History of the Rise And Progress of the Iron Trade of the United States, From 1621 to 1857. With Numerous Statistical Tables, Relating to the Manufacture, Importation, Exportation, And Prices of Iron for More Than a Century

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91 It especially affects the consumption of cottons and woollens ; for the use of these can be abridged to a greater extent than food. All interests are, therefore, bound together by common ties ; when one suffers, all suffer. It is a great mistake to suppose that the pro- ducers of cotton, sugar, rice, and tobacco, have no special interest in the activity of manufacturing in- dustry in other States. A very large proportion of the cotton crop is now consumed in the United States, and thus kept ...from the British market, already so liberally supplied as to give British merchants control of the price. When British iron is exported to us for want of a market at home, we take it at our own price ; when we order large quantities of iron, we pay what they can exact. Our cotton is mainly ex- ported, disgorged upon the British market, and the price is made in Liverpool. When British manufac- turers shall be compelled to come hither for their cot- ton, the price will be made by the planters. The present supply is so large, that the price is yearly the result of mere speculation.

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