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The Daily Phoenix
Columbia, Richland County, South Carolina
What is this article about?
The London Times reports uncertainty in England's cotton supply due to the American Civil War, with costs doubling to £60 million for half the pre-war amount. Alternatives like China, Japan, India, and Egypt have failed to meet expectations, potentially allowing the US South to regain monopoly if labor reorganizes.
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The London Times' correspondent says that the cotton question is far from settled yet, and the great doubt as to the American production hinders all calculation. Before the war England paid £35,000,000 a year for cotton, of which £21,000,000 went to the United States. Now, for a half supply, she pays nearly double that amount—say £60,000,000. China, Japan, India, from which so much was expected, are practical failures. Egypt does a little better, but not enough. If labor can be re-organized in the South, America may again have the monopoly and supply the world.
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Foreign News Details
Primary Location
England
Outcome
england now pays nearly £60,000,000 for half the pre-war cotton supply, double the previous £35,000,000 annual cost; china, japan, india are failures; egypt insufficient; potential us south monopoly recovery.
Event Details
Uncertainty persists in the cotton question due to doubts over American production. Pre-war, England imported £35,000,000 worth of cotton yearly, £21,000,000 from the US. Current half-supply costs nearly double at £60,000,000. Expected sources like China, Japan, India have failed practically; Egypt performs slightly better but not adequately. Reorganization of Southern labor could restore American monopoly.