1S15.— The number of mills in New England, 165, with 119,310 spindles. 



1S16. — South Carolina sea-island cotton sold for 55 cents a pound at Charleston. 

 Machines for making cotton lace introduced into France. 



1818. — Extraordinary importations of cotton into Great Britain from the East 

 Indies. 



1819. — Early in this year a general business depression began to affect adversely 

 the price of cotton. 



1820. — Successful apiilication of steam power to cotton-lace machinery. 



Prices. — During this decade occurred the war with England, which greatly 

 depressed prices in the United States in 1812, 1813, and 1814, and, on the other hand, 

 on account of the falling off in our exports to Great Britain, caused a great advance 

 in Liverpool prices. In 1819 and 1820, when the crops were greatest in the United 

 States and the stocks the largest at the close of the year in Great Britain, prices 

 were the lowest. 



Table IV. — Showing supply and consumption of cotton in the United States and Europe — 



surplus stocks and prices. 



[Tu bales.] 



1 The exports from Great Britain not included ; hence the apparent discrepancy in the amounts of 

 surplus stocks. 



^Froni 1821 to 1825, inclusive, the supply and consumption for Great Britain only are given. Begin- 

 ning with 1826 the European supply is derived from imports and stocks left over. 



1821. — Cotton culture first introduced on a large scale in Egypt. 



1822.— The first cotton mill built at Lowell, Mass. 



1823. — Long-staple Egyptian cotton began to be imported into England. 



1825. — The number of spindles in the United States, 800,000; unprecedented specu- 

 lations in Liverpool. 



1820. — The high prices the year previous caused an increase of acreage and a 

 largely increased crop. 



.?<?^7.— Great drought in Alabama, Tennessee, Mississippi, and Louisiana. 



1828. — Sea-island cotton sold for $2 a pound. 



1839. — First cotton mill run by other than horse power built at Athens, Ga. ; a 

 second such mill built in South Carolina. 



1830. — First railroad built south of the Potomac, from Charleston, S. C, to 

 Hamburg. 



Prices. — What was perhaps the first great '' bull movement " in the cotton market 

 occurred in Liverpool in 1825, when cotton advanced in price 110 per cent, followed 

 in this country by an advance of 85 per cent. This advance was simply speculative, 

 and possibly originated in the attempt of a Liverpool house to prove that cotton 



