28 A.GBIGUI/PDBAL AND COMMERCIAL 



Ireland, Belgium, Switzerland and Russia would produce 

 greater quantities of flax, and East India and Russia 

 would export more hemp and jute. 



The committee reports, " enough is shown by the facts 

 to establish an important point : that the extent of con- 

 sumption, up to this time, has been controlled by the 

 extent of production ; and we must, therefore, look to 

 other causes for the ruinous depression in price to which 

 we have so often submitted." It is true, that the con- 

 sumption will always be ruled by production ; it is a fact, 

 scarcely needing elucidation, produce less cotton and 

 there is less to be consumed, produce more and more will 

 be consumed.* The greater quantity produced the lower 

 the price, and the lower the price of cotton the more it 

 will be economical for wear instead of silk, woolen oi- 

 lmen. Limit the quantity, raise the price, and, as a 

 matter of economy, place it on a par with silks, woolens 

 and linens, and then cotton cloths would go out of use 

 in geometrical proportion as their price be raised com- 

 pared with the above. And, instead of cotton sheets, 

 towels, &c., we will have linen ones. Instead of muslin 

 dresses, there will be more silk ones, and more silk and 



*For instance, "the failure of the Anu-ru-an crop in year 1846, as 

 in the very last season (1850), caused a considerable rise in the price 

 of cotton ; and it was calculated that, in that year, an advance in price 

 of two pence per pound, required an increased payment by this coun- 

 try of 4,000,000 (120,000,000). In this year the increase in price 

 has caused many spinners and manufacturers of coarse yarns and 

 heavy goods either to stop th-ir mills or to work but a short time. It 

 has been well aaccrtaim-d, thai, with hi^h prices of the raw material, 

 the present enormous production of cotton manufactures will not, 

 and cannot, be taken off by the markets of the world." Manchester 

 Guardian, July 23r 1850 -from Mr. Rn,i1,\* ,,> r k. 



