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GIPE-190478.Pdf (6.423Mb) SEIV AtrIS OF INDIA SOCIETY'S I8IlIY ... PUNE 411 004 ~~N 110 Lf')8 Date of release for loan ThIs book should be returned on or before the last date stamped below. > An over. clrarge of S paise will be lerled for each day lite hOi" ;s kept beyond t1d.J date. 3 JUN tsaz . I j j j j j j j j j j j j j INDIAN JOURNAL OF ECONOMICS. j Re~d. ••• J.Q•• W.R• .t9l4_ j No • ...t}q"i ............... _ j j j j j j j j J PUBLICATIONS OF THE UNIVERSITY OF MANCHESTER Dhananja}'lllao,•....•.. Gadgil Library GIPE-PUNE-I90478 ECONOl\llC BII'I'ClaY IBID' Mo. IX THE LANCASHIRE COTTON FAMINE 1861-1865 Publilhed by the Univenity of Manchelter at THE UNIVERSITY PRESS (H. M. McKxcR."Iu, M.A., Secretary) z3 Luo: GaoVE, MANCHESTER, '5 THE LANCASHIRE COTTON FAMINE BY W. O. HENDERSON . Ufliwrsity L«ttwn ill tM ~ " C-,r"", C~ J"."ly L«twn ill ~ Hinwy UfIiwnity of UfIn'IHl PUBLICATIONS OF THE UNIVERSITY OF MANCHESTER No. CCXXVIII x '3(~"I-;D ~ ~'1'.2 .~ 1'0 ,t"\7 190Lt7S ~4 TO MY FATHER AND MOTHER PREFACE. inquiry had its origin in studies which I undertook he London School of Economics. I attempted to ey the effect of the over-prOduction of cotton yam and lain 1859-61 and of the American Civil War on the on industries of the world. My work was done under supervision of Mr. H. L. Beales and owes much to nspiration. Not only in discussing the main outlines he research but in suggesting new lines of inquiry in criticising chapters as they were written Mr. :es has been unfailingly helpful. His advice and )uragement were invaluable. The present study has a more restricted field. It is med to the cotton industry of Lancashire and ad­ ing counties. For a description of the Cotton Famine the Continent reference may be made to an article m I contributed to the Economic History RefJiew in ru, 1933. The following articles, by kind permission the editors of the publications concerned, are repro­ :ed either completely or in part:- 7U1mic History : The Public Works Act, 1863 (January, 1931). :pire Cotton Growing RefJw: Empire Cotton during the Lancashire Cotton Famine, 1861-65 (January, 1932). The Cotton Supply Association, 1857-72 (April, 1932). John Bright and Indian Cotton (July, 1933). vii -- ------- - -~-r---~ of nineteenth century economic history. I thank authorities concerned for permission to use the ] Minutes of the Liverpool Cotton Brokers' Associa (now in the possession of the Liverpool Cotton Associati the Manchester Chamber of Commerce, and the Lon Trades Council. Other obligations are acknowled in the text. The University of Liverpool have made a grant wards the expense of publishing this book, and I t1J them for their generosity. W. O. HENDERSON. DOWNING COLLEGE, CAMBRIDGE, 31'4 January, 193+· CONTENTS. CHAPTER I., THE UNCASHlltl! COTI'ON INDUSTIty IN 1860. PAn ~tent of Cotton Industry 1 lactors Contributing to its Development 1 :Ondition of Operatives . 3 - 'angers to the Industry- I. Foreign Competition .. 2. Periodic Depressions 5 3. Dependence on One Source of Supply for its Raw Material. 