AND ON THE CONTINENT.

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to the Enquete (Protok., p. .189), 11 per cent. more. Rut there-with the (termini is now met with all the disadvantages causedby the lack of division of labour. Instead of Inlying every eightdays, he must buy months ahead. Resides the loss of interest,he is entangled in the variations of the cotton market, and isforced to speculation. Much too often is he the prey of badshipments, not according to sample (29). How unfavourable isthe position of the individual German spinner can be concludedby the fact that the Cotton Ruying Company, representing severalmillions of spindles, at present does not yet venture to do whatthe individual German spinner is forced to do'—to buy direct inthe producing land—so great do the advantages of the Liverpoolmarket (where Egyptian cotton is mostly cheaper than in Mar-seilles) appear to be to the Company (30).

Some of these disadvantages have been avoided by the forma-tion of a cotton market at firemen. The same came into exist-ence by reason of an agreement, between the associations ofGerman spinning mill proprietors and firemen importers in 188(1.

Although it was recognised that the Bremen cotton marketpossessed splendid regulations for the business in futures, alsothat classification and arbitration could be depended upon andwere impartial, four representatives of the German cottonspinners were placed upon the ectton market committee.German spinners have therewith understood how to curtail thedangers of conjuncture losses to> the slightest degree. Thedevelopment of this Bremen market is so much the more hopefulwhen we consider that to-day almost 12 million spindles belong toits natural territory, viz., the German , Swiss, Austrian, Polish,and (partly) Belgian mills.

The disadvantages of division are not slighter with respect tothe mill itself. Whilst in England the spinner and weaver inmany cases only produce one or two specialties, the German em-ployer has hundreds of patterns. Therefore he is compelled tofrequently alter his machines and to accustom his workmen tonew work, which not only means less total production and more

29. Compare Report of the “ Enquetekommission, ” p. 22; “ Protokolle,”pp. 3G, 28G, and others.

30. Concerning the disadvantages of buying in the producing country,“ Protokolle,” p. 358. Concerning the position of the Liverpool market tothe Continental markets, compare Jannasch, p. GO.

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