The southern press., 1851-10-11
$3.50. 900 9,953,OO0

These results, multiplied by five, will show
that the whole production in twerty five years.
has been 40, 76O 900 bales, and that the consump
ton in the same time, has been 40 765 900 bales,
or an excess over the production of 5000 bales,
or 200 bales per anBum. How much greater
the consumption would have been had the raw
material been furnished in increased quantity,
your committee will not conjecture. Enough
is shown by the facts to establish an important
point that the extent OF consumption up 10 this
time, has been controlled by the extent of pro-
duction, and we must, therefore, look TO other
causes for the ruinous depressions In price, to
which we have so often submitted.
TIE second point requiring investigation Is
the capacity Of the world for over. production.
To this, your committee concede there cannot
be definite answer given; they incline, how
ever, strongly 10 the opinion that, at fair prices
and with proper organization on the part Of the
American cotton planters, the capacity for pro.
duction does not and never can exist.
The extraordinary increase in the production
Of the world in the FIVE years, from 1870 to lsI5,
averaging $4,000 bales per annum, caused a
regular increase in the stock Of raw material
left on hand in Europe at the close Of each year.
until on the 3lst Of December, lS45, II had
reached 1871, 900 bales, estimated a sufficient
for tweDty-six weeks consumption. The v
erage increased production In the United States
for the next -four years embracing the crops Of
IS45 and 1S4S) was ll7O00 bales per anDum,
and vet on The 3lst Of December, lS49, the
9 ock on hand in Europe was reduced 646 600
bales estimated a. sufficient for only thirteen
weeks consumption. The crops Of l849 and
1850, not eqlalling the average 0onsumtion Of
the last FIVE years, il may be safely asserted that
The consumption is now being limited and eur.
tailed by a short supply Of the raw material.
To sustain this view Of The case. we make an
extract from document read in 1850, by one Of
the secretaries of the board Of trade. before the
British association at Edinburgh. =" Great Brit
ain now II, and for many years has been, depend
ent not nj all upon the good will of the citizens
Of the United States 10 sell their produce 10 ~,
but very much upon the Influence If seasons, for
the means Of setting TO work that large proper
ton Of its population which depends ~ on the
cotton manufacture for the feeding Of them.
selves and their families In the present condi-
ton Of our cotton trade any serious falling Of
in the amount Of cotton crop In the United
States, necessarily abridges the means Of labor
ing among our Lancashire and Lanarkshire
spinners and weavers. Srch n falling off il, in
any year likely TO occur. We have felt its in1u.
ence twice within the last few years, are at this
tlH1e Suffering uUurr ", auu are N1IthhUtu WIN
another adverse season, the effect OF which must
be to deprive Of employment large proportion
Of those spinners and weavers whose labor il
bestowed on the preparation Of coarse goods"
"Our supply Of cotton has hitherto been
drawn in very huctuating proportions, from
British India, Brazil, Egypt, our West India
colonies, and the United States Of America
From this last named country, the quantities
were, for long series Of years, in continual
condition Of increase. From Brazil, our i'm
portations have sensibly lessened, without any
reasonable prospect Of future increase. From
Egypt, the quantities fuctuate violently, and de-
pend greatly upon causes not falling within or.
binary commercial considerations. In the Brit
ish West Indies, the cultivation Of cotton has
for some time ceased 10 form regular branch Of
industry, and il is hardly to be expected that
having thus ceased TO be profitable when prices
in Europe were uniformly at higher leve
than they have been now for long series Of
years, the culture TO any important extent vii