5 CHAPTER II. COMMERCIAL AsPECT OF THE COTI'ON FAMINE. tatistica! Difficulties 7 lenera! Prosperity of 1860-66 owing to- I. Reaction after Depression of 1857 8 2. Commercial Treaties 9 3. Benefits Derived by Woollen and Linen Industries from Dislocation of Cotton Trade 9 4. Collapse of American Shipping, which enabled British Mercantile Marine to Establish its Supremacy 10 :Otton Crisis due to- I. Over-production of 1859-61: Glut of Goods which un­ expectedly Increased in Value during the Cotton Famine and brought in Big Profits to some Manufacturers • II 2. Cotton Famine: High Price of Cotton • 13 ~ains were made during the Cotton Famine by- I. Manufacturers who sold Cotton Goods at High Prices and Re-Exported Cotton to U.S.A. 14 ix ,x CONTENTS 2. Brokers, Agents and Warehousemen-whose Percentage ··4 Increased as Price of Cotton Increased I 3. Speculators who­ (a) Financed Blockade Running. (b) Gambled (Futures Developed) J Rationalisation of Cotton Industry owing to these Gains and to 1 Confidence of Bankers I~ Losses of Manufacturers­ I I. Loss of Trade, Decline of Income from Cottage Rents, Heavy' Poor Rates 19 2. Financial Difficulties of 1864 and crisis of 1866- Causes 1864. 1866 . Losses Illustrated by Increase in Bankruptcies and Decrease in Income Tax Receipts • Disputes between Spinners, Merchants and Brokers 2 CHAPTER III. COTTON SUPPLY. Cotton Famine Due to Depending on Southern States for Three- Quarters of Supply . Early Attempts to Increase Supplies from Other Countries Work of Cotton Supply Association, 1857-72 Reasons for its Weakness- I. Lack of Support from many Lancashire Manufacturers z. Lack of Funds 3. Lack of Active Government Support 4. Mistakes of Cotton Supply Association Discussion of Attempts to Increase Cotton Supply of- I. British Empire (a) India • (b) West Indies (c) Australia z. Ottoman Empire, particularly Egypt 3. Brazil • +. Colonies of Continental Powers (e.g. Algeria) 5. Europe (e.g. Spain, Italy) CONTENTS CONTENTS xi CHAPTER IV. RELIEF OF DISTRESS IN LANCASHIRE. :e Relief- PAGE I. Policy of Poor Law Board in 1860 • 52 2. Strain on the Poor Laws, 1861-62 . 52 3. Mr. Farnall Appointed Special Commissioner 53 4. Farnall's First Tour of the Distressed Distncts 55 5. Union Relief Aid Act, 1862 57 6. Public Works Act, 1863 . 59 rate Charity- 1. Unorganised Private Charity 68 2. Local Relief Committees 74 3.· Central Relief Committee (Manchester) and Relation to the I Local Relief Committees 75 4. Lancashire and Cheshire Operatives Relief Fund (Mansion House Fund) 5. Colonial and Foreign Subscriptions (including Subscriptions in Money and Kind from the United States) 82 liculties in Distributing Relief- I. Lord Derby's Minute of January 12, 1863 2. Imposture on the Part of Applicants for Relief . 3. "Labour Test" and" Educational Test" 4. Religious Dissensions CHAPTER V. THE LANCASHIIlE ConoN OPERATIVES DUlliNG THE FAMINE. lousing. 94 OSI of Savings 97 roperty Pawned 98 ~ 1m [ea1th • 102 feet of the Famine on Births, Marriages and Deaths. 105 :rime 107 talybridge Riots IIO ,migration I 15 CHAPTER VI. CONCLUSION. ummary 119 :Otton Famine in U.S.A., Scotland, Ireland and the Continent 119 .. XlI CONTENTS CHAPTER VII. ApPENDICES. A. Liverpool Cotton Prices, 1861-67 . B. Limited Liability Cotton Companies, 1856-65 C. Table Showing the Net Result of the Improvements of Ma­ chinery in the English Cotton Industry, 1858-68 D. Trade Customs in Manchester, 1882 E. List of Limited Liability Companies Formed to Grow (or to Promote the Growth of) Cotton in Countries other than the U.S.A. F. Particulars of" Effective" Cotton Growing Companies Formed in 1856-65 BIBLIOGRAPHY. Development of the Cotton Manufacture to 1860 and Condition of the Lancashire Cotton Operatives before the Cotton Famine- I. Bibliographies 2. Parliamentary Papers 3. Unofficial Papers . 