THE COTTON QUESTION.

PROFESSOR LEONE LEVI ON THE COTTON TRADE.

Mr. LEVI, on the 20th of January, read a paper at a meeting of the Statistical Society of London, on the cotton trade. We extract from it the following: He observed, that of 6,300 factories in the United Kingdom, nearly the half of them were for cotton. Of 36,500,000 spindles, 30,000,000

Of

were for cotton. Of 490,000 power looms, 399,000 were for cotton. 779,000 persons employed in factories, 450,000 were employed in cotton factories; and of £130,000,000, which constituted the total value of goods manufactured in the United Kingdom, nearly £50,000,000 was the value of the cotton manufacture. The amount of the cotton manufacture consumed in this country he estimated at upwards of £30,000,000, and the capital invested in it had been estimated at £100,000,000. Having shown the vast importance of the cotton trade and manufactures, and the large proportion it bears to the commerce of the kingdom, Mr. LEVI observed that it is self-evident that it becomes of the greatest importance to secure a continuous and sufficient supply of the raw material. The countries which used in ancient times to supply cotton to Europe have remained quite stationary in their production, whilst America has made gigantic strides. From a table representing the stock of cotton on the 31st of December, in each year, from 1835 to 1862, it appeared that while the exports during the year 1862 were less than 600,000,000 pounds, against 1,260,000,000 pounds in 1861, and 1,400,000,000 pounds in 1860, our consumption has also been reduced to 400,000,000 pounds, against 1,000,000,000 pounds in 1861, and 1,100,000,000 pounds in 1860, and our exports have also diminished to 230,000,000 pounds in 1862; but that the stock on hand on the 31st of December, 1862, was 184,000,000 pounds, against 294,000,000 pounds in 1861, and 250,000,000 pounds in 1860. As regards the importation, it was shown that from the United States we received in 1862 only 72,000 bales against 1,840,000 bales in 1861, and 2,579,000 bales in 1860, and from British India we received 1,073,000 bales against 986,000 bales in 1861, and 562,000 bales in 1860. The cotton district of the United States lies between the 30 and 36 degrees of latitude, extending from the Atlantic coast westerly through 20 degrees of longitude. From this belt of country, scarce 400 miles in width, but including within it the States of Louisiana, Texas, Georgia, South Carolina, North Carolina, Virginia, Florida, and Alabama, the vast American product is gathered, amounting And but for the rebellion, which in good seasons to near 4,000,000 bales. includes the entire district, the prosperity and increase of the last few years would have justified the belief that the annual yield would have been doubled. Should slavery be abolished, we might fairly anticipate an almost total cessation of cotton production in those States for years to come. But even should the Confederate States succeed in obtaining their independence and in strengthening their institutions, it was most likely that agriculture and other interests will feel the influence of the present rupture in

want of capital and want of spirit for large commercial operations. It must be remembered also that the home consumption of cotton in the United States is considerable, and that it already absorbs more than 20 per cent of the crop. South and Central America, including Brazil, Peru, Paraguay, etc., can do much to supply large quantities. Still, taking them altogether, it will be a long time ere they can furnish sufficient to make up for the enormous quantities we have been receiving from America. But, long as it may be, that time will come, and then, in all probability, we shall have double the quantity heretofore produced in the two continents. Nor will it be too much. The consumption has been sensibly increasing in late years, and will still further increase as civilization and comforts advance. .And we may safely anticipate that, whatever be the quantity attainable, it will not be more than enough to meet the increasing demands for the population of the world.

INDIAN COTTON.

Before the interruption unhappily experienced in the supply of American cotton, Indian, from its less attractive qualities, was comparatively a drug in the market. Necessity, however, overcomes many objections-and perhaps it may also be added, to some little extent, prejudices in this case -and last year 697,862 bales of Indian cotton were taken into consumption, as compared with 356,495 bales in 1861; 168,263 bales in 1860; 177,393 bales in 1859; 319,574 bales in 1858; 377,706 bales in 1857; 267,028 bales in 1856; 276,487 bales in 1855; 208,184 bales in 1854, and 134,742 bales in 1553. It should be borne in mind, however, that the number of bales taken is not an exact criterion of the quantity of cotton consumed, as the Indian bale only weighs 375 pounds, while the American figures for 445 pounds.

