Fibres. 



106 



[February, 1910. 



ation in the condition of the industry is 

 therefore looked for. A statement issued 

 by the International Federation in re- 

 ference to the supply of raw material 

 indicates that the cotton crops of the 

 world for the present season are expected 

 to suffice for the requirements of the 

 trade even should the American crop 

 prove to be only a moderate one. The 

 Committee of the Federation, however, 

 point out that if full time were resumed 

 the result, in view of the enormous 

 enhancement in the price of raw cotton 

 would be injurious to the interests both 

 of the industry and of the consumer. 

 " The burden on the consuming public," 

 they add, "may be judged from the fact 

 that if the present American crop were 

 disposed of at the present high level of 

 prices, the increased value in comparison 

 with the range of prices in force six 

 months ago would amount approximately 

 to £50,000,000 sterling, part of which 

 would be borne by the European cotton 

 industry and by the consumers of its 

 productions, and the balance by the 

 American cotton manufacturing industry 

 and the consumers of its productions." 

 These figures are certainly startling, 

 illustrating, as they do, the far-reaching 

 effect of a pronounced rise in raw 

 material. The primary object of course 

 of the International Association is to 

 protect the interests of the trade it 

 represents, and it certainly has attained 

 an influence which is unparalleled in 

 industrial history- Although it was 

 established as recently as 1904, with its 

 headquarters in Manchester, no fewer 

 than twenty-two cotton-using countries 

 are co-operating in its work, while its 

 committee includes a representative of 

 each important manufacturing country 

 in Europe and also a representative of 

 Japan. Mr. C. W, Macara, the leader of 

 the Lancashire industry, who is Chair- 

 man of the Committee, in explaining 

 recently the genesis of the short-time 

 movement, declared that it was rendered 

 essential by wild speculation in the raw 

 material, which had completely upset 

 confidence, and caused a reduction of 

 demand from the great markets of the 

 world at a time when over-production of 

 manufactures and general trade depres- 

 sion were rife. But the energies of the 

 Federation are not confined to this one 

 aspect of the cotton problem. At its 

 sixth International Congress held in 

 Milan during the present year, the 

 subjects considered ranged over a wide 

 field, including the expansion of existing 

 cotton growing areas and the opening 

 up of new ones, the more scientific 

 cultivation of the raw material, the 

 International standardisation of grades 

 of cotton, and many other subjects of 



practical importance. The question of 

 dealing with the operations of specul- 

 ators and of ensuring au adequate supply 

 of raw material has for many years 

 given rise to anxious thought. Among 

 the schemes brought before the Congress 

 was one which proposed the formation 

 of a limited company comprising the 

 entire cotton industry of the world, 

 whose function would be to purchase a 

 huge quantity of raw material to be 

 maintained as a reserve until pricas 

 reached a fixed limit, when it would be 

 sold to spinners, Thin project was the 

 subject of an interesting discussion in 

 which some delegates opposed it as im- 

 practicable, while others maintained 

 that the working of short time has 

 proved the most effective method of 

 fighting a "corner." The subject, how- 

 ever, is to be kept under consideration, 

 though at the moment the weight of 

 opinion appears to be against its 

 adoption. It is beyond dispute that 

 over-production in Lancashire has been 

 largely brought about by excessive 

 building of mills during periods of pros- 

 sperity, but how this is to be checked is 

 a problem difficult of solution. The 

 striking fact of the moment, however, 

 is the remarkable position which the 

 International Federation has attained, 

 notwithstanding the obstacles that 

 inevitably stand in the way of 

 co-operation among countries which 

 keenly compete with each other in 

 neutral markets. 



BRITISH COTTON-GROWING. 



Progress in West Africa. 



(From the Indian Trade Journal, Vol. 

 XV., No. 185, October 14, 1909.) 

 The sixty-seventh meeting of the 

 Council of the British Cotton-growing 

 Association was held at the offices of 

 the Association on September 7th, the 

 President, Sir Alfred L. Jones, in the 

 chair. 



A considerable quantity of cotton is 

 now coming forward from British East 

 Africa and Uganda, and the outlook con- 

 tinues very favourable. In Nyasaland 

 also the industry is making consider- 

 able progress, both amongst European 

 planters and also the native population, 

 and the quality of the cotton is gradu- 

 ally improving. 



West Africa. 

 The purchases of cotton in Lagos for 

 the month of August are 323 bales, as 

 compared with 137 bales for August last 

 year and 545 bales for the corresponding 



