The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1869-06-17
Cotton.

Cotton.
cit is the insufficient supply, or the
higher price of American cotton, that has
driven our manufacturers upon the short
stapled native article of India, commonly
called Surat. If the price of the TIVE
were equal, scarcely bag Of Surat would
be employed. When the price of Ameri-
can cotton rises, owing to an inadequate
supply, that of East India cotton follows
it at considerable interval-the usual
ratio being two to three-and the import
Of the latter is greatly stimulated. Our
|desideratum is net amply more cotton,
but more cotton of the same character
and price as that now imported from che
States If India were to send us two
million bales of Surat cotton per annum
the desideratum would not be supplied.
We should be almost as dependent on
America as ever."-London Society Of Arts,
1859.
Among our varied industries, there
were none that suffered more in conse-
quence of the war of Rebellion than the
cotton interest, because that is the most
scutely sensitiTs to extraordinary infu-
ences.
When. the British people found that the
United States stood in fair way OF hold
ing the monopoly Of the worlds cotton
markets, they looked about them for new
sources of supply. Their wish was to
obtain cheaper and if possible better
article, and at the same time keep the
source of supply, and consequently the
price, in their own hands. India seemed
to be their promised land. AS long ago
Jas 1S41 the receipts from this single
source, under the influences then at work
lin Great Britain, reached considerably
over 109,0oo,OoO pounds. sa
During period of twenty years, or
until the breaking out of the rebellion in
this country, the experimental projects
of increasing its production, improving its
character, and comparing it with other
|fibres, had free scope and the practical
test Of woven fabrics. In 1857 the cotton
of India imported into Great Britain had
increased to 25O,0OO,OoO pounds, and the
receipts &rom other sources, outside of the
United saStes, wers 100000. These
ccntributieinWere very material, but did
not afford the hoped-for relief; for they
discovered that as the receipts of cotton
from India increased, the demand for
cotton goods in India increased to such
an extent that the supply was entirely
neutralized. The same was true of Egypt
and South America. The United States
was the only source of supply that fur
nished more cotton than was used at
home, In the shape Of manufactured
goods. Upon US, therefore, England still
had to rely TO make up the deficiency.
The question Of cotton in England was
put to an unexpectedly severe test by the
Southern rebellion. Had the rebellion
been Instituted expressly for the purpose
of dethroning King Cotton, the result
could not have been rendered more Ger
tain or complete. With the American
supply cut of, the "cotton famine" as q
consequence, resulted INF England. The
supply from other sources could not re-
lieve the distress. India Surat was use
less except for the coarssst fabrics and
as substitute for American cotton proved
a total failure. The demand for Ameri-
can cotton was unprecedented it must
be alleviated at any price and at every
risk. Under this demand prices went up.
In 1860 the price was lie. per pound, but
rose with unprecedented rapidity to
$1.s5@$2 for superior lots, the latter
being the maximum during the war.
Following the well known laws of com
merce, the India staple increased both in
quantity and price, and large quantities
were imported into the United States, to
take the place of our finer staples ex-
ported to supply foreign demand for
goods which could not be fabricated from
Surats.
At the close of the war Southerners
were able to ship what they had been able
to preserve from the confscations of both
parties, selling at 4O@45c. Owing to the
ports Of the South having been closed so
long, the country was bare Of cotton
goods, and the demand was very great.
The North could not supply the demand,
and large orders were sent to England.
Under this impulse the market again ad-
vanced, and. in 1885 raw cotton sold at
6O@65c. but when orders from this side