1000 



COTTON TRADE 



we find the consumption of British cotton manufactures in Kussia increased from Jrf. 

 per head in 1851 to Ifat. in 1861, and l%d. in 1871. In Sweden and Norway the con- 

 sumption increased from 4fd. in 1851 to over 13d. in 1871. Germany advanced from 

 2s. 9Jd. to 5s. 2Jd. per head. Belgium stood at rather less than ll;}f/. per head in 1851, 

 and about the same in 1861, but in 1871 the figures rose to 2s. 5|rf., owing in a great 

 measure to the diversion of trade occasioned by the war. In 1851 France did not use 

 more English cotton manufactures than was equal to about Id. per head of her entire 

 population; in 1861 the figures rose to 4Jrf., but in 1871, thanks to the Commercial 

 Treaty, the consumption reached Is. 2d. per head. Spain, including Gibraltar, con- 

 sumed 7d. per capita in 1851, 9<Z. in 1861, and 13fd. in 1871. Portugal took 3s. 7fd. 

 per head in 1851, 4s. 9$d. in 1861, but only 4s. 2\d. in 1871. In Italy the consump- 

 tion increased from about Is. 8d. per head in 1851 to 2s. 3d. in 1861, but fell to Is. IQd. 

 in 1871. Turkey in Europe took 2s. 2$d. per head in 1851, and 4s. 3$d. in 1871 ; Turkey 

 in Asia figures for about 5d. in 1851, but 205 d, in 1871, owing to extended commerce 

 with the interior. The trade with China is still very small per capita, but the increase 

 during the past 20 years has been from Id. per head to nearly 4d. With India the 

 increase has been from T$d. to 16f<Z. Japan took nothing in 1851, but in 1871 her 

 consumption reached more than Id. per head. It is with these Eastern countries that 

 the greatest expansion of trade is to be expected in the future. The whole of Africa 

 consumed about 2\d. per head in 1851, and Id. in 1871. Turning to America, there 

 is an apparent decrease in the consumption of Canada, the figures being 5s. 8|d. in 

 1851, but only 4s. lOfd. in 1871, but part of the increased shipments to the United 

 States passed through Canada ; and it is this transit trade that partly accounts for the 

 United States' figures rising from Is. 8%d. per head in 1851, to 2s. 8$d. in 1871. The 

 West Indies do not show much increase ; in some instances there is a decrease. Mexico 

 advanced from 7$d. per head in 1851 to I6^d. in 1871. In South America the consump- 

 tion of Brazil only rose from 5s. 9d. to 6s. 2%d. per head, but Paraguay, &c., increased 

 from Is. 5{d. to 6s. IQ%d. Chili, Peru, &c., remained almost stationary. Part of these 

 discrepancies, however, are owing to the changes which have occurred in the course of 

 trade. Taking the whole of South America the figures show an average consumption 

 of 4s. 5$d. per head in 1851, and 5s. 9d. in 1871. A recapitulation of the figures for 

 the world is as follows : 



Consumption of Cotton Products per Head. 



Eespecting the business results of the year 1872, Messrs. Ellison and Co. say that 

 ' from every point of view regarding the interests of the cotton trade the past year lias 

 formed quite a contrast to its immediate predecessor. 1871 was a year of unexampled 

 prosperity to everyone in the industry, whether as importers, exporters, or consumers ; 

 but 1872 has been a year of constant anxiety, disappointment, and general unprofit- 

 ableness.' The table given on the last page of Messrs. Ellison and Co.'s report shows 

 how unprofitable the business of the year was to consumers : ' The balance left for 

 wages, other expenses, interest of capital, and profits was 54,216,000/. or Ityd. per Ib. 

 on the cotton consumed, against 61,147,000^. or 13fd., in 1871. This loss of l\d. 

 per Ib. (nearly 7,000, 000.), was entirely borne by the millowners, for there was no 

 reduction in the rate of wages. Moreover, there was an important additional item of 

 expense in the shape of a serious advance in the price of coal. Altogether the year 

 has been the most unsatisfactory one since 1869, during which some scores of failures 

 occurred in the manufacturing districts, but the profits realised in 1871 saved Lanca- 

 shire from bankruptcy during the past 12 months.' 



1 Importers of the raw material,' say Messrs. Ellison and Co., ' have also had a 

 harassing time of it. They made some money in the early part of the year, but they 

 have lost since, and the net result has been the reverse of gratifying. To importers 

 of East-Indian cotton the year has been one of unmixed disappointment, owing to the 

 tenacity with which consumers, notwithstanding the high range of prices, have clung 

 to American and long-stapled cotton. The explanation is, first, that the demand has 

 been chiefly for the better grades and finer numbers of yarn ; secondly, that the 

 " hands" have persistently refused to work Surats ; and thirdly, thfit the quality of 

 the East-Indian crop was exceptionally poor. 



