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To: wideawake

Between 1850-1860 the price of cotton had run up to previously undreamed-of levels

Do you have a source to back that 'fact' up?

91 posted on 05/27/2008 10:25:28 PM PDT by Michael.SF. ("They're not Americans. They're liberals! "-- Ann Coulter, May 15, 2008)

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To: Michael.SF.

Do you have a source to back that 'fact' up?

Indeed I do. Allow me to consult an offline source, and I will cite it for you presently.

92 posted on 05/28/2008 4:35:37 AM PDT by wideawake (Why is it that those who call themselves Constitutionalists know the least about the Constitution?)

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To: Michael.SF.

The source is Amasa Walker, one of the founders of American macroeconomics, who did extensive studies on American exports.

In his book The Science Of Wealth his analysis of customs statistics reveals that US cotton exports in 1850 yielded $71MM in revenue and US cotton exports in 1860 yielded $191MM in revenue.

During the same period, bale production rose from 2.1M to 4.7M.

So prices of cotton increased more than 30% even while production increased by 170% - a pretty incredible growth in value.

93 posted on 05/28/2008 5:25:20 AM PDT by wideawake (Why is it that those who call themselves Constitutionalists know the least about the Constitution?)

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