32 AGRICULTURAL AND* COMMERCIAL 



so as not to compensate for all the risks from short crops, 

 or a complete failure, the only way is to give up planting, 

 and plant, or grow something else. Interference with the 

 course of events will drive cotton planting from these 

 States ; while allowing matters to right themselves, will, 

 at least, preserve a fair portion of the cotton trade to 

 America. 



Again, the committee states &quot; The largest five 

 years average production the world has yet furnished i& 

 2,791,000 bales per annum. That, of these, England, 

 France, and the United States require for their con 

 sumption from 2,000,000 to 2,200,000 bales, leaving not 

 more than one-fourth of the annual product to supply the 

 balance of the world, with a population probably teD 

 times as large as their own.&quot; 



Here is another very erroneous view put forward. It 

 is so well known that England are spinners and weavers 

 for all the world, that it is difficult to conceive how the 

 committee could put forward the statement above. 



The imports to England are exported again to India, 

 China, the Continent of Europe, all Asia, Australia, 

 Africa, Russia, and to all places ; not more, if as much, 

 as one-sixth part of the cotton imported being used in 

 England. The imports to England for 1849 from all 

 countries were 775,470,000 Ibs. ; the consumption for that 

 year of Great Britain was 136,420,765 Ibs. only. 



The committee again states a Having now shown 

 that there has been no over production in the aggregate, 

 and that there is no reasonable probability that there ever 

 will be, your committee will show the effects of irregular 

 production on prices and consumption.&quot; It is seen, from 

 1826 to 1838, the price of cotton was 121 cents per lb.; 



