The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-08-15
The Cotton supply.

The COttOn supply.
The Times to-day has an editorial article on the
subject of the cotton supply, wherein it says
curious aspect has just been given 10 the gues-
zion OF the cotton supply Just as the association
for promoting this object is holding It's
ing that Manchester alone IS responsible
for the scarcity it suffers. With all its
wealth. enterprise and confidence, it has never
invested a penny III & cotton field. The conclusion
OF the outside world obviously is that those who
know the most about cotton convinced that cot
others, and cotton culture is discouraged. II the
Manchester cotton spinners would establish cotton
company with large capital, employ ed IN the heart
aoof, refuse to risk their money III the adventure
and when cotton comes to them drive 1t down to
losing pOlut.
The association urges the establishment OF vast
cotton held In EthiOpia but the recommendation,
though interesting to growers, has htie eliect to
cause more cotton to be grown. Mr.. Golden and
his friends maintained that II was not the duty OF
the manufacturer to concern himself with the
growth, but merely to offer a sure anu steady mar
kef Tor the product II india unders0d America by
arthing pound on equal quality sine would
pog OF the Was to Keen rue
the best corners. How these doctrines ended we
need not say: but 1t is singular that the complaint
OF our correspondent lends illustration TO the argu
ment He resents the practice OF the manufacturers
buyer to cheapen the ariicef Does not the remark
strengthen the argument that the salne people
ought not to be buyers and selersS HIS figures
ing four pence per pound now brings ten pence.
and 1t may be many years before 1t Is lower than
seven pence. IL this means that seven pence would
remunerate the planter and satisfy Lancashire q
mighty question may be near its solution. kemem-
berlng the cardinal question Is the price, cotton
etuhs can be sold to the markets OF the world, and
the money 10 recompensa the grower and SPINNER
comes from tile pocket OF the wearer IL Is useless
to grow and spin II It cannot De sold in quantity
and at Q price to remunerate all concerned. Up to
the time OF the American war the conditions we're
fulfilled. The South produced and Lancashire manu-
featured 80 cheaply that the article commanded the
markets OF the world The native spinner always
unders0id. The price Of Indian cotton Is now two
and Q half times greater than formerly, which Is
enough to denlolish the whole trade. No wonder the
looms are Idle Cheap goods and dear cOttOi in.
compatible. Until cheap goods are produced trade
cannot revive. II the average pence pays the
grower there Is no reason why industry should not
fevtvo. Protective tariffs will not always prevail.
N.tho price spoken Of will satisfy the consumers
and remunerate the producers, there Is nothing to
prevent the speedy revival OF production aud con.
0dnptt0n. But between the spinner and the grower
must necessarily exist the ordinary commercial
sutag0nism. Cotton Is now ten pence instead
or four pence because American competition
y reduced. The price can only be abated BY
the return 70 larger and more regular supplies. II
India be feeder, can only be on terms OF free
and open trade. Cotton growers must be prepared
for revival OF American industry and the c0mpeti.
SION Of the whole world. In such o race India would
have great advantages, which, II increased by the
judlct6uS action OF the government, It Is probable
that Indian agriculture and British industry might
be established IN broad and permanent prosperity.