The southern press. [volume] (Washington [D.C.]) 1850-1852, 1851-10-11


Thus it is seen that the per cent. increase in
American cotton has been rapidly declining,
| until we are now down to three per cen. per
per annpm. Not so, however, with American
nsumption-that is increased in the same
time, more than nine per cent. per annuu The
per cent. increased production in the world, for
the last five years. is down to an average of
80 100 per annum while the per cent. in
crease in consumption has been 5 80, 100 per
AMMAN and leaving out England, France and
the United States, the increase in the balance Of
the world has been 46 per cent, or more than
nine per cent. par annum. This state of things
cannot continue; the rate of production mt t
be increased or the rate Of consumption dimin-
shed-the equilibrium will be found.
These calculations show, that the area for the
consumption Of cotton goods is enarging-that
the vast and yet unsupplied population of the
earth are rapidly maturing competition, which,
without greatly augmented supplies Of the raw
materials, will at no distant day, be seriously
felt By the manufacturers and con sumers ofEng-
land France and the United States. The com
merce Of every civilized nation Is opening new
markets and enlargng old ones for our benefit
To what extent new markets already found have
been supplied compared with their wants, or
how many Others are yet TO be opened and sup
taining, but an inference may he drawn from
the fact that the largest five years average pro
duction the world has yet furnished, is ,79l 900
bales per annun That of these England, France
and the United States require FOE their consump-
ton, from 100000 to 100000 bales leaving
not more than one fourth Of the annual product
to sup1v the balance Of the world, with n popu
ation, probably ten times as large as their own
Under such circumstances, il may reasonably be
suppo ,ed that with fair average prices, markets
will be found for all the cotton which we now
have, or ever will have, ibs ability to produce.
Having now shown that there has been no
oyeT-production in the aggregate, and that there
is no reasonable probability that there ever will
be- your committee will attempt TO show the
effects of irregular production on prices and
consumption-IIere, your committee believe,
may be found The source of nearly all the ictu-
atoms to which this great interest has been sub
jected To illustrate the effects Of irregular
production, three simple suggestions will b
used, remarkng that extreme cases are selec ed
and a single year used to establish a principle
where, in practice, several may be required
Suppose that the crop Of 1851, should be
100000 bales-that to manufacture these,
100000 900 dollars Of capital must be invested
and 100000 operatives employed
the capital and operatives furnished the op
manufactured, sod and consumed Then sup.
pose the year 1852 yields only 100000 lies.
To manufacture these, only two thirds Of these
operatives are necessary. What is to become
! OF The other one-third Of each! To retain their
position, short ume is re 'orted to- and this, it is
| found staryes the operatives and destroys the
dividend on the capital. 'Fhen fine numbers
only ara spun. these are found to be upsaeable,
and give an unhealthy character to the manufac-
turing business. These palliative fail, as they
always must, and the equilibrium is rsso Ted by
driving out one-third of the capital and labor,
10 seek employmentin other pursuits promising
more stability.
Then suppose the year 1853 furnishes another
crop Of 100000 bates What is 10 be done
with ~ The capital remaining is only sufficient
20 manufacture 100000, and without manu-
featuring, il cannot be consumed The result
u ineyiiable-the crop sells for trife and, at
the close Of the year, there Is surplus Of
100000 bales in excess Of the usual supply,
and his, perhaps, 70 be increased by good crop
in 1884.
Under SUI circumstances, spectators seeing
no prospect ~ Improvement withdraw from the
market--the manufacturer Is left without CON-
petition, and fixes the price 10 suit himself--the
planter becomes discouraged, and forces his
WYNN hll ~ AtlN AilfiN NihA - hhfifh-hNltf
thu general cry, that the production is immea.
sarably ~ adyancs ~ the consumption-vies
With the manutactorcr ia sslng the impression
and Masking u universal, that large supplies aud
loo prizes afe Inevitable tor all time to come.
Thi. impression being fixed, capital flows in
rapldy. rev factories 90 up In oil directions, old
ones are enlarged and improved, trade In Man
chs-ia. becomes healthy, new and extensive
MAKE are iosnd Cor the consumption Of cot
ton goods. ard IN feT yesss, - To utter aston
i.hmeid II all the word, u j. found that the
picture has hcen rcversed-that an unpreee-
aaa.aa insrrnse in the consumption has taken
Plaes---sie s.splss all gone-prices move mp
wAFi--a short crop u MADE, and cspitsl j.
sgain driven out. 90 be- Invited back, by the
ssuis pro-ess sftef smother long period Of de
Pr-s-ipn ~ prices,
T.ese. F1rf coniaities bclFvc, are the nat
ufnl rrsult n irrcralar production, end were II
possible n ohiiin such concert ~ action among
p.aaiora 81 uuuld redace the annual crop one
half the sane principles would govern, and the
Sane results H. 0btained ullmstely.
ia ~ true. a. yopr committee have Supposed,
and a = rsrrf.,l examination az the pro1uction