The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1861-02-08

Tie English manufacturers are at last thorouoh-
y irghtenedat the aspect of affairs in this country
They have found out that the movement
in the South is a serions one, and they have be-
gun to realize the fact not only that dissolution Of
this Contderacy is not improbable but also that a
civil war is among the possible contingencies
of the future. Under such circumstances they
have very naturally begun to consider how far
events, so caamitous to us, would affect the nros
perity or tranquility Of England. It seems to be
generally admitted, that any revolution, which
would temporarily check our manufacturing and
agricultural operations would give an immense
impetus to almost every industrial pursuit in Great
Britain, except to such as are in some way con-
nected with the all important cotton trade But
in this exception are included the interests about
which Englishmen are most solicitous-tor the Sc.
riouS arrangement Of that branch of industry.
which relies for support upon an adequate and
steady supply Of cotton, would throw into in extri-
cable confusion the financial and commercial ar.
engagements of England, and perhaps her political
system also. So much capital is invested in the
cotton factories, and so many people are absolute
ly dependent on them for bread, that their stop
page for few weeks would create the most
unparalleled ruin and distress. Now as nearly
all the cotton which is received in England Is
grown in the Gulf States, the questions which the
revolution in that quarter presents for the consi-
deration of her manufacturers, are of the most
vital and momentous character The earnestness
with which the English journals are now discuss
ing this subject, shows not merely the Importance
they attach TO it, but also indicates that they re-
gard the future with great anxiety. Feeling more
keenly than ever the misfortune of being depcnd-
ent on one source only for their supplies, they
have determined to seek more zealousy than ever
a solution of the problem, whether cotton can be
probably grown in large quantities outside of the
UNITED STATES. Information is again sought for
in all quarters Of the globe and the government
has volunteered the services Of its consuls to prose-
cute the inquiry, while the press is, for the
titteth time, flooded with communications to prove
that it is the easiest thing in the world to raise
cotton abundantly and cheapy in very many
parts of Asia, Africa, and South America, and
even Of Europe. Renewed elfors are being made
to stimulate the natives of those countries to take
to cotton planting, and to induce white men to
emigrate to the favorable districts and enter upon
the same occupation. 1t is probable that under
the spur of the present panic, such experiments
may be more vigorously and inteieentlv
pushed than any similar ones have heretofore
| been, but it remains TO be seen whether
they will end more advantageousy. We are
strongly inclined to think that the results will not
compensate for the outlay. We do not doubt that
cotton can be grown in many parts of the world,
but we do doubt the feasibility of obtaining
supply from the labor Of the half.savaga tribes re-
erred to, or that of the whites who mag establish
isolated colonies in the cotton districts. AT all
events, it will be very many years before, under
the proposed SYSTEM the wild lands of Asia Or
Africa can be made productive, and for some time
to come the Gulf States can confidently rely upon
being able to defy the competition Of the world.
Their next few crops England must have, at any
price and this fact affords them well-grounded
assurance that they viii neither be blockaded nor
starved, at least for year Or two to come.