Baltimore commercial journal, and Lyford's price-current. [volume] (Baltimore, Md) 1840-1849, 1849-06-16

COTTON AND IT'S ovER-pRoDUCTIoN.

COTTON AND IT'S ONERPRODUCTION.
Il is a fact as striking in itself as it is important
in showing the capabilities of the country that the
United States grows more cotton than all the world
besides, and that the capacities OF the country
equal to the demands of the world
| The total amount of cotton raised in the world in
1881 was 900 900 900 pounds: of which 400 900, 900
vyas the product Of the United States. The remain
ing 40 millions was from the West and East Indies
Brazil, Mexico Egypt, and other parts of Africa and
Asia. Since them the culture of cotton in the West
Indies has almost ceased. In the East Indies, the
production of cotton increased rapidly for few years
but it has of late become stationary In all the cot
ton countries, other than the United States, it is
estimated that the increase of the foreign product
has not been over ten per cent; which would give
for all the world, except the United States, ISL 000
600 pounds. But while the foreign production has
increased only ten per cent from that period to 1SlS
the home product has increased from AGO millions to
900 100000, which, in round numbers, the
crop in 1S4S. This vast inequality shows conclu-
sivcly, that country in the world compete
with the United states, either in the quantity or
price of cotton.
This, however, is but one view of the case, and
not the most important to the cotton grower. Con-
sumption does not keep pace with production, and
the effect of this is very srikingy set forth in the
following articles from the New Orleans Bulletin
On the other hand, we see that the consumption
has increased in comparatively small ratio, leaving
annually an increased and increasing surplus of the
raw material which has necessarily produced cor
responding dminution of value In 1910, the guam
tity of cotton imported into, and consumed in, the
Kingdom of Great Britain, was 53l, 1877 ,659, of
which fully tour-fifths supplied by the cotton
growers Of this country. McCullorh estimates the
increase at about fifteen per cent, which would
make the British consumption of cotton, at present,
6lO,S77, 1907 pounds of which ,70 SIG pounds
| furnished by the United States France, Germany
and other European nations, require about 100000,
600 pounds. We thus have consumption Of &c.
S77,3O4 in Europe, against supply from all the
world of $4,000.
owe will confne ourselves to the consumption OF
Great Britain, which, we have seen, in round
numbers go 900 of pounds, of which the United
States supplies 4SS 100000. The average value of
this cotton in England at present is about cents
per pound, which makes the cost TO the English
manufacturer, of the clton received from the United
States about $50 096, 147. The amount returned to
the American planter from this same quantity OF
cotton say at cents per pound, would be in round
numbers S30,0O0,000
The capital including land, negroes, gins, presses,
horses, mules, etc. etc, required for the production
of the above amount of cotton supplied to the British
manufacturer, is at least Sl50,00O,0O0 which, we
have before stated returns to the planter 900 600
The capital vested in the British manufacture, OF
the amount of cotton, according to estimates
furnished bv McCulloch i'll round numbers, is Sl49,-
100000 and it is estimated that the amount of value
of products, per annum, is about the same as the
amount Of capital invested"
The inference to be drawn from such state Of
facts would suppose to be plain that this coun-
try ought to be the cotton manufacturing well as
the cotton growing country of the world. 1t is an
anomaly that many fabrics, of which American
cotton is the material part, should be made in
Europe. 1t is still anomalous that in any sec
ton of country there should be prejudice in favor
OF such system.
But another moral to be drawn from such a state
of fact is the folly of combining productions to single
branch of business. The planters from year to year
seek to make up for reduced prices by growing an
increased quantity, the effect of which is almost pre-
cisely the reverse of what is hoped for. better di
vision of labor would prove the superior value Of
some other system than this.