COTTON. 



229 



Europe, there should be added to my estimate 

 of consumption 208,000 bales." 



The most noticeable facts in the history of 

 cotton, in the English market during the last 

 year, have been the high price in the -raw ma- 

 terial, and the absence of prosperity among 

 manufacturers. During the year the price of 

 cotton at Manchester ranged upward of 23 per 

 cent, higher than in 1871, and 81 per cent, 

 higher than what is popularly knoSvn as its 

 " normal " price, viz., 6d. per pound for mid- 

 dling Orleans. The prices per lb., in pence at 

 Liverpool, were: 



A prominent cause for the absence of pros- 

 perity in the trade is, that many important 

 markets were very liberally supplied with cot- 

 ton-goods during 1871. 'The comparatively 

 low price of cotton then prevailing, and the 

 check given by the Franco-German war to 

 manufactures on the Continent, tended to im- 

 prove the position of English spinners and 

 manufacturers, not only by withdrawing com- 

 petition for the then abundant supply of the 

 raw material, but also by yielding to them a 

 freer command of the markets for goods. This 

 improved position had its natural fruit in an 

 extension of manufacturing power, induced by 

 the prosperous condition of the trade, and 

 aided ,by low prices and machinery. But the 

 expansive force exceeded its due limit. The 

 change adversely to the interests of manufac- 

 turers and spinners began about the middle 

 of the year. The markets of the East were 

 over-supplied, which, with other causes, occa- 

 sioned great losses, glutted markets, and a sud- 

 den fall in prices at Manchester. At the same 

 time the cost of making cotton yarn and goods 

 was greatly enhanced by the advance in iron, 

 coal, and other supplies, and in wages. 



To afford a comparison of this most impor- 

 tant industry, with its condition prior to the 

 war, the following totals for the United States 

 are given : 



A comparison of the figures of 1870 with 

 those of 1860 presents several notable circum- 

 stances, chief among which is a falling off in 

 the number of establishments in 1870 of about 

 12| per cent. This may be attributed to the 

 natural tendency of industries of this nature 

 to concentrate in great establishments; and 



also to the fact that at the beginning of the 

 war many cotton-factories were transformed 

 into woollen-mills. This view is strengthened 

 by the fact that the number of looms was 24 

 per cent., and the number of spindles more 

 than 28 per cent., greater iq 1870 than in 1860. 

 The increase in the amount of capital employed 

 was about 30 per cent., which has been attrib- 

 uted to the increased value of land, buildings, 

 and machinery, while the increase in the amount 

 of wages paid amounted to nearly 43 per cent. 

 In 1870, as compared with 1860, there was a 

 decrease in the quantity of raw cotton con- 

 sumed amounting to 24,402,718 pounds, or 

 nearly six per cent., while there was an in- 

 crease in the value amounting, for all materials, 

 to $54,451,402, or more than 94 per cent. The 

 increase in the total cost of labor and raw- 

 materials amounted to $69,557,296, or about 85 

 per cent. The value of the goods produced in 

 1870 was $61,807,965, or 53 per cent, greater 

 than in 1860. Although direct comparison 

 cannot be made between the quantities pro- 

 duced in 1870 and 1860, owing to the paucity 

 of the details in the returns of the latter year, 

 it will appear, however, from the following 

 statement, that, in 1870, a greater quantity of 

 goods was produced from a smaller amount 

 of raw material, which is explained by the 

 average lighter weight of the fabrics produced : 



In 1870, 13,341 more hands were employed 

 to manufacture into goods 24,400,000 pounds 

 less cotton than in 1860. The average annual 

 wages was $288 per capita in 1870, and $196 in 

 1860, showing an increase of $92 per head per 

 annum, or 47 per cent. In 1870 the value of 

 the product per head of operatives was $1,341, 

 and in 1860 $948, showing an increase in 

 value of the per capita production of $363, or 

 38 per cent. With this gain of 38| per cent, 

 in the value of the product of each hand, the 

 average hand gets 47 per cent, more wages. 



The Indian crop of cotton for the year 

 1872-'73 has been estimated at 1,700,000 bales, 

 or 339,000 bales less than the crop of 1871-'72 ; 

 and that of Egypt 353,000 bales, as against 

 316,000 in 1871-'72; while, from Brazil and 

 the small producing countries, a supply equal 

 to that of 1871-'72, 1,325,000 bales, is expected. 



The crop of the United States for the season 

 of 1872-'73 has been estimated by the Bureau 

 of Agriculture as follows : Total number of 

 acres, 8,482,905 ; number of pounds of fibre, 

 1,600,816,316; number of bales of 465 pounds 

 each, 3,442,612. 



Through the courtesy of General Francis A. 

 "Walker, Superintendent of the Census, the fol- 

 lowing special statistics of cotton manufactures 

 in the United States are given from advance 

 sheets of the census of 1870: 



