COLTI V AZIONE DEL COTONE
   243
   tbat will come to pass, and ali the changes which t this great branch of cultivation will pass through in the United States. The present war cannot fail to leave beliind it deep traces. And it would suffìce to bear in mind the dose connection existing between slavery and the protection of cotton in America, in order to perceive on how uncertain and tottering a foundation this great species of cultivation rests in that country. Eve-ryone knows that, in the United States, the cultivation of cotton is carried 011 by slaves. So long as the war in America lasts there will be (110 matter in what country the cultivation of cotton is carried on) no kind of ero]) in the world capable of entering into competition with the cotton erop. At the present prices, as we shall perceive a little further on, a hectare of land employed in raising cotton in Italy would yield more than 2 600 lire, or Lst. 104 sterling. But we must by no means base our calculations on these exceptional conditions, although they certainly ought, in some degree, to be taken into account. It is necessary to inquire what proportions the cotton cultivation will assume 011 the restoration of peace in the United States, and what will be the competition createci by that nation, with respect to other nations, in the markets of Europe,
   It is certain that, amongst ali the other na- Theexpedien-,. i -i. cyofgrowmg
   tions capable of producing cotton, tliere is not a cl0tton od a
   single one now in more favourable condition to scale iu
   do so than Italy, as we shall presently find. But,
   supposing peace to be re-established in America,
   would Italy stili be in a position to continue
   carryng on, at a profit, an extensive cultivation
   of cotton. It is from answer to be given to this
   question that we must chiefly deduce the expe-
   diency of eur directing our attention, with more
   P* less alacrity, to this new branch of industry.