gate exports decreased to $52,965,513, showing a falling off of a million and a half, under high duties. Turning, then, to the period of reduction, the period depicted by gentlemen as so disastrous to the state, we shall find, instead of a decrease, the aggregate exports of the period swelled to $78,338,594, being an increase of $25,375,081, compared to the preceding period of high duties. The effect on the imports is still more striking, both in the falling off during the period of high duties and recovering under that of reduction.

But it has been attempted to explain this rapid increase of exports on the ground that a large portion are the products of Georgia, drawn to the port of Charleston by the railroad to Hamburg, opposite to Augusta. It is probable that there was a greater amount from Georgia during the last period, compared with the preceding, from that cause, but nothing like sufficient to account for the increase, as would be manifest by turning to the exports and imports of Georgia for the same period. I find, on examining them, that they have followed the same laws in the two periods, the exports remaining about stationary during the period of high duties, and the imports regularly falling off, and both immediately and regularly increasing throughout that of the reduction; with this difference, that Georgia has increased in both even more rapidly than Carolina, probably because of her increased population. But be that as it may, it clearly shows that the great increase of Carolina is not owing to the cause to which it is attempted to attribute it.

But as great as the impulse is which has been given to her export trade, I do not deny that South Carolina, like all the other states, is suffering under great pecuniary and commercial embarrassments; not, however, in consequence of reduction of duties, but in spite of it. Her suffering is from the same general causes already explained, with the addition of several peculiar to herself. Short crops from bad seasons for the last two years; a destructive fire in the heart of her commercial capital, which destroyed a large portion of that city; a heavy loss, estimated at about three millions of dollars, from the insolvency of the United States Bank of Pennsylvania; a large expenditure on a railroad project, which has been found impracticable; and the deranged state of the currency in the surrounding states, which has done much to embarrass her commerce. But, in the midst of all difficulties, she stands erect, with a sound currency and unimpeached credit, and as likely to ride out the storm as any other Gentlemen greatly mistake if they suppose she is so ignorant and stupid as to confound the cause of her difficulties with what has done so much to augment her means, and to enable her to bear up successfully under her difficulties.

state.

Having finished my remarks as far as they relate to these resolutions, 1 propose to advert, in conclusion, to a topic which has been drawn into this discussion by almost every one who has spoken on the opposite side. It would seem that there has sprung up, all at once, among our manufacturing friends, a great solicitude about us of the South, and our great staple. They look on our ruin as certain, unless something should be done to prevent it, and are ready to shed tears at the distress about to overwhelm us. They see in Hindostan a great and successful rival, about to drive us entirely out of the cotton market of the world; against which, according to their opinion, there is but one refuge, the home market, to be secured by high protective duties. To this panacea they resort for every disease that can afflict the body politic. But admit the danger: I ask, of what service would the home market be to us if we lose the foreign? We have already possession, substantially, of the home market. The whole amount of cotton goods imported for consumption in 1840 was but little more than six millions of dollars, about one eighth in value compared with that manufactured at home. Of the imported, by far the larger proportion are fine and light articles, which would require but a small quantity of the raw material to manufacture them; not more at the outside, I should suppose, than thirty thousand bales; so that, if every yard of cotton goods consumed in the country was

made at home, it would only make that addition to the quantity of cotton already consumed by our own manufactures. What, I ask, is to be done with the residue, which is five or six times greater, and now finds its market abroad? Do you suppose that we are such simpletons as to assent to high duties on all we consume-to be highly taxed in all that we eat, drink, or wear, for such paltry consideration? But suppose we should be simple enough to be gulled by so shallow a device, what security have we, if the East India cotton should prove to be cheaper than ours, as you allege it will, that the duty which would be laid on it might not be repealed, just as you have repealed that on indigo, raw hides, and many other articles, which might be supplied from our own soil? You must pardon me. I cannot take your word, after the ingenuity you have shown in construing away the Compromise Act. You must excuse me if I am a little suspicious and jealous after what I have witnessed. You must redeem the existing pledges before you ask me to accept of another.

