The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-07-20 00:00:00

COTTON CULTIVATION IN INDIA

A report has just been presented to the East India.
Company, from a committee in Bombay appointed to in-
quire into the causes of the decline in the cultivation of
cotton in that and other presidences. In making this in-
quiry, the committee carried their examination back as far
as 1834, when the mercantile privileges of the East India
Company ceased, from which date they find a rapid decline
both in quantity and value. This decline, however, has
shown itself the greatest last year, the export of 1845-46
for the whole of India having been less in quantity than itt
any year since 1840-41, and much less in value any year
since 1834. At the port of Bombay the average export of
the six years previous to 1846, was 384,427 bales, front
which the export of the last twelve months shows the
enormous falling off of 127,036 bales.
The cause of this decline the committee consider to be
the inability of the Indian cotton to compete with Ameri-
can, either in the home or the Chinese market. In the
latter the difficulty is principally the inability of the Chi-
nese manufacturer, using Indian cotton, to compete with
our yarns and goods made from American cotton.

The remedies proposed are, in the first instance im-
proved modes of culture, with a reduction of the fiscal
burthens borne by the grower ; and in the next an im-
provement in the mode and reduction of the cost of bring-
ing the crop to market. In Western India the commit-
tee considered the system of agriculture almost as good as
the circumstances of the country will admit of ; but the
introduction of the New Orleans description of plant is
recommended.

The fiscal burdens press onerously at present upon the
growers. A Customs duty of 121 annas per cwt. is levied
upon all cotton exported, except such as is sent to Europe
or westward of the Cape. This rate was fixed about 12
years ago, and at that time, the price of cotton being high,
it only amounted to an ad valorem duty of about 3 per
cent. At present, with the reduced prices of cotton it
amounts to Bor 10 per cent. The committee strongly
protest against the continuance of this impost, which.
presses the more heavily upon the Indian grower at times
(of low price of his crop) when he is the least able to bear
the burthen. With respect to the land rent, the commit—
tee consider it too high, and out of proportion with the
rent in the United States, against whose growth the Indian.
has to compete. They recommend, therefore, " a revision
of assignment, and its reduction where excessive."

Much, however, they find may be done by bringing down
as low as possible the cost of transit from the interior to
the port of shipment. The pressure of the present high.
rates paid upon the price of the article may be estimated
from the fact that whilst in the Dharwar district the first
cost of the cotton at the mart where it is bought is only 50
rupees per candy, the carriage to the coast, a distance of
only 110 miles, is 13rupees per candy. A still more fearful
pressure is felt by the producers of Central India. In ad—
dition, there is the depreciation which the article under—
goes from exposure to the weather, the dust of the road,
the sweating of the animals, chiefly bullocks, on whose
backs it is carried, and other drawbacks. The committee
states that, in the case of cotton bought in the market of
Khamgaum, the first cost does not exceed lid. per lb. ;
yet the expenses are not less than ld., or sixty-six per
cent., upon the cost.
A partial remedy for this evil is to be formed in the im—
provement of the present roads, the construction of tanks
and reservoirs at the various halting places, &c. ; but a
judicious system of railways in India can alone meet the
difficulty effectually.

FINANCIAL AND COMMERCIAL SUMMARY.

The money market has been influenced by the closing
of the account, for which money was much wanted, both.
in the stock and sharemarkets. This difficulty, however,
having been surmounted, prices showed an upward ten-
dency, and shares, in particular, were quoted at a trifling-
advance. The foreign stock market was also firmer.

The East India and China Association have recently
published their comparative statement of the number of
British ships, with their tonnage, entered inwards and.
outwards from and to places within the limits of the East
India Company's charter, from the Ist of Jauuary to the
30th of June, in the years 1846 aad 1847.

According to the details of the vessels entered inwards;
it appears that the return for the port of London shows
an increase of 26 vessels and 18,782 tonnage, the num-
bers for 1846 being 349 vessels and 148,927 tonnage, and.
for 1847, 375 vessels and 167,708 tonnage. The Liver-
pool return shows an increase of two vessels and 1,608
tonnage ; the Bristol and Hull return an increase of 11
vessels and 3,989 tonnage ; and the return for Clyde and
other ports an increase of 15 vessels and 4,753 tonnage,
making a gross increase on the whole statement of 54
vessels and 29,132 tonnage. Among the items consti-
tuting this result may be mentioned the increase in ar-
rivals from the Mauritius, stated at 28 vessels, from Bom-
bay 10 vessels, from Singapore and Penang 10 vessels,
and from the Philippine Islands 11 vessels. The principal
decrease has occurred in arrivals from China, Calcutta*
and Arabia.

