Cotton As a World Power : a Study in the Economic Interpretation of History

Cover Cotton As a World Power : a Study in the Economic Interpretation of History
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What would happen if no cotton was furnished for three years T I will not stop to depict what every one can imagine, but this is certain : England would topple headlong and carry the whole civilized world with her, save the South. No, you do not dare to make war on cotton. No power on earth dares to make war upon it. Cotton is King. " SENATOR HAMMOND'S emphasized use of Christy's phrase immediately gave it universal currency, and sent it running through the world of commerce to this day. Anothe...r phrase, "mud-sill, " has given added fame to his speech. After showing how the cotton crop had recently saved the North from financial ruin, he claimed that the greatest strength of the South, after all, was not financial, but social ; "arising from the harmony of her political and so- cial institutions. " Speaking to this point, he con- tinued thus in defense of Southern slavery: "In all social systems there must be a class to do the menial duties, to perform the drudgery of life. That is, a class requiring but a low order of intel- lect and but little skill.

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