But what is our position? for you who are subscribing your money here have a right to know. I believe the quantity of cotton in the United States is at this moment much less than many people here believe, and that it is in no condition to be forwarded and exported. And I suspect that it is far more probable than otherwise, notwithstanding some of the strange theories of my honourable Colleague, that there never will again be in America a crop of cotton grown by slave labour. You will understand--I hope so, at least--that I am not undertaking the office of prophet, I am not predicting; I know that everything which is not absolutely impossible may happen, and therefore things may happen wholly different to the course which appears to me to be likely. But I say, taking the facts as they are before us--with that most limited vision which is given to mortals--the high probability is that there will never be another considerable crop, or one available for our manufactories, from slave labour in the United States. We read the American papers, or the quotations from them in our own papers, but I believe we can form no adequate conception of the disorganization and chaos that now prevail throughout a great portion of the Southern States. It is natural to a state of war under the circumstances of society in that region. But then we may be asked, What are our sources of supply, putting aside India? There is the colony of Queensland, where enthusiastic persons tell you cotton can be grown worth 3_s_. a pound. True enough; but when labour is probably worth 10_s_. a-day, I am not sure you are likely to get any large supply of that material we so much want, at a rate so cheap that we shall be likely to use it. Africa is pointed to by a very zealous friend of mine; but Africa is a land of savages, and with its climate so much against European constitutions, I should not entertain the hope that any great relief at any early period can be had from that continent. Egypt will send us 30,000 or 40,000 bales more than last year; in all probability Syria and Brazil, with these high prices, will increase their production to some considerable extent; but I believe there is no country at present from which you can derive any very large supply, except you can get it from your own dependencies in India. Now if there be no more cotton to be grown for two, or three, or four years in America, for our supply, we shall require, considering the smallness of the bales and the loss in working up the cotton--we shall require nearly 6,000,000 of additional bales to be supplied from some source.