The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1905-10-25
THE DEMAND FOR COTTON.
Many Million New Spindles in Man
chester, England.

ing the year 30 new cotton mills nave
been built in Lancashire representing
4,775, 900 spindles, or nearly one-hai1
the whole spindle equipment Of the
South, that mills idle for many years
have been re-equipped, that others
have been remodeled, and that other
mills still in course Of construction
will soon come into operation. The
correspondent says:
Supply cannot, in fact, overtake
demand, notwithstanding the high
high pressure at which the mills are
months, and even two years ahead in
orders. The BOOM therefore, is not
of the type which expanding bladder
like, speedily reaches it's limit and
bursts. The end Of the war, besides
reopening markets which were prac-
tically closed, will give a long impetus
to cotton to repair waste as we'll as
to build up foreign stocks.
"Now that peace has been declared,
there is general expectation that jap
an will emphasize her progressive
tendencies by making prompt head
way as commercial and maritime
nation. Korea she will certainly take
in hand, and it is thought that China
also will receive Western observers
who look forward to the economic
developments with a certain anxiety,
fearing that the increasing activity Of
Japan in the markets of the Far East
may prejudicially affect the trade of
Great Britain, the United States and
other countries. The suggestion ap-
pears to be that Japan will not only
make serious inroads into our trade
with neutral markets, but will supply
herself with those things which she
was hitherto imported and want moth
ing from US Of course, such fears
are quite illusory We may rest as
sured the more Japan develops her
export trade and her sea-carrying
trade the more must she import in
order to recoup herself. That which
she does not import from us she will
import from our actual or potential
customers, thereby presenting the eX-
change OF commodities throughout
the world, from which the profits of
trade are derived. No country has
Travelled so far along that road of
economic development upon which
Japan is now setting as has England
and the end of it is that England to-
day buys far more from the rest OF
the world than ever before. and not
merely of raw materials, but also Of
manufactures. Even those markets
which England has opened up for
herself have become markets for 9th
er countries also. In proof of all
which our own protectionists have
abundant statistics. If. then.
England's industrial and commercial
Development has benefited the world
and e,giched the traders of other ma
tons, why should the development of
Japan 90 otherwise?
"If Japan should succeed in pro-
ducing an economic renaissance IN
China similar to that which she her
self has already experienced she will
perform an estimabie service to all
the trading and industrial people of
the western world. TIE western ma
tions have not been very successful
in stimulating the hundreds Of mil
lions of Cinnamon to desire things
which they cannot produce them
selves, and until such demand IS
created and the people Of China are
educated to want what they have
hitherto been content to lack that
great field for commercial enterprise
will continue to lie almost entirely
fallow. But before the japanese can
make very much headway among the
substantial traders in China they will
have to learn that a reputation for
dealings is of the
first Importance. It is curious fact
that whilst the official japanese
seems to be the soul of honor, the
commercial japanese is not credited
with being scrupulous overmuch, in
China, indeed, he has the opposite
reputation. This is no doubt result
Of the traditional social prejudice
against trade in Japan, which until
quite recently made it impossible for
the better class of the people to en-
gage in commerce without losing
caste''