260 



COTTON. 



The amount of cotton consumed in the Uni- 

 .ted States for the year ending September 1, 

 1867, was 649,831 bales, of which 579,831, or 

 about 11,000 bales per week, were used in the 

 Northern States. In 1865-'66, 667,292 bales 

 were consumed in the United States. In the 

 year 1860 both the exportation and the home 

 consumption were greater than during any 

 other year in our history, the former being 

 3,774,173 bales ; and the latter 972,043 bales. 



The prices of cotton in the markets of New 

 York and Liverpool for the last year i. e., the 

 cotton crop year ending with September 1, have 

 been as follows : 



In 1865-'6, the maximum reacheil 59c. in 

 New York and 24-J- pence in Liverpool ; the 

 lowest price in New York was 31c., in Liver- 

 pool 12 pence. These prices apply to the quality 

 of cotton known as middling upland. 



During the interruption of the supply of 

 cotton from the United States, occasioned by 

 the late civil war, vigorous efforts were made 

 by those interested in manufactures in foreign 

 countries to develop the resources of other 

 quarters of the globe where this staple was pro- 

 duced. Operations on an extensive scale have 

 been carried on by the British Cotton Supply 

 Association of Manchester, with the view of in- 

 creasing the production of cotton in the south- 

 ern districts of Asia and Europe, the northern 

 districts of Africa, and in " South America, 

 and the West Indies. This association has 

 circulated an address on the subject of cot- 

 ton production, in the various countries where 

 that article is or may be grown to advan- 

 tage; and the more effectually to stimulate 

 the efforts of the people in this direction, has 

 sent amongst them large quantities of cot- 

 ton seed and the necessary implements for 

 cleaning the staple when grown. 3,209 c\vt. 

 of seed was distributed during the last year to 

 Turkey, Southern Spain, Italy, Greece, Egypt, 

 various parts of India, Philippine Islands, 

 Cape of Good Hope, West Coast of Africa, the 

 West India Islands, and different countries of 

 South America. The labors of this association 

 were begun ten years ago, and the result at 

 this time is very strikingly exhibited in the 

 following brief table, showing the sources of 

 the receipts at Liverpool for forty-seven \veeks, 

 ending November 25, 186f : 



Bales. 



Imports from the United States 1,117,026 



" " Brazil 378,003 



" " Egypt 159,066 



" " West Indies, etc 100,053 



" " East Indies 1,155,425 



The largest amount of cotton consumed in 

 Europe in anyone year, was consumed in 1860, 

 when the United States furnished eighty-five 

 per cent, of the whole supply; in 1866 less than 

 forty per cent, of the supply to Europe was pro- 

 duced in the United States. It will be seen by 

 the above table that India alone furnished 

 more cotton to the market of Liverpool, during 

 the past year, than was obtained from the 

 United States. The immense system of in- 

 ternal improvements inaugurated in British In- 

 dia in 1860-'61, under the direction of Marquis 

 Dalhousie, the Governor-General, has done 

 much to develop the resources of that coun- 

 try. Since that time a vast system of rail- 

 roads have been put in progress, and the Ea?t 

 Indian Eailroad Company have now under 

 their management 1,310 miles of railway, and 

 in the course of the year 1868 an unbroken 

 line will connect Calcutta and Bombay, with 

 branches running into the adjacent region in 

 every direction. This will be of great import- 

 ance to the cotton interest in that quarter, as 

 want of ready and cheap transportation has 

 been the chM obstacle in the way of an al- 

 most unlimited production of that great staple 

 in the British dominions in India. The soil is 

 well adapted to its cultivation, and the cheap- 

 ness of native labor will be highly advanta- 

 geous. 



As has been already stated, the production 

 of cotton in the United States labors under tlio 

 disadvantage of a heavy internal revenue tax. 

 An act of Congress of July 13, 1866, imposed a 

 tax of three cents a pound on the raw cotton, 

 which was reduced to two and a half cents a 

 pound after September 1, 1867. The total 

 amount of revenue derived from this source 

 during the fiscal year ending June 30, 1867, 

 was $23,769,078.80. For the purpose of duly 

 collecting this tax, all cotton is weighed and 

 marked by the revenue officers of the United 

 States for the district in which the cotton is 

 raised, and can be removed thence before pay- 

 ment of the tax only by a permit from the as- 

 sessor, and on consignment under a bill of lad- 

 ing to the assessor of the district into which it 

 is shipped. The assessor to whom it is con- 

 signed holds the cotton until the tax is paid, if 

 such payment is made within ninety days. If 

 payment is delayed beyond ninety days, the 

 tax is to be collected by distraint and sale of 

 the cotton. ^The penalty for the infringement 

 or evasion of this law is a fine of $100 for each 

 bale of cotton shipped or attempted to be 

 shipped in violation of its provisions, or im- 

 prisonment not exceeding one year, or both ; 

 and the cotton may be forfeited to the United 

 States. Considerable agitation has been made 

 for the repeal of this tax, and the subject oc- 

 cupies the attention of Congress at this time. 



A committee to whom the subject of the 

 future supply of cotton was referred by the 

 American commissioners to the Paris Exposi- 

 tion, gave, in their report, the following as the 

 conclusions at which they had arrived after a 



