The Fabric of Civilization: A Short Survey of the Cotton Industry in the United StatesGuaranty Trust Company of New York
History
The Fabric of Civilization: A Short Survey of the Cotton Industry in the United States
Guaranty Trust Company of New York
Cotton manufacture -- United States
(c) information as to the newest mill practice,
which it is ready to provide for its
clients and others.
(d) readiness to assist customers in the expansion
of their business either by financing
new mill construction or by providing
sales representatives in other countries.
(e) maintenance offices abroad, either for the
buying or selling of textiles or equipment,
or raw materials, or for the complete and
direct financing of such transactions.
CHAPTER VI
American Cloth in Foreign Markets
We have seen that the American cotton grower supplies more than half of
the world's demand for raw cotton. The cotton manufacturer in the United
States is in no such position. This is not to say that American cotton
goods are not exported in very considerable amounts. From the inception
of the industry in this country varying percentages of the total product
have been sent abroad. The following table, taken from the United States
Statistical Abstract (1910) shows the average annual exports of cotton
goods for the five year periods named, expressed in millions of dollars:
_Uncolored _Colored
_Total_ Cloth_ Cloth_ _Other_
1856-60 $7.5 $2.4 $2.3 $2.8
1861-65 3.7 .4 .9 2.4
1866-70 4.1 .9 .3 2.8
1871-75 3.1 1.7 .6 .7
1876-80 10.0 6.1 2.6 1.2
1881-85 13.0 8.0 2.9 2.1
1886-90 12.4 7.4 3.2 1.6
1891-95 13.3 7.7 3.0 2.5
1896-1900 20.4 11.6 4.4 4.3
1901-05 31.3 17.2 7.0 7.0
1906-10 35.1 16.8 7.2 11.0
The irregularity of the export trade, as shown by these figures, has been
explained on several grounds, the chief factors being, apparently, the
fluctuations in the prosperity and consequently in the buying power of
the home market, and the pressure upon the home market exerted by the
rapid growth of cotton manufacturing in the South.
The normal position of the United States as an exporter of cotton goods
is shown by the following table, which gives the exports of the chief
manufacturing countries in the year before the war (the figures for 1915
are also given because they show the changes which had already begun):
1913 1915
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