The Meaning of Tariff Reform

Cover The Meaning of Tariff Reform
The Meaning of Tariff Reform
Stephen Walter
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But the most serious aspect of the cotton trade is to be sought neither in our lessened consump- tion of raw cotton nor in our diminishing exports of cotton goods.
It is to be sought in the fact that we are threatened with a continued shortage of raw cotton This means that it will be a matter of ever-increasing difficulty to supply our cotton mills with all the raw cotton they require, and, what is more important still, we shall have to pay more and more for even such supplies as we may be fort
...unate enough to secure.
The reason of this shortage is not far to seek.
At one period of our existence we were the principal consumers of raw cotton, but now there are many other competitors upon the scene, eagerly bidding for the raw cotton the world produces.
At the present time the Continent alone requires A VIEW OF THE COTTON INDUSTRY. Loi half as much again as we do, while the United States require for their own mills more cotton than they export to us.
Thus, whereas we have hitherto been able to secure only a constantly diminishing proportion of the American supply, it probably will not be long before the United States require the whole of their annual output for their own mills !


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