The republic. [volume] (Washington [D.C.]) 1849-1853, 1851-02-04

lives appeared to us not less extraordlnary-we
mean that which has for its constituents the
growers of cotton wool. To them competition
for the purchase of their commodity would seem
to be as Indispensable as to the makers of the
ruads is competition for the sale of iron. Never
theless, with few exceptions, the whole body
of them was found voting to maintain system
which tends to restore to England her monopo-
ly as purchaser of cotton. Within the last
year the policy of 1876 has closed mills con-
tanning more than million Of spindles, and
producing more than million OF yards Of cloth
per day, and it has prevented the building of
mills, that would have contained three millions
of spindles, making three millions of yards per
day; and thus has the competition for the pur-
chase of cotton wool not only been prevented
from increasing, but il has actually and largely
been diminished. Competition for purchase
raises prices; and yet the consumer of iron, de-
string TO have cheapiron, destroys competition
for its sale. Competition for sale depresses
prices; and yet the producer of cotton closes
up the mills at home that use American cotton
only, in order that he may increase the compe
tition for sale in market in which Surat cotton
and Polish flour constitute important ingredients
in the manufacture of cloth.
These things strike US as singular, because
they are 50 decidedly in opposition to what
would be done by any of these gentlemen in
their individual capacities. Not one of the Re
representatives. of the planting States would hest
tate to say that self-interest required the main
tenance of competition for the transportation of
cotton, and that it would be highly injurious to
permit any single combination of steamboats, to
have a monopoly of the trade of his district.
Not one of them but would deprecate being
limited to any single body of merchants, as the
purchasers of his commodity, in the ports Of
Charleston, Savannah, or New Orleans, and
yet all unite TO prevent the existence of compe
| ttion for the supply of machinery for the con-
version of their cotton into CLOTH The spindle
| is as necessary to him as the steamboat; yet he
destroys competition in the supply Of the one,
while urging it in the case Of the other. Eve
ry man knows that coffee and sugar are sold
more cheaply where there are two shops than
where there is only one, and that grain COM
mands higher price where there are two mills
4
than where there is only one; yet in the case
of cotton it is supposed that prices will be ad-
vanced by means of system that secures the
control of the whole supply to single body Of
men banded together in Manchester!
In little time that object will be accom-
plished. The smaller mills throughout the
country are generally closed, and by degrees
the whole domestic production will be limited
to those owned by men whose capital is suffi-
cent to enable them to ride out the storm; and
then the price of cotton will fall, because of di
minished competition for its purchase, and the
price Of cotton cloth will rise, because of dimin-
ished competition for its sale-the planter obtain
ing less cloth for his cotton, and the laborer
obtaining less cloth for his labor, while the
middlemen grow rich.
Such are the views that were suggested to
our minds on witnessing the late division.
They are now submitted TO the consideration
of those who desire to have iron low and cotton
high, in the hope that they may reflect whether
the former can be reduced in price by main
tanning system which destroys competition
for its sale, or the latter advanced by one that
destroys competition for its purchase.