Review of reviews and world's work . lti> that the cost of injuries to workmen mustcome on capital, to be passed on. doubtthrough higher prices, to society at large. Trouble in Cotton fumi-hed some spedFCottona uar news in tnL commercial andExports speculative markets of the |month. In the course of a heavy speculativemovement in the August option on cotton,the bear- had sold so much more of thecommodity than they could, at prevailingprices, purchase for delivery that a wildscramble for buying resulted in a price of 20cent- a pound on the Xew York Cottonchange, the highest figure known sinc
Review of reviews and world's work . lti> that the cost of injuries to workmen mustcome on capital, to be passed on. doubtthrough higher prices, to society at large. Trouble in Cotton fumi-hed some spedFCottona uar news in tnL commercial andExports speculative markets of the |month. In the course of a heavy speculativemovement in the August option on cotton,the bear- had sold so much more of thecommodity than they could, at prevailingprices, purchase for delivery that a wildscramble for buying resulted in a price of 20cent- a pound on the Xew York Cottonchange, the highest figure known since theReconstruction days of 1873. The specialnature of thi- exploit was clearly shown bythe purcha-e and -ale of October cottonon the very day of sky-high prices, at thenormal figure of 14 cents per pound. An-other curious impasse ha- come in the market-ing of the new cotton Crop, in the refusal of theEnglish banks to finance international cottonbills-of-lading unless these are American banks admit that serious frauds. i\i. ii THE PROGRESS OF THE WORLD 405 have been perpetrated by cotton operators transportation company has to compete with in bills-of-lading, but they refuse to guaran- the inclination and ability of the individual tee them unless the English financial houses to walk. A comparison of the census figures do the same thing. In the middle of Sep- of American cities for several decades proves tember it looked as if the delivery of the this conclusively. The important inference cotton crop to foreign spinners would have from the fact is, of course, that in great met- to be supported, for the first time, by the ropolitan centers like New York, the prob- American banks. This is no small financial lem of transportation becomes more, not less, feat, for the total exports of cotton are valued complicated with the increase of population, at $400,000,000, of which Liverpool alone Some of the salient features in this prob- takes about $250,000,000. It is predic
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Keywords: ., bookcentury1800, bookdecade1890, bookidreviewofrevi, bookyear1890