The Calcutta correspondent of the Times writes:-"Cotton continues to pour down from the Northwest, and I hear that the prospects of the crop are now both better and worse than I formerly said; better in the Central Doab, where there will be an average yield; worse, especially on the right bank of Jumna-the cotton field proper-where, owing to storms, the failure has been considerable. The government of India has renewed its offer of prizes for the most and best cotton grown in 1862-3, and the Bombay government has appointed a commission to inquire into the adulteration of cotton, of which I wrote some three months ago. Sir BARTLE FRERE is showing great energy in Bombay, especially in the construction of roads, of which it has hitherto been more destitute than even Bengal."

Captain Ross D. MANGLES has written a long letter to the Times on the supply of cotton from India, chiefly defending the Indian government, which he shows was not to blame because the ryots did not raise cotton continuously when the demand was only fitful. At present, encouraged by high prices and relieved from any imminent danger, at least, of being suddenly thrust out of the market by an influx from America, India asks only the time prescribed by nature for the growth of the crop to furnish Lancashire with a very large, if not complete, supply. A continuous demand at a sufficient price, which heretofore India has never had, will assuredly bring out the supply, and the cause will as certainly effect an improvement in the

quality of the indigenous article, and lead at the same time to an enlarged use of American seed.

Mr. LANG, the ex-Chancellor of the Exchequer for India, has addressed a letter to the Times, in which he points out what, so far as he can see, are the prospects of the cotton trade. He has no doubt that the quality of Indian cotton may be improved and that the quantity may be largely increased, but he contends that the average produce per acre cannot, under any circumstances, approach that of America. He estimates that, for the next twelve months, India might furnish from 1,250,000 to 1,500,000 bales, but after time to extend the cultivation and get over the fluctuations on the termination of the American war, we might expect "somewhere about 2,000,000 bales, with a permanent average price of 6d. per lb. for Indian cotton in Liverpool; and 1,000,000 of bales, more or less, for each 1d. per lb., more or less, in the price of the article. He thinks that if the struggle between the Northern and Southern States were to terminate to-morrow, "the result at which we should probably arrive in two or three years, after severe fluctuations, would be something like the following: Cotton consumption of the world 5,000,000 bales. Supply: America, 2,500,000 to 3,000,000 bales, at 6d. to 7d. per lb.; India, 1,500,000 to 2,000,000 bales, at 5d. to 6d. per lb.; the rest of the world, 500,000 to 1,000,000 bales."

THE STOCK OF COTTON.

The stock of cotton appears to be maintained with considerable steadiness at Liverpool, an equilibrium having been at last attained between the demand and the supply. Thus, the course of affairs to January 23, this year, has been as follows, as compared with the corresponding weeks of 1862 and 1861:

It should be borne in mind, however, that a larger proportion of the stock now held being East Indian, the bales of which weigh 70 pounds less each than American, the quantity on store at Liverpool is actually smaller than might at first sight be supposed. Thus, the last weekly totals were made up as follows:

These figures indicate a decided progress in the development of new

sources of supply.

COTTON FROM BRAZIL.

In searching the world for supplies of cotton to fill the hiatus caused by the Southern blockade, the most hopeful parts have received scarcely any attention. Brazil is a magnificent country for cotton-growing. As long as the year 1856, Great Britain imported from Brazil nearly 22,000,000 pounds of this staple, of which about one-third was sent out from the port of Pernambuco. We are reminded of this fact by the arrival from the same part of the globe, of a considerable quantity of cotton at New York. Cotton culture in Brazil is yet in its infancy, but as the river and coast navigation is extended by the employment of steamers, and the interior is more intimately connected with the seaboard by the completion of lines of railway, we may confidently rely on a rapid increase of production. Among the new railroads wholly finished or in progress, is one from Bahia, one from Pernambuco, and two from Rio de Janeiro. The coastwise trade being now thrown open to foreign shipping, increased facilities will be enjoyed for concentrating at these points the products of the interior, and British and French capitalists will eagerly avail themselves of every new advantage. Brazilian trade, formerly engrossed by the United States to a large extent, is gradually slipping away from us through the efforts of more energetic rivals-Great Britain, supporting two distinct lines of first-class steamships, and France two, beside lines to Genoa, Hamburg, Belgium, and Portugal. From the year 1850, when Great Britain first established steam mail facilities, to 1855, she doubled a large trade of profitable exports, whereas before advantages were thus turned in her favor, the United States defied all competition. Thus we see that though geographically much nearer, and enjoying in a peculiar sense the favor of the Brazilian Government and people, and possessing a large variety of commodities adapted to a profitable exchange, we have allowed a rich trade to be diverted from us, and the Great Republic to be deprived of that commanding influence which it should. exercise among the free governments of the Western continent.

