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238 of a large development of this industry, and the conclusions reached are very interesting. It appears that Russia possesses in one corner of her vast territory, a region well adapted to the raising of cotton of at least one variety, American cotton, which is used so extensively for manufacturing and other purposes. Both the soil and the climatic conditions of this region are favorable, and what is needed now to transform the practically desert plains of Turkestan, sparsely settled by nomadic native tribes, into rich cotton plantations, is business energy, enterprise, and capital. Upon these three pillars, a throne can be constructed, on which to crown Cotton the King of Turkestan. Here, indeed, is a field for the application of the same American capital and constructive genius that have wrought wonders in so many fields of industrial endeavor. The problem is large, but the possibilities are vast and rich, and the promise of returns both for the economic life of Russia and for the American investors is bountiful.

The vast territory of Turkestan is largely unsuited for cultivation through natural hindrance to agriculture. At the present time over ninety-seven per cent of the territory lies waste, and only about 6,750,000 acres are used for agricultural purposes. A considerable portion of this territory is occupied by the cotton belt, and the annual crops average about two hundred thousand tons, each pound of fiber being yielded by three and a half pounds of raw cotton. The value of this land, capitalizing the returns, is about four hundred roubles an acre.

But the three per cent of the territory of Turkestan now under cultivation do not exhaust all the possibilities of this region. Geological studies undertaken there several years ago have shown that it is posiblepossible [sic] to increase the territory suitable for agricultural purposes by almost nine million acres, i. e., by one and a half times the territory under cultivation at the present time. This territory must be irrigated, and it is the development in this direction that will make it possible for Turkestan to become what it might be from the point of view of cotton growing. The amount of water available is estimated to be sufficient to irrigate a region large enough to produce sufficient cotton to meet the demand of the Russian market, i. e., double the present output of Turkestan. The country is watered by several streams, among which are two rivers of considerable size, the Syr Darya and the Amu Darya. Several small irrigation projects have been started, but only two canals have been