But is the danger really so great as gentlemen represent? Are we in reality about to find a successful rival in the cultivation of cotton? If such be the fact-if the cultivation of cotton is to be lost, we shall have at least the poor consolation that we will not be the only sufferer. It would work a revolution in all our industrial pursuits. What would become of our foreign and domestic .commerce? What of our tonnage and navigation? What of our finances? What of the great internal exchanges of the country? I will not undertake to offer an opinion on the capacity of Hindostan to produce cotton. The region is large, and the soil and climate various. The population great, and wages low; but I must be permitted to doubt the success of the experiment of driving us out of the market, though backed and patronised by English capital and energy. Nor am I alone in doubting. I have taken from a late English paper (The Manchester Guardian) an article which speaks with great confidence that the experiment has proved a failure. I will thank the secretary to read it :

"CULTIVATION OF COTTON IN INDIA. Since the publication of the letter on this subject, addressed by the Bombay Chamber of Commerce to the Indian government, we have learned, through the medium of letters received by the last overland mail, that the efforts of the American planters who went to the westerly side of India have so far entirely failed. Indeed, so far as we can learn, there has been very great neglect and mismanagement on almost every point connected with their operations. It would seem as if the directors of the East India Company had thought it was quite enough to send them to India, and that all farther care about them was quite unnecessary; for, on their arrival in that country, they found that no direction respecting them had been given; and they were absolutely losing their time for two or three months, until instructions could be received from the government. Then, instead of letting them survey the country, and choose the situation and soil which appeared best adapted for the culture of cotton, when instructions were received, they were taken at once to Broach, and there placed under the direction of a gentleman who felt no interest in the matter, but who took upon him to choose soil and situation for them. He allotted them what was considered very good cotton land—that is, land of a strong and tenacious quality, exceedingly well adapted for the growth of the native cotton, but which former experiments had shown to be very unfavourable to the American plant, which has a large tap root, and thrives as badly in the stiff black soil in which the native cotton is grown, as carrots would thrive in a stiff clay in this country. As a matter of course, their crop of upland cotton has failed, with the exception of a very small patch which they had planted on a piece of light sandy soil, which the tap roots of the cotton were able to penetrate, and on which the plants were exceedingly luxuriant, and covered with large pods of cotton. From the strong black soil, it was not supposed that they would be able to pick a pound per acre of good cotton. So far, therefore, the cultivation of American cotton in Upper India has made no

progress; nor do we imagine that it is very likely to do so hereafter. Fron. all we have read upon the subject of Indian cotton cultivation, it seems to us that the best chance of success is to be found in a careful and discriminating growth of native varieties, and a careful gathering and cleaning of the produce. This was one of the objects towards which the attention of the American planters was to be directed, but hitherto we find very little has been done. At the date of the latest advices from Broach (the 24th of November), they were putting up a ginhouse for ginning native cotton; but, owing to the great number of obstacles necessarily experienced in such a country as India, they made very slow progress with their work, and it was feared that the growing crop would be entirely over before their gins were ready. Up to the date mentioned, no satisfactory experiments had been made as to the capability of the native cotton to stand ginning. Some trials were about to be made with a hand-gin, which, one would suppose, ought to have been the first step taken, before incurring a large expense in erecting machinery, which may prove useless. On the whole,

we fear the prospect of receiving any large supply of superior cotton from India is not at present very flattering. In order to overcome the difficulties presented by the habits of the people, and by other causes, great energy and perseverance on the part of the agents of the Indian government intrusted with the control of the experiments are absolutely necessary; and those qualities cannot be expected from parties who do not feel a strong interest in their success. Hitherto, we believe, the government agents haye lent but a cold and indifferent aid to the experiments; and it is, therefore, to be feared that, unless the matter should be put into other hands, there does not seem to be much chance of any good result from experiments from which so much was expected.”—Manchester Guardian.