Brazil is at the head of South American States. Since the establishment of the empire, in 1822, she has made substantial and unfaltering progress in all the elements of national greatness. The glowing description given by HADFIELD'S Work on Brazil-published in London a few years ago--is fully deserved. He says:

"If once the tide of emigration begins to set fairly toward that immense agricultural field, watered by the rivers of South America, there is no foreseeing the extension of wealth and prosperity that must assuredly follow; for population is the sole requirement to fit these limitless and teeming regions to work out the destiny which it is impossible to doubt that Providence has designed for that portion of the earth, where the majesty and luxurience of nature invite the presence of man through highways at once the mightiest and most facile in the world."

Americans have not been wholly unmindful of their opportunities. In truth, American energy has been largely infused, directing in the construction of railways, encouraging manufactures, and stimulating trade. At St. Alexis, an American erected a cotton factory, the first in the province of Rio de Janeiro. All this is cause for congratulation. But if in past years the United States Government had engaged more earnestly in efforts for the establishment of steam mail lines, we should now enjoy that pre-eminence claimed by another, and be enabled to appropriate to ourselves the advan

tages arising from the best cotton-growing region of the world beyond the limits of our country. Brazilian cotton is always good, commanding a higher price in the Liverpool market than the average from American plantations, and may yet contribute, in an essential degree, to relieve the embarrassment trade is suffering. Its culture will rapidly extend, should remunerative prices continue. During the past year an English house in Brazil is said to have cleared $1,500,000 in this trade, and still another has profited very largely.

On the return of peace, we may hope our relations with Brazil will receive proper attention.

COTTON-GROWING IN SENEGAL.

Accounts have been received in Paris from the French settlement in Senegal to the 28th of December. Several merchants had commenced cotton plantations on their own account, and others were about to imitate them. Cotton produced from seed sown in February last was gathered in November. The seasons are so regular in Senegal, that cotton growers do not find it necessary to irrigate their plantations. A number of farmers from Alsace had likewise arrived at Senegal to cultivate cotton, and had commenced operations. The French Government, in order to encourage the cultivation of cotton among the natives, had determined to place at the disposal of the chiefs of villages such instruments and machines as are best calculated for the cultivation and dressing of the cotton plant. The government has sent to Senegal an American ginning machine, with cylindrical saws and keys like those of a piano. This machine was sent out by the Minister of Marine, and a press is likewise expected at St. Louis. The ginning machine is hired out to the public for a trifling remuneration. It is stated that the cost of the carriage of raw cotton is diminished three-fourths by the use of this machine. The cultivation of cotton in Senegal is practised as it is in the Brazils-that is, by the cotton tree, which lasts from eight to ten years -while in the United States the cotton is sown every year, and is gathered from the month of July until the plant is killed by the frost. As it never freezes in Senegal, the cotton tree lives. Nevertheless, according as the tree grows old, the quality becomes deteriorated. On the other hand, the cultivation is less expensive and demands less care than the cotton cultivated in the United States. An objection was raised against the cultivation of cotton in Senegal on the ground that the negroes, accustomed to the cultivation of oil nuts (ground,) would not give up the cultivation of that crop with which they are acquainted for that of cotton, which is new to them. It is now ascertained, however, that the two crops, far from being injurious to each other, may be grown in the same plantation. In fact, while preparing the ground for the ground nut, which does not rise higher than trefoil, that cultivation prepares the ground for the cotton tree, which does no injury to the arachide. Rows of cotton plants may be sown in a field with ground nuts.