During the period in which the in creased production has been going forward with the greatest rapidity in America, the prices have been continually declining. In the table of prices given by Mr. Wood bury as those of the United States, at the places of exportation, and including all kinds of cotton, it is shown that the average price of each period of five years, from 1791 to 1835, has been as follows, viz. :— per lb. per lb.
1791 to 1795. 15Id. 1816 to 1820.13d.
1796 to 1800. 18d. 1821 to 1825. 8d.
1801 to 1805.124d. 1826 to 1830. 5d.
1806 to 1810. 9id. 1831 to 1835. 6d.
1811 to 1815. 7id.
Mr. Woodbury states that " where rich lands and labour were low, as in Missis sippi and Alabama a few years ago, two cents (one penny) per pound for cotton in the seed, or eight cents when cleaned, would pay expenses. It is supposed to be a profitable crop in the South-western States at ten cents per pound." Mr. Bates, of the house of Baring and Co., stated before a Parliamentary Committee, in 1833, that " even six cents, or three pence per pound, is a price at which the planters can gain money in the valley of the Mississippi." Land fresh brought under cultivation in the United States will yield on an average from 1000 to 1200 pounds per acre of cotton with the seed, which will yield of clean cotton from 250 to 300 pounds.
Bengal cotton of inferior quality can, it is said, be raised for three half pence per pound, and delivered in England at an advance of one penny upon that price. Good Surat cotton is said to cost two pence half-penny per pound, delivered at Bombay. The cost of production in our West India colonies is considerably greater, and the cultivation of cotton has consequently been for the most part aban doned by the British planters.
The relative value of the kinds of cotton most commonly introduced for sale and use in this country, will be seen in the following list of average prices per lb. for the years 1843 and 1844 :— 1848. 1844.
d. d. d. d.
Sea Island . 10, to 21 10 to 22 Bowed . 44 to 6 34 to 5 Orleans, 41 to 74 31 to 6 Pernambuco . 51 to 61 5 to 6-1 Bahia . 54 to 6 41 to 5} Maranham . 4} to 6, 4 to 51 Egyptian . 6 to 8±- 5 to 81 Surat . 3} to 44 2} to 4 The growth of the cotton trade has been rapid beyond all commercial prece dent. In 1786 the total imports were somewhat less than 20,000,000 pounds, no part of which was furnished by North America. Our West India colonies sup
plied nearly one-third, about an equal quantity was brought from foreign colo nies in the same quarter, 2,000,000 pounds came from Brazil, and 5,000,000 pounds from the Levant. In 1790 the importa tions amounted to 31,447,605 pounds, none of which was supplied by the United States. In 1795 the quantity was only 26,401,340 pounds. In this year a com mercial treaty was made between the United States of North America and Great Britain, by one article of which, as it originally ;rood, the export was pro hibit,ed from the United States in Ameri can vessels of such articles as they had previously imported from the West Indies. Among these articles cotton was included, Mr. Jay, the American negotiator, not being aware that cotton was then becom ing an article of export from the United States. In 1800 the imports had more than doubled, having reached 56,010,732 pounds. This was the first year in which any considerable quantity was obtained from America ; the imports from that quarter were about 16,000,000 pounds. The progress of this trade during the present century is shown by the following table, exhibiting the imports at intervals of five years From all places. lbs.
1805 . 59,682,406 . 32,500,000 1810 . 132,488,935 . 36,000,000 1815 . 99.306,343 . 45,666,000 1820 . 151,672,655 . 89,999,174 1825 . 228,605,291 . 139,908,699 1830 . 263,961,452 . 210,885,358 1835 . 363,702,693 . 284,455,812 1840 592,488,010 . 487,856,504 1842 . 673,193,136 . 574,738,520 1844 . 646,874,816 . . • .
The quantities actually employed in our manufactories in different years during the same period have been as under :— lbs. lbs.
1800, 51,594,122 1837, 368,445,035 1805, 58,878,163 1838, 455,036,755 1810, 123,701,826 1839, 352,000,277 1815, 92,528,951 1840, 528,142,743 1820, 152,829,633 1841, 437,093,631 1825, 202,546,869 1842, 473,976,400 1830, 269,616,640 1843, 585,922,624 1835, 326,407,692 1844, 558,015,248 1836, 363,684,232 The average deliveries of cotton per week, for home consumption, from the ports of Great Britain, distinguishing the deliveries at Liverpool, have been as follows since 1835 : Liverpool. Bales. Bales.