In confirmation of the opinion of the writer of the article, that of intelligent individuals, well acquainted with the country, might be added, who speak with confidence that, taking price and quality into consideration, we have nothing serious to apprehend. We might, indeed, have something to fear during the continuance of the Chinese war. That country is the principal market for the cotton of Hindostan, and while it remains closed, the cotton intended for its market may be thrown in such quantities on the European as may materially depress the price. But the present relation between Great Britain and China cannot long continue. It can scarcely be doubted that the former will at last succeed in opening the market of China to the commerce of the world to a much greater extent than it has ever been heretofore; when, so far from competing with us, the cotton of Hindostan will not be sufficient to supply the demands of that great market.

But I am not ignorant that we must rely for holding the cotton market on our superior skill, industry, and capacity for producing the article. Nearly, if not altogether, one half of the solid contents of the globe is capable of producing cotton; and that, too, in the portion the most populous, and where labour is the cheapest. We may have rivals everywhere in a belt of 70 degrees at least, lying on each side of the equator, and extending around the globe. Not only the far East, but all Western Asia, quite to the 35th, or even the 40th degree of latitude, a large portion of Europe, almost all Africa, and a large portion of this continent, may be said to be a cotton-producing region. When the price of cotton rises high, a large portion of that immense region becomes our competitors in its production, which invariably results in a great fall of price, when a struggle follows for the market. In that struggle we have ever, heretofore, succeeded, and I have no fear, with fair play on the part of our own government, we will continue to be successful against the world. We have the elements of success within us. A favourable soil and climate, a plenty of cheap land, held in fee simple, without rent, tithes, or poor rates. But, above all, we have a cheap and efficient body of labourers, the best fed, clothed, trained, and Sss

provided for of any in the whole cotton-growing region, for whose labour we have paid in advance. I say paid for in advance, for our property in our slaves is but wages purchased in advance, including the support and supplies of the labourers, which is usually very liberal. With these advantages, we may bid defiance to Hindu or Egyptian labour, at its two or three cents a day. Ours being already paid for, is, as far as the question of competition is concerned, still cheaper, to say nothing of its superior efficiency, its better and more skilful direction, under the immediate eye of intelligent proprietors, of cheap, unencumbered land, favourable soil and climate, and greater facility and cheapness of transportation to the great markets of the world. But this is not all. We have another and great advantage. There is not a people on earth who can so well bear the curtailing of profits as the Southern planters, when out of debt. A plantation is a little community of itself, which, when hard pressed, can furnish within itself almost all of its supplies. Ours is a fine provision country, and, when needs be, can furnish most of its supplies of food and clothing from its own resources. In prosperous times, when the price of our staples is high, our labour is almost exclusively directed to their production; and then we freely and liberally part with their proceeds in exchange for horses, mules, cattle, hogs, and provisions of all description from the West, and clothing and all the products of the arts with the North and East; but when prices fall and pressure comes, we gradually retire on our own means, and draw our own supplies from within. With these great advantages, it is not wonderful that in all the great struggles that we have had for the cotton market (they have been many and great), we have ever come off successful. It is incident to that great staple article, cotton, the first in the whole circle of commerce, to be subject to extraordinary vibrations of price from the causes to which I have alluded. At one time prices are high and profits great, and at another low and the profits small. It can be permanently cultivated only by those who can best go through these great vibrations. We are willing to hold it on that condition, and feel confident we can, with justice from this government. We dread not the competition of Hindostan; but your unequal, unconstitutional, and oppressive legislation-that-legislation which pushes the expenditures of the government to the most extravagant extent, and which places the burden of supporting the government almost exclusively on the exchanges of our products with the rest of the world. Every dollar of tax, imposed on our exchanges in the shape of duties, impairs to that extent our capacity to meet the severe competition to which we are exposed; and nothing but a system of high protective duties, long continued, can prevent us from meeting it successfully. It is that which we have to fear. Let the planters avoid banks, keep out of debt, and have a sound currency and low duties, and they may bid defiance to competition, come from what quarter it may, and look forward with confidence to a prosperity greater than they have ever yet experienced.