may be thus stated: If the radical policy is carried out, they will degenerate and become extinct: if union measures prevail, just the very reverse of the radical policy, they will live, flourish, increase, and contribute by their labor to the wealth of the country.

In this connection we present the following remarks of Hon. J. W. Clapp, of Mississippi, made at the close of a valedictory address to the Trustees of the University of Mississippi, last July:

"The plan which would seem to be dictated alike by policy and true philanthropy is, that the two races here in the South should be left, without the surveillance and intermeddling of a third party, to work out together their respective destinies, and for each one to adapt itself to that level where the great law of moral gravitation will sooner or later inevitably place it. This plan, it is conceded, is, like every thing human, liable to abuse, and may give rise to instances of hardship and injustice; but if the two races are to live together, it is the only feasible mode by which collision and conflict can be avoided, the capacity of the negro for labor utilized, and he be rendered a comparatively respectable member of the community.

"But as the probability is that the policy adopted by the law-making power at Washington will be adhered to, by which the negro will inevitably become more and more unreliable and inefficient as a laborer, prudence, if not an imperative necessity, require that we should, in view of this contingency, make systematic and persevering efforts to fill up the channels of industry from other sources, and with those of our own color who can be assimilated and identified with us as a homogeneous element both of prosperity and power; treating the negro in the mean time with humanity and kindness, encouraging his mental and

moral culture, and extending to him without stint or grudging all the rights to which he is properly entitled in his new condition, but at the same time preserving with jealous pertinacity a social barrier between him and us that shall be impassable and perpetual, for upon this depends our preservation as a people from a fate more deplorable than extermination itself."

We sincerely hope that the apprehension expressed by the distinguished speaker will not be realized, and that the thunder is now preparing which will break in terrible fury on the heads of the traitors who have been trying to establish a despotism upon the ruins of the republic.

Let us hope for the best, labor and wait; and the time, we trust, will soon come when our labor will not be in vain.

CHAPTER VI.

PRODUCTION AND EXPORTS OF COTTON-REMARKS ON THE GOVERNMENT TAX.

SECTION I.

PRODUCTION AND EXPORTS OF COTTON-STATISTICS-GREAT DEMAND FOR AMERICAN COTTON IN ALL THE MARKETS OF THE WORLD.

We propose now to notice the production of cotton in the Southern States for sixty years of the present century; to show the exports to all the great foreign marts for the four years beginning 1854 and closing 1857, as a probable average annual amount for twenty years preceding 1861; the shipments from Southern ports for one year (September 1, 1857, to September 1, 1858), as a fair sample of annual shipments for the same period; and lastly, the importations into England for six years, 1848 to 1853, from the United States and other cotton countries of the world.

The following table shows the quantity of cotton produced in the cotton States of the South, with the value of the same, from the year 1801 to the year 1860, inclusive:

The following table presents the quantities of cotton exported from the United States to the principal commercial countries for the years named:

The following table shows the shipments from Southern ports for the year September 1, 1857, to August 31, 1858:

The quantity absorbed by the home market in 1856 was only about one-fifth of the entire crop-770,739 bales of 400 lbs. each, or 308,295,600 lbs. This amount, worth about $30,000,000, was, by a moderate estimate, made to produce about five times the sum by the industry applied to its manufacture in the New England and Southern factories.

The following table shows the importations into England in the years named from the United States and the other cotton countries of the world. The quantity is stated in packages, each package containing 300 lbs.

Mr. J. B. Gribble, of New Orleans, assuming that the average weight of packages of raw cotton to be, from the