Abbeville press. [volume] (Abbeville, S.C.) 1860-1869, 1869-08-27
THE COTTON SUPPLY,
Review by the London Times.

Tho London Times, of the 18th in.
slant, has an editorial on the subject
Of the cotton supply, which was
transmitted by cable on Saturday
wherein it says:
A curious aspect has just been giv-
cn to the question OF the cotton sup
ply. Just as tho association for pro
noting this object is holding its usu-
al meeting, a merchant writes us
that Manchester alone is responsible
for the scarcity it suffers. With all
its wealth, enterprise and confidence,
it has never invested g penny in the
cotton fcld. Tho conclusion Of the
outside world obviously is, that those
who know most about cotton-plant
ing can never pay. Their caution
acts in others, and cotton culture is
discouraged. If the Manchester spin
ncrs would establish cotton comma
ny, with a largo capital employed in
the heart of India, things would be
different but they stand aloof and
refuse to risk their money in advcn-
turc, and when cotton comes to them
they drive it down to losing point.
The association urge the establish
mcnt Of large cotton fields in Ethio-
pia, but the recommendation, though
interesting to growers, has little CT
feet to cause more cotton to be grown.
Golden and his friends maintained it
was not the duty the OF manufacturer
to concern himself with the South,
but merely TO offer sure and steady
market for the produce. If India un-
dersold America by farthing in the
pound on equal quality, shc would
command tho Lancashire market.
Tho policy Of the manufacturer was
to keep the market open and give
preference to the best cottons.
How these doctrines ended we need
not say, but the singular complaint of
our correspondent lends illustration
to argument. lie rescnts the prac-
ticc Of the manufacture in driving
down tho price. 1t is not natural for
the buyer to cheaper the article.
Does not the remark strengthen the
argument that tho same people ought
not to be buyers and sellers? His
figure state that the average India
cotton, formerly bringing four pence
per pound, now brings ten pence, and
may be many years before it is lower
than seven pence would rcmuncrate
and satisfy Lancashire, tho mighty
question may be near its solution. Re-
membering that the cardinal question
is price, and cotton stuffs can be sold
to tho markets of the world, and that
tho money to rccompenso the grower
and spinner comes from tho pockets
of the weaver, it is useless to grow
and spin if it cannot be sold in quani-
ty and at price to remunerate all con-
cerncd.
Up to tho time of tho American
war these conditions were fulfilled.
The South produced and Lancashire
manufactured SO cheaply that the ar-
ticle commanded the markets of the
world. The price Of India cotton is
now two and-a-half times greater than
formerly, which is enough to demol.
ish the whole trade. No wonder that
looms are idle. Cheap goods and
dear cotton arc incompatible. Until
choap ap goods arc produced trade can
not revive. If the average of seven
pence pays the grower, there is no
reason why industry should not ro-
yse. A protective tariff viii not al.
ways prevails. =.
II the prices spoken of will satisfy
eonsumsers and remunerate pro.
dacers there is nothing to prevent