§ Mr. Hindleywished to know of the President of the Board of Trade whether the Government had made any inquiries as to the importation into this country of 400 bales of American manufactured cotton goods, and whether the right hon. Gentleman had formed any opinion as to whether our manufacturers would be much affected by American competition in consequence of that assignment.
Mr. Gladstone:It was with reluctance that lie gave an opinion; but if the hon. Gentleman asked him for his opinion as an individual, he must say lie did not believe. my inference could be drawn from this importation that the relative position of our cotton manufacturers was at all changed. Importations front America were often made for the purpose of re-exportation. He believed that from the American ports a considerable quantity of goods had lately been exported for the east; but, at the same time, an infinitely greater quantity of British cottons had been exported from this country. He could not, therefore, say that he saw in these circumstances any grounds for the apprehensions that had been excited by them.
Mr. Thorneleystated, that he ha d s-terday received a letter from America to the following effect:—
Our Lowell factories have run off their heavy stocks of heavy goods at low prices for export; say 5¾to 6½ cents for 37 inch, and 6¾ cents for 30 inch drills; prime goods gone to Calcutta, China, Bombay, Manilla, and to the extent say of 35,000 to 40,000 bales;" (and added), that "the fact was, the Americans were successfully competing with us in the supply of cotton goods to China, India, and South America.