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 for years in succession. A great many more produce seven bales occasionally. A few produce even ten bales occasionally, though by no means as often as is reported.

Now, it is not at a Roman lottery alone that one may see it, but all over the world, where a few very large prizes are promised and many very small ones, and the number of tickets is limited; these are always speculated on, and men will buy them at third and fourth hand at prices which, it is useless to demonstrate to them, must be extravagant. They go to the Jews and pledge the clothes on their back to get another biacchi to invest; they beggar themselves; they ruin their families; they risk damnation in their passionate eagerness to have a chance, when they know perfectly well that the average of chances is not worth a tithe of what they must pay for it.

The area of land on which cotton may be raised with profit is practically limitless; it is cheap; even the best land is cheap; but to the large planter it is much more valuable when held in large parcels, for obvious reasons, than when in small; consequently the best land can hardly be obtained in small tracts or without the use of a considerable capital. But there are millions of acres of land yet untouched, which if leveed and drained and fenced, and well cultivated, might be made to produce with good luck seven or more bales to the hand. It would cost comparatively little to accomplish it—one lucky crop would repay all the outlay for land and improvements—if it were not for "the hands." The supply of hands is limited. It does not increase in the ratio of the increase of the cotton demand. If cotton should double in price next year, or become worth its weight in gold, the number of negroes in the United States would not increase four per cent. unless the African slave-trade were re-established. Now step into a dealer's "jail" in Memphis, Montgomery, Vicks