has been smaller in 1855 than in either of the preceding years, and the
supply from Egypt, though greater than in 1854, is less than in 1853."
[From India, the principal hope of increased supplies, the imports for
1855, in the first four months of the year, were less by 47,960,000 lbs.
than in 1854, and less by 64,000,000 lbs. than in 1853.[34]] "We may
infer, therefore, that the rise in price hitherto, has not been
sufficient to bring increased supplies from India and other places; but
these will, no doubt, come when it is seen that the rise will probably
be permanent in consequence of the enlarged consumption, and the
comparative deficiency in the crop of the United States."

After noticing the increasing exports of raw cotton from both England
and the United States to France and the other countries of the
Continent, from which it is inferred that the consumption is increasing
in Europe, generally, as well as in Great Britain, the _Economist_
proceeds to remark:

"A rapidly increasing consumption of cotton in Europe has not been met
by an equally rapidly increasing supply, and the present relative
condition of the supply to the demand seems to justify an advance of
price, unless a greatly diminished consumption can be brought about.
What supplies may yet be obtained from India, the Brazils, Egypt, etc.,
we know not; but, judging from the imports of the three last years, they
are not likely to supply the great deficiency in the stocks just
noticed. A decrease in consumption, which is recommended, can only be
accomplished by the state of the market, not by the will of individual
spinners; for if some lessen their consumption of the raw material while
the demand of the market is for more cloth, it will be supplied by
others, either here or abroad; and the only real solution of the
difficulty or means of lowering the price, is an increased supply. This
points to other exertions than those which have been latterly directed
to the production of fibrous materials to be converted directly into
paper. Exertions ought rather to be directed to the production of
fibrous materials which shall be used for textile fabrics, and so much
larger supplies of rags--the cheapest and best material for making paper
will be obtained. But theoretical production, and the schemers who
propose it, not guided by the market demands, are generally erroneous,
and what we now require is more and cheaper material for clothing as the
means of getting