APPENDIX. 227 



no consideration is given to what sort of goods make a given 

 value of exports, and in what quantities Mr. Giffen's state- 

 ment may be accepted. But that is all. 



If we take, however, Mr. Giffen's figures as they are re- 

 produced in extended tables (on pp. 461-467 of the just 

 quoted paper), tabulated with great pains in order to show 

 that Germany's part in the imports to several European 

 countries, such as Russia, Italy, Servia, etc., has declined, 

 as well as the part of the United Kingdom, all we can 

 conclude from these figures is, that there are other countries 

 besides Germany, namely, the United States and Belgium, 

 which compete very effectively with England, France, and 

 Germany for supplying what manufactured goods are still 

 taken by Russia, Italy, Servia, etc., from abroad. 



At the same time such figures give no idea of the fact 

 that where manufactured metal goods were formerly supplied, 

 coal and raw metals are imported now, for the home manu- 

 facture of those same goods; or, where dyed and printed 

 cottons were imported, only yarn is now required. The whole 

 subject is infinitely more complicated than it appears in Mr. 

 Giffen's calculations ; and, valuable as his figures may have 

 been for appeasing exaggerated fears, they contain no answer 

 whatever to the many economic questions involved in the 

 matters treated by Mr. Giffen. 



H. COTTON MANUFACTURE IN INDIA. 



The views taken in the text about the industrial develop- 

 ment of India have been confirmed by a mass of evidence. 

 One of them, coming from authorised quarters, deserves 

 special attention. In an article on the progress of the Indian 

 cotton manufacture, the Textile Recorder (i5th October, 1888) 

 wrote : 



" No person connected with the cotton industry can be 

 ignorant of the rapid progress of the cotton manufacture in 

 India. Statistics of all kinds have recently been brought 

 before the public, showing the increase of production in the 

 country ; still it does not seem to be clearly understood that 

 this increasing output of cotton goods must seriously lower 



