The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-08-18
TIE COTTON SUPPLY.
Review by tho London Time.

The London Times, Of the 14th instant, has
aa editorial on the subject OF the cotton supply,
which was transmitted by cable on Saturday,
wherein it ssys:
A curious aspect has just been given to the
question OF the cotton supply. just % the as
soclation for promoting this object is holding
its usual meeting, o merchant writes us that
Manchester alone is responsi6le tor the scarel-
ty it suffers. With all its wealth, enterprise
Pd hs Hsa ma 0a
side world obviously is, that those who know
most about cotton-plAnting can never pay.
Their caution acts in others, and cotton cul-
ture is discouraged. II the Manchester epin-
ners would establish cotton company, with
large capital employed in the heart Of India,
things would be different; but they stand aloof
and refuse to risk their money in adventure,
and when cotton comes to them they drive 1t
down to o losing point.
The association urge the establishment OF
large cotton fields in Ethiopia, but the recon-
mendation, though interesting to growers, % ma mas
Golden and his friends maintained it was
not the duty OF the manufacturer to concern
himself with the South, but merely to off5r
sure and steady market for the produce. Ii
India undersold America 5y farthing IN me
pound on equal quality, she would command
the Lancashire market. The true policy OF the
manufacturer Was to keep the market open
and give preference to tho best cottons.
How these doctrines ended We need not say,
but the singular complaint OF our correspon-
dent lends illustration to argument. he re-
sents the practice OF the manufacturer in
driving down the price. 1t is not natural Tor
the buyer to cheaper the article. Does not
the remark strengthen the argument that the
same people ought not to be ouyers ana 9oder sc.
cotton, formerly bringing four pence per
pound now brings ten pence and it may be
many wears before 1t is lower than seven ponce.
IF this means that sevcn ponce would remunef-
ate and satisfy Lancashire. the mighty ques-
ton may be near Its solution. kemem1eling
that the cardinal question /; price, and that
cotton stuffs can be sold to the markots of the
world. aud t3at the money to recompense the
Grover aud spinner comes from the pockets
OF the weaver, it is useless to grow and spin II
il cannot be sold IN quantity and at price to
remunerate ull concerned.
Up to the tim, OF the American war these
conditions were fulfilled. The South produc
ed and Lancashire manufactured 80 cheaply
that the article commando the markets OF
the world. The price OF Iudia cotton is now two
and.a-half times greater thsi formerly: which
ia enoueh to demolish the whole trade. No
wonder that loom. are idle. Cheap goods and
dear cotton are incompatible. Until cheap
goods are produced trade cannon revive. Ii
the average Of seven pence pays the grower,
there is no reason why industry should not re-
vive. A protective tariff will Lot always pre-
vaile.
II the prices spoken Of will satisfy consum-
ers and remunerate producers. there is nothing
to prevent the speedy revival OF tLa production
and the grower must necessarily exist ordinary
commercial antagonism. Cotton rs now at ten
pence instead OF four pence, because Amerl-
can co npetltlon is reduced. The price can
only be abated BY return TO largo ana more
regular supplies. II India be our feeder it can
only be on terms of free and open trade. Cot.
ton.growers must be pre- pared for revi ;al of
Am rlcan industry and the competition of til e
whole world. In such a race India would have
great advantages, Which, II measured by the
bable that Indian agriculture and British in
dustry mis- lit be established on broad and per-
manent prosperity.