The clearances outwards establish a decrease in the
case of the port of London of 37 vessels and 9,689 ton-
nage, the numbers being 247 vessels and 109,291 tonnage
in 1846, and 210 vessels and 99,602 tonnage in 1847.
There has been a decrease to the extent of 19 vessels and
2,616 tonnage in the case of Liverpool, and of 13 vessels
and 959 tonnage in the case of Clyde and other ports.
The only instance of increase is manifested by the return
from Bristol and Hull, where the number of clearances
exceeded those of last year by 5 vessels and 2,080 ton-
nage. Making allowances for this exception the total
decrease then appears to amount to 64 vessels and 11,184
tonnage ; the chief points in which a falling off has oc-
curred
being Calcutta, Bombay, Ceylon, Arabia, Mauri-
tius, and the Cape of Good Hope. On the other hand,
a slight increase has taken place in the clearances of ves-
sels to Singapore and New South Wales.
As far as settlements have been concerned, there has
been a busy time at the Stock Exchange, and even up to
the present moment the jobbers have not wholly completed.
their books in this respect. The Railway Share and Con-
sol accounts have undoubtedly been the heaviest, and,
with one single exception (the case of a broker who had.
before been found " weak " on the payment of differences),
they have passed over in the most satisfactory manner
possible. The fluctuations in consols have been continu-
ous throughout the month-and-a-half the account has had
to run, and the weight of operations is decidedly supposed
to have been in favour of a fall. The fine weather,
coupled with the good accounts from America, have, how-
ever, `• run counter " to the market ; and those circum-
stances, together with the anxiety of the " Bears " to close
their bargains, have helped in no inconsiderable degree to
improve quotations to the extent of nearly 1 per cent. since
Monday last. At the conclusion of the business on Fri-
day, the whole of the English securities presented a firm
and stable appearance, which is not quite supported this
morning. Bank Stock was then called 195 to 197 ; Con—
sols for-Money, 891- to f ; and for the August Account, 891.
Consol scrip has again reached pm. Exchequer Bills
show a little flatness, and barely maintain 9s. to 13s. pm.
Our Cotton market during the week has been steady but
lively in tone ; and the sales have been larger than last
week, principally, however, owing to an increased demand
for export. The total sales are 40,160 bales, of which
11,200 are for speculation and 7,700 for export, leaving
21,000 for the trade. Prices of American are the shade
higher. Brazilian and Egyptian kto a higher. The im-
ports are about 18,000 bales; the stocks 425,000, against
760,000 last year.
The Manchester market is improving, owing to the en-
couraging reports by the last steamer from Boston.

BEBINGTON HORTICULTURAL SOCIETY.—The second
exhibition for the year of this society took place on Friday,
in the gardens of the Rock Ferry Hotel. The attendance
was numerous and highly respectable, (including many
ladies of both counties,) and the show the best that hag
yet taken place on the ground. An excellent musical
band, relieved by the Lancashire Bell-ringers, enlivened
the amusements of the day. We have not room to par-
ticularise the various fine plants, flowers, fruits, &c.,
which deservedly attracted the greatest amount of admira-
tion, and must content ourselves with the names of the
parties who obtained the principal prizes—many of them.
for many and various products :—The Rev. J.Mainwaring,
G. J. Wainwright, Esq., H. Wynch, Esq., R. M. Beck-
with, J. T. Raynes, Esq., S. Branscombe, Esq., Mrs-
Millbank, Sir W. Stanley, H. Thompson, Esq., T. War-
rington, Esq., Mr, Killock, Oxton nurseries ; Mr. Davies,
Larkfield nursery ; Mr. Dixon, Chester ; Rev. R. M-
Fielden ; W. Sharp, Esq. ; T. Green, Esq., and many
others. The geraniums, verbenas, &c., were superb. Mr-
Fender, of Bold-street, Liverpool, showed some splendid
grapes. The roses were peculiarly fine. The society,
though it has been established only a few years, has evi-
dently put the growers of fine plants, flowers, fruits, &c.,
upon their mettle, and the competition, keen, yet generous,
has, no doubt, had an advantageous effct, not only
amongst the more wealthy competitors, but ail ire*
ai
humble neighbours. Improvement in Ale.
green-house, and garden of the opulciiti e,resph, M -
..
garden of the cottager, and, by a natural
rbtxibracirain the end, the field and every available spot,fOr 1,tiNa,.......
tion, to the increase of all that is beautiful-Or use fillip ~
the vegetable kingdom. We wish the. Bebington so , eiy
would add a few prizes to their list fOritheigacciurAge War'
of cottage garden productiou§. ',

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