporntmeac or officers
to serve duting the coming year. He said one important
subject which just now engaged their attention was the
proposed substitutes for cotton. Without wishing to pro-
phesy, he believed that in the end they would come back to
the point from which they started, and again acknowledge
cotton to be king. (Hear.) He severely condemned the
maladministration of the Indian Board, and detailed the
various treatments the Manchester deputations had been
subjected to by Sir Charles Wood and his colleagues in
council.