The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-08-16

Golden and his friends maintained that it was
not the duty of the manufacturer to concern
himself with the growth, but merely to offer
a sure and steady market for the product. If
India undersold America by a farthing
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 the best comers.
How these doctrines ended we need not say,
but the singular complaint Of our correspondent
lends an illustration to the argument. He
rcsents the practice of the manufactures in
driving down prices.
'Isitnot natural for the buyer cheaper the
article! Does not his remark strengthen the
argument that the same people oughtnot tobe
buyers and sellers! His figures state that the
average of Indian cotton formerly bringing i'd.
per pound now brings l0d., and it may be
many years before it is lower than I'd. If this
means that I'd. would remunerate the planter
and satisfy Lancashire, the mighty question
may he near its solution. Remembering that
the cardinal question is price, cotton stuiis
can be sold to the market of the world. The
money to recompensc the grower and spinner
comes from the pocket Of the wcarcr. 1t is
useless to grow and spin if it cannot be sold in
quantity and at price to remuneratc all con-
cemed
Cup to the time of the American war these
conditions were fulfilled. The south produced,
and Lancashire manufactured 50 cheaply that
the article commanded the markets of the
world. The price Of Indian cotton is now two
and half times greater than formerly, which
is enough to demolish the whole trade. No
wonder that looms are idle. Cheap goods and
dear cotton are incompatible, and until cheap
goods are produced the trade cannot revive.
If an average of I'd. pays the grower, there
is no reason why the industry should not re-
vivc Protective tariffs will not always pre-
vail. If the price spoken Of will satisfy the
producers, there is nothing to prevent the
speedy revival Of production and consumption;
but between spinner and grower there must
necessarily exist the ordinary commercial an
tagonism. Cotton is now l0d. instead of 4d.,
because American competition is reduced, and
the price can only be ab9tod by a return to
| larger and more regular supplies. If India be
| our feeder, it can only be on terms Of free and
| open trade. Cotton-growers must be prepared
! for revival of American industry, and the
! competition Of the whole world. In such a
race India would have great advantages,
which, if increased by the iudicious action Of
| this government. it is probable that Indian
| agriculture and British industry might be es-
| tablished on broad and permanent prosperity"
LONDON, August l4.-Thc Post has an edi-
| torial to-day on the sale of Cuba to the United
States, wherein the writer says: "We enter
tain a shrcwd suspicion that the best thing
Spain can do is to close with America in re-
spect to Cuba She gains nothing by Cuba in
its present state but loses a sum she cannot
afford. She is not strong enough to stamp
out the insurectOn, but is obliged by false
sentiment of honor to continue an attempt
costly and unavailing. If she is able to restore
tranquility, a considerable time must elapsc
before she can reap the fruits Of success; and
probably before that result is attained the
| flames of rebellion will break out afresh.
! These considerations will have weight with
| the government, and, notwithstanding the de-
NAL Of rumored negotiations, we shall not be
| surprised to hear that the purchase and sale of
| Cuba has been effected"
| n.
the Harvard crew since they first appeared on
the Thames is generally admitted, but there is
| little betting so far.
| PARIS, August 15.-Dispatches from Madrid
contain reports of the discovery Of additional
Carlist plots for risings in various parts Of the
| country. A party of CarliSts in Valencia was
Yesterday defeated by the regular troops and
volunteers, and fifteen prisoners were taken.
| A fight also took place with a band of Carlists
under Vianova, and alcalde Rostal, adminis-
traitor of the civil guard. AT first the small
party of volunteers barely held their ground,
| but the arrival Of reinforcements enabled them
| to attack the rebels and put them to flight.
The second alcalde in Valencia revolted yes
terday, at the head Of twenty-four men, and
destroyed the telegraph wires running into the
place. There are great fears Of important
Carlist movements on the frontiers. In the
town of Patema shouts were raised by the
people of "Live the Repubic-death to the
monarchy!' The city of Madrid remains
tranquil.
PARIS, August Is, evening.-The Journal
| Onciel publishes decree in which the En-
peror, in commemoration of the one hundredth
birthday of Napoleon l, grants full and COM
plete amnesty to press and political offenders.
persons convicted of evasion Of taxes, de-
serters from the army and navy, and sailors in
the merchant marine who have abandoned
their ships.
The Emperor was not present at the cele-