Cotton.

The effect on cotton is the one which most interests us.

The average prices for the year 1833 were, 11½ and 13½ cents, and for 1834, 11⅓ and 13¾. For 1835 the prices were:

This was at a time when the supply was increasing both from this country and from India, but it was now certain that cotton was to be the great American staple until the abolition of corn laws in Europe. Even at this time there was a duty of 3 cents per Ib. on cotton, levied in 1790 to secure the “home market.”

It therefore appeared that the Southern cities were to see great prosperity as cotton markets, and at Mobile especially the speculation in real estate was great. To borrow Grosvenor's figures once more, real estate in Mobile was assessed as follows:

In 1848, with 1,217 polls, the assessment was just under nine millions. The cotton culture does not require nor build up great cities.