140 



COTTON WOOL. 



Letter to produce of cottoii in the year 1827havin2; exceeded 



Bombay, ^ , . . 



18 Feb. 1829. the general demand, and the importation into 

 Great Britain of the year 1828, although much 

 short of the preceding year's supply, have been 

 very ample. The price at the place of growth of 

 the Broach cotton, which was exported to China- 

 per Hi/the on the Company's account in the year 

 1826-7, appears by the invoice to have been 120 

 rupees perSurat candy, including factory charges^ 

 which at the rate of exchange of two shillings ster- 

 ling the rupee, gives the cost three-pence three- 

 ^ farthings per pound; to which being added the 

 expense of transportation to the presidency and 

 packing for Europe, amounting to ten or fifteen per 

 cent, more, gives a price of at least four-pence per 

 pound for inferior cotton deliverable at Bombay, 

 and worth in London, at the present time, not more 

 than four-pence halfpenny per pound, against good 

 cotton deliverable at New York at the cost price 

 of five-pence per pound, and selling in London for 

 six-pence halfpenny per pound. 



7. A slight encouragement has been extended 

 by Parliament during the last session (9 Geo. IV, 

 cap. 76) to the cotton in India in common with 

 that of other British possessions, by the reduction 

 of the import duty from its former rate of six per 

 cent, on the value, to a fixed rate of four-pence per 

 cwt., so that the quantity of cotton in a Surat bale 

 will pay a consumption duty of about one shilling 

 and two-pence, whereas the same quantity of Ame- 

 rican 



