3-1 the COTTON TRADE IN ENGLAND

export. Therefore England stood, in the first decades of thecentury, in a social crisis of the most intricate nature, the blamefor which was generally laid to the factory system. This is thereason for the attacks from all sides on its standard-bearers, the“bleeding mill lords." The workers were at one in the opinionthat it was “ King Steam ” who had seduced them from the “ oldmerry England.” They had sworn revenge upon him, Theyconsidered him the great power of the upheaval which had de-stroyed all that had been; but under his iron rule the peoplewere driven more and more to despair ; they would at last destroyhim, as well as all Governments in the world (33). Not muchdifferent was the opinion in the aristocratic seats of the South,which were still “undeiiled by the breath of industry.” Thefactory system was as opposed to Christianity as darkness tolight; all social as well as economical evils were laid down to itsaccount (34), especially that “even the Corn Laws were inveighedagainst.”

What was the reply of Manchester manufacturers to suchattacks from right and left! That the industrial system was not-to blame for the distress in the country, but merely the circum-stance that it was only half introduced. On the foundation offree property and contract, on competition and barter, it haddeveloped itself; developed, further, on these foundations, theeconomical and technical peculiarities of centralised industry,and freed it from the pressure of an agrarian, interested order oftilings. Without examining here the correctness of this point ofview, we next ask: How did both occur?

IT. The Cotton Industry under the Influence, of International Competition.

The unprecedented advances of the industry came to a stand-still in the “thirties”—at least according to the idea of theemployers, whose profits during that period went down consider-ably. The long-lasting business crises of the “thirties” and ofthe beginning of the “forties” show, alongside of a series ofbad harvests, peculiar economical conditions. By very detailed

33. Committee on Handloom Weavers of 1834 (5,588-9).

34. Committee on Handloom Weavers of 1834 (6,8911.