denied India even the guarantee that she will take 

 what is grown at a. fair price ; and the result has been 

 quite in accordance with those sound principles of 

 Economic Science which ordinarily regulate the laws 

 of production and consumption. Manchester and 

 Lancashire have been loud in their demands on the 

 Home and Indian Governments to encourage the 

 cultivation of Cotton, nay even to compel the Indian, 

 ryot to undertake it. But Manchester and Lanca- 

 shire, having reserved to themselves the right of 

 buying in the cheapest and best markets of the world 

 that may be open at the moment , have no just 

 ground of complaint against India, or any other 

 country that refuses to grow any staple for which 

 circumstances may have created a spasmodic de- 

 mand that prefers certain to uncertain profits. 



Such undoubtedly is the view sound economists 

 must take of this question, as one simply between 

 the Cotton Spinners of England, and the Cultivators 

 of India. But there is another point in regard to 

 the bearing of this and similar questions on the 

 welfare and material progress of India, that I do not 

 find illustrated in any of the English papers or 

 speeches I have read on the subject, and which has 

 been suggested to me by certain circumstances 

 connected with the subject on the consideration of 

 which I am at present engaged. 



The Cotton Spinner, alarmed tor the safety of a 

 trade in which he has invested his all, would protect 



