STAPLES OF AND F'Hi AMERICA, 33 



from 1838 to 1850, only 8}] cents per lb. Irregularity 

 of production would necessarily cause fluctuations in the 

 market. An abundant crop one year might cheapen, 

 while a short crop the next might enhance, the prices; 

 but such irregularity, in the long run, could not pull down 

 the price some 29 per cent, permanently if there was not 

 over production. There is no over production Tor the 

 world. The world would find people to wear twice the 

 quantity of cotton clothing, but the lowness of prices 

 must be tempting to the world for them to do so. For 

 instance, Americans consume 11 2 Ibs. per head; it has 

 been calculated that the East Indians consume 20 Ibs. per 

 head ; Great Britain only 41 Ibs. per head. Here is 

 room, if returns be correct, for an increase in the con- 

 sumption to take place in Great Britain of 7 Ibs. per 

 bead, or say, some 210,000,000 Ibs. But what is to pre- 

 vail on Great Britain to wear more cotton cloth ? Simply, 

 to produce more cotton, and cheapen the price ; not to 

 raise it above what it is at present selling. Cheap prices 

 have given a wonderful impetus to the consumption of 

 cotton ; and lower it still, it would go on increasing. 

 Yet the present quantity produced is over production for 

 the cotton planter, inasmuch as he sells his cotton for 

 the last twelve years for 2S> per cent, less than the former 

 twelve years. Not only has the prices of cotton receded 

 some 29 per cent., but the productive powers of the cotton 

 land is seriously diminished. Under these circumstances, 

 is it safe to persevere in extending cotton cultivation ? 



But now, to take another view of the cotton trade of 



America, in conjunction with that of other countries. 



China cannot produce suflicient of all things for herself; 



>il is covered over with mountains, which take away 



1 



