The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1866-06-07
The Daily N News.
THURSDAY MORNING, JUNE 7. 1866.
The Cotton Tax.

Wo time ago had editorial In relation to the
taa ofve cents per pound cotton which had been
up before Congress at that time, though we spoke OF
the difficulties attending this tax, referred to the
general result OF it. pleased TO give tho follow
ing able statement from the New York Commercial and
Financial Chronicle. in which many of our views are
ndorsrd It will par,ic lary interesting to those of
people who view. philosophcaly, the natural ten
tienci 8 of potcil economy.
The article written the argument that
nothing has yet occurred to check the production OF
cotton IN Ipdis. Eg! pt, or Brazil:
Official hdv,ces have been received from the English
districts In India. which show that within year the
cultivation of cotton has been greatly diminished in
twenty cent and the crop in the still higher ratio
OF thirtyh per cont IN single year.
For the years ending April l, 1865 and 1866 the acres
In these districts devoted to cotton were:
In ~ acres
The cotton produced by the,e acres was
IN iSS5 Oi8i candies OF AIS lbs
India has doubtless been enriched by the silver intro
duced by high prices, but tho natives have advanced
their wages and very produce under the
above returns shows that the yield per acre is
onefourth the yield In our own country ranging from
forty to Afty pounds only. With rising wages
and such paltry return need fear tho competition Of
Inda2
As respects Egypt instead Of increase, the tabular
statements of the British commercial Journals show
that there has been decline Of neourth in the crop
last gathered compared with that of tho previous
year.
Gently Published reports that tho Valley Of the Mile
yields four crops maize annually from the same aed
But Egypt ovcrtaskcd itself in raising cotton
rebling the price Of labor and has thus been obliged
cotton.
The slight increase of 100 bales In Brazil this year.
due to the high prices OF last will not suffice to
of the slave trade has diminished labor in Brazil A
Held hand can produce more colee than cotton with
In ans yer to the argument that England has adapted
her mechanism Surat cotton it is said that she
Do G fI with e S Smere sa as s
jute or shoddy combination with wool but its relative
When New Orleans nlddling cotton commands as it
recently has, thirty cents Liverpool, the middlng
week ana o Of
staple and, when take into its inferior quality
and price, have little TO dread Its competition.
1t can be manufactured by cheap labor only.
The objections which nfers from the arrivals in Eng
Of 1866 great Success in the prodneton Of oooa. is
answered by the English Journalist they ascribe these
in 1855 by the of ish the
can iar and tue consequent decline Of prices, which
was not rroductou but accumulation mt Of @ that product
before and tho excess Of cotton this side beyond the
cent panic temporary decline in Liverpool. It Is
the coincidence of such with the delay In Easter
shipments which has caused the alarm.
The future price OF cotton depends not on Brazil,
Egypt India but on production pro-
England Egypt and Brazil have now more
tive crops: We can command our prices. unless we
paid two hundred millions iS200, ,O00 0O0 beyond her
average annual payments for cotton for half supply.
Britain has set in motion nearly all her spndles and
the world will require at good prices nearly three mil
Should ta1 be imposcd there is itte reason to fear
decline 10 tgenty cents pound and may be tpet argued
that ,ohte the tdr drdtys from foreigners millions
Treasury IL ou set in motion spndies at The South.
tend iseto sustain prices. Should it prore onerou
ii can DC rescinded.
The English expect this year less cotton from the
East Brazil. aud Egypt than they received last year
the East which broke down the price. The reaction
has begun. The whole increase in tho annual supply
cotton from Brazil and the East caused by tho
dearth actually less than the increase of production
In the United States in three preceding the
remain, yours, very sincerely.