, 1861-06-08
Tho Cotton Queatfon-1r. Golden te
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Tho Cotton Queation-mr. Cobden to
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we find In the Paris 1Gonitehr the following
article, which has been rcpubllshed In all the
continental newspapers. It Is addressed to
the Afontseur from one Of It's "private cores
pondents," !" that is to say, from the French
Consul in London, or Liverpool, or Manches-
ter:
The English Cabinet and the cotton manu-
factu1ers are at this moment profoundly nm
easy in consequence Of the alarming news
lecently tran mftted by the last steamships
from America Tha minor firms, who ore not
very solid, begin to suspend their business
operations In, consequence Of the constant
rise which Is going on in cotton, and which is
not accompanied BY q proportional elevation
consequence, too, Of the conviction which Ia
generally entertained, that no more important
caTgoes are to be expected from the United
States. A d1mfnntion Of working hours, per-
haps by one hall, is about to take place
throughout the cotton manufacturing dis
triets Of the United Kingdom. =.
Ihe nation, as well os the ministers and cot
ton manufacturers, have consequently good
ground OF reason to feel alarmed at the danger
which menaces the salaries necessary to the
subsistence Of several million Englieh work
men. The English cotton manufacturers an.
nually consume something like 2,25o, 900 bales
It is reckoned there now exists 15oo 600
bales Of cotton In the English warehouses. Il
the whole Of this stock could be used In Eng
land, IT would be something like sufficient to
supply its Its cotton factories for nine months.
The rest Of Europe, however, attempt to &C.
cure large supply Of cotton for their facto-
ries, and England is the market where they
purchase this supply.
Furthermore, The qualities sought by manu-
factuIeTs differ, and there are some qualities
which it is probable England does not possess
In sufficient quantities to enable its mills to
run for nine months. It follows from all these
reasons that unless an additional supply OF
cotton comes In from the United States, the
ming Of the cotton mills cannot be attained.
In view Of this condition Of the cotton mar.
ket, It Is said Lord Lyons will appeal to the
Cab;net Of Washington to attempt to avert
the disasters with which Europe would be
afflicted were the government Of the United
It is well known that this subject gives Lord
john Russell great anxiety. Fortunately for
Europe, the question Of 8 supply Of this ra1
material fs avery grave question for the cot
ton mills in the northern United States. It l.
well known that Notwithstanding the foresight
the Northern American. manufacturers may
have been able to exercise touching the pred
f. Nt*8A1t sA%y A0AA IL q FVAy 4A%I44
siderable stock kinproportion to It's average con
sumption less than the English stock OF cotton
in proportion to the English average Of con
sumption. The general balance of the market
at present is rs follows: The South holds {
large portion Of last years cotton crop, and j:
anzions to Eell;it. Europe, and especially
England, is anxious to buy 1t.
The cotton manufacturers Of the Northern
United States share the same anxiety to pnr
chase. The impeachment or impossibilitJ
which intervenes between sellers and buyert
arises from the blockade Of the ports from
which cotton is exported. which blockade Mr
Lincoln has Ordained Therefore, so long q.
this blockade shall not be really effective, Eu
rope will probably not recognize 1t, for 1t ds
| priEes them of raW msterfal which Is neces
sa5y to their manufactures, and upon whicl
| depends the daily bread Of millions Of tuei
inhabitants. The perplexity in which the i'm
| pcrtant and powerful cotton manufacturer
are now plunged, cannot fail to prompt then
to hold meetings aud take measures In com
mon. t is probable an eminent English states
man (Mr. Cobden} may soon embark for tn
United States to persuade both parties t
pfAce.