Page:Stryker's American Register and Magazine, Volume 6, 1851.djvu/349

Rh together, the difference between the two years is but 59,000 bales. This result is highly favorable to the growers of cotton, and is an effectual answer to the dismal forebodings and unfounded conclusions of many on either side of the Atlantic, that any considerable advance in prices would materially reduce the consumption, and prove disastrous to the manufacturing interests. The fact, however, has been established, that at an advanced range of prices, averaging for the past year 50 per cent. over those of 1849, the consumption of Great Britain has fallen off but 8 per cent.! and the manufacturing interests were never more prosperous. The past history of cotton shows that an advance of price to 8½d., has never materially affected consumption.

The Import of American cotton in Great Britain during the year just closed, was 1,184,000 bales; her Consumption and Export, 1,230,000 bales, or 54,000 bales more than the Import. Her stock, though 75,000 bales more of this year's crop was received than in. 1849, is, nevertheless, diminished by 40,000 bales. Our crop in 1851 is estimated at 2,150,000 bales, every bale of which will be consumed; and more will be wanted. The stocks in France and on the Continent, are small. These markets will require 800,000 bales; the consumption of this country will require 500,000 bales, and with these deductions. Great Britain cannot easily obtain a supply equal to her consumption of the past year. Could the dealers and cotton-growers of the United States, withhold supplies for three months, and thus compel her to prove her stocks by working them up, it is supposed that the price of cotton would advance much beyond former rates.

The reports from Britain appear to have purposely understated for some years back, in order that the disclosure of the large amount on hand might afterwards lower prices when the planters had raised a large crop, in expectation of high prices. This fact should be a warning for the future.

Annual rental of the land of Great Britain '. . . £45,753,610

Rental of the land in Ireland 17,618,876

Value (according to 80 years' purchase) of the land in Great Britain and Ireland 1,901,144,760

Poor rates of England and Wales 5,271,264

Farmers' live stock, dead stock, wages, and supplies. . 604,833,730