If subject to no disturbing influence,
such as war, which would force the world to look elsewhere for its
supply, and thus unnaturally force production elsewhere, the growth of
this competition will probably be slow. Another War of 1812, or any
long-continued civil convulsions, would force England to look to other
sources of supply, and, thus forcing production, would probably be the
death-blow of the monopoly. Apart from all disturbing influences arising
from the rashness of his own lieges, or other causes, the reign of King
Cotton at present prices may be expected to continue some ten years
longer. For so long, then, this disturbing influence may be looked for
in American politics; and then we may hope that this tremendous material
influence, become subject, like others, to the laws of trade and
competition, will cease to threaten our liberties by silently sapping
their very foundation. As in the course of years competition gradually
increases, the effect of this competition on the South will probably be
most beneficial.
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