4. Books and Pamphlets 5. Articles Relief of Distress and Effects of the Cotton Famine on the Operatives- I. Parliamentary Papers: (a) Acts, (b) Reports, etc. I~ 2. Unofficial Reports . 14 3. Books and Pamphlets 14 4. Anonymous Pamphlets 14 5. Articles and Papers 14 6. Newspapers: (a) Cuttings in John Rylands Library, (b) London and Provincial, (e) American 14 Cotton Supply- I. Bibliography . If 2. General: (a) MSS., (b) Parliamentary Papers, (e) American Official Documents, (d) Books and Pamphlets, (e) Anony- mous Pamphlets, (J) Articles and Papers . 141 3. Southern States: (a) Books, (b) Articles and Papers . I+~ 4. India: (0) Parliamentary Papers, (b) Unofficial Reports, etc., (c) Books and Pamphlets, (d) Articles, (e) Thesis IS( CONTENTS xu P£O. ;. Ottoman Empire: (4) MSS., (6) Parliamentary Paper, (r) Books and Pamphlets, (d) Articles and Papers ). Africa (except Egypt): (4) General, (6) West Africa, (r) Algiers 155 '. Australia . 156 I. Central and South America and West Indies: (4) Mexico, (6) British Guiana, (r) Brazil, (d) Peru, (I) Argentine and Paraguay, (f) West Indies. ,. Europe (except European Turkey): (4) Italy, (6) France, (r) Spain . 157 I. Central Asia . ,158 ,1. Substitutes for Cotton: (4) Books and Pamphlets, (6) Articles and Papers erdal Aspects of the Cotton Famine- · MSS. 158 • Parliamentary Paper 158 · Books and Pamphlets 158 • Tables, Articles and Papers 159 · Cotton Circulars . 161 Lancashire Cotton Famine as a Factor in Anglo-American . Relations during the American Civil War- ~. MSS.. 162 I. Parliamentary Papers 162 I. American Official Documents 162 I-- Boob and Pamphlets 163 ;. Articles and Papers 165 >. Theses 166 Cotton Famine in Places other than Lancashire- I. Scotland: (4) Parliamentary Paper, (6) Unofficial Reports, (r) Book, (d) Paper, (I) Newspaper.. 166 2. Ireland: (4) Books and Pamphlets, (6) Newspapers . 167 3. Northern States of U.S.A.: (4) Unofficial Reports, (6) Books 16] 4. France: (a) Official Reports, (6) Unofficial Reports, (r) Boob, (d) Articles, (I) Pamphlet. 168 5. Germany: (4) Official Reports, (6) Unofficial Reports, (r) Boob, (d) Articles, (I) Thesis 169 6. Switzerland.. 170 7. Russia: (0) Parliamentary Papers, (6) Books . 170 ex 171 ABBREVIATIONS. Am. Ch. Comm. MS. Minutes of the American Chamber of Comn of the Port of Liverpool. C.S.R. Cotton Supply Reporter. Hunt'sM.M. Hunt's Merchants' Magazine. Lpl. C.B. Assn. MS. Minutes of the Liverpool Cotton Bro Association. M.Ch.Comm. MS. Proceedings of the Manchester Chamb, Commerce. M. Daily E. €!J rr. ManchlSttr Daily Examintr and rrimts. Me. Stat. Soc. Proceedings of the Manchester Statistical Soclet} M.O.ofP.C. Medical Officer of the Privy Council. P.P. Parliamentary Papers. P.L.B. Poor Law Board. ournaI of the Statistical Society of London, R. Stat. Soc. later tournal of the Royal Statistical Society.
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