The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1866-05-17
Tho Cotton supply from India--Fails
-. --...a. -. infx Aesources.

chester Chamber of Commerce, the
consideration of the prospects of cot
ton supplies from India was discuss
ed. Complaints were made, of the
apathy of the Government respecting
India, and the opinion prevailed that
all that was necessary to obtain q
large supply, was to develop the canal
and railroad communications in that
country. Mr.. Bagley, Member Of
Parliament, said:
Since the termination of the war in
America, they had acquired some
thing Of the former degree of the acti
witty that once pervaded the manufac-
turing districts. Still, much remained
to be done. In 1860, the couslmp-
ton of cotton in the United King
dom amounted to $500, 900 bags dur
ing the year; at the period of the
greatest distress-namely, 1S62-the
consumption had diminished to
1000, 600 bags, and last year it had
gone up to 100000.
During this period there had been
very important additions made to the
means of consuming cotton, not only
by the spirited determination of spin-
ners to repair their old machinery
and prepare for better time, but by
the. spirit of capitalists who had in
vested new capital in new works, the
result being that there was at the pre-
sent moment the power to consume
much larger quantities of cotton than
hsd been known at any. other period;
and he apprehended not less than
5000, 900 bags would be required to
| supply the trade of the whole king
dom. when cotton could be had in
plenty, and at the same time at such
cheap prices as ruled previous to the
convulsion Of 1860. 1t had been
stated that the exports to America
with the revived trade had been so
large that our public finances were
likely to be seriously Inconvenience.
He differed altogether from such an
estimate
The time, he feared, was coming,
when distress would be brought upon
India, because it would be more to
the interests of the people of this
country to obtain cotton from Ameri-
Co than from India. G1OO, 900. 600
sterling already paid was ample com
pensation for what we had received,
and we had no occasion to trouble
ourselves with consequences as to
what might accrue to India, although
it would be much to be deplored if
India did not keep up in the race Of
competition. Unless something could
be done in the administrative reform
in India, there could be no improve
| ment in the cultivation of cotton.
Something must be done to eman-
cipate the agricultural industry of
India from the thraldom of officials.
India possessed ample means for re-
pealing her custom duties. The
whole revenue of India is about .f45,-
100000 sterling gross; the net amount
was, perhaps, from E35, 900, 900 to
f3S, ,0OO, 600 sterling. The expenses
of collection amounted to GS, 600, 600,
and he submitted that this sum, de-
Quoted from the gross revenue, was
sum altogether unnecessary, and it
would be possible to save as much
as 1000, 900 sterling out of the ex
penses of collection. At all events,
the manufacture Of cotton yarns con-
tributed to the revenue of India about
96OO,OO sterling, that could be easily
abolished; and as the cotton trade
has given India something like ESQ.,
600, 900, q benefit would arise to India,
if cotton goods were wholly exempted
from duties.
1t was to be hoped, therefore, an
effort would be made to repeal the
duties upon cotton manufacturers.
If there was large trade rapidly
rising in India, where spinning and
manufacturing were being conducted,
a protection would arise to those ma
nufacturers if something did not alter
thepresent condition of things. The
whole official revenue of India re-
quired to be fully examined and econ
omized. Only G29,0O0,OO0 sterling
was required for the real expenditures
of the country, and to collect S15,-
600, 600 sterling appeared to leave n
margin that gave great scope for
financial reforms
Reproductive works of any kind,
which would greatly contribute to
the revenue of India, has made but
little progress. True, E5O,O0O, 900
sterling had been expended in about
5000 miles Of railway in India, but
in America there was 10000 miles.
Water for inland navigation and irri-
cation was, no doubt, the great wealth