The Fabric of Civilization: A Short Survey of the Cotton Industry in the United States — John Shaqi
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
The war served to disarrange the system of cotton cloth distribution of
the whole world. It is now a commonplace to say that the United States,
by the cutting off of the usual sources of supply, succeeded for the
first time in entering in force markets which hitherto had been closed.
It would probably be truer to say that foreign buyers, finding it
impossible to secure their customary supply from their regular sources,
came to the United States and asked American manufacturers to supply
their imperative wants.
Just what this meant is found in the statement that while in 1913 our
total exports of cotton goods amounted to about 445,000,000 yards, in
1917 the figure was about 690,000,000 yards, an increase of fifty-five
per cent. The increase, moreover, has been in the colored cottons, the
uncolored cloths showing an actual decrease.
The United Kingdom, during 1917, exported nearly 5,000,000,000 yards of
cloth, so there is no immediate prospect that the United States will be a
dangerous competitor for that country, except in a few limited lines and
in a few markets. The chief gain to the American cotton industry brought
by the war was the opportunity it gave merchants to introduce their goods
abroad at a time when loss was next to impossible. Operating at an
assured profit they were able to learn the markets without the long and
discouraging fight which would have been necessary had the competitive
power of the other nations been at full force. If, as seems likely, the
economic forces which projected the United States so suddenly and
dramatically into the world's markets shall continue to operate, then the
future will see a further development of our sales.
Future of Foreign Sales
And Probable Markets
Our best and most permanent markets are probably to be found in such
countries as Cuba, Mexico, the Philippines, Central and South America,
and, to a certain extent, Canada and Australia, and parts of Asia and
Africa. To be sure, competition will have to be met both from European
countries and from Japan, whose development in the cotton industry in
recent years has been nothing short of phenomenal. She has practically
doubled the number of her spindles in the last ten years, and her
competition has already been felt, for instance, in China, where American
gray goods have been practically eliminated from the market. Other
growing markets for Japanese cotton goods are South Africa, Australia,
India, and the west coast of South America.
Public-domain text, read in full here on John Shaqi.
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