Global economy plays a major role in our lives, and everything in this world is interconnected, when it comes to finance. It can have a bigger impact on businesses and our lives than we may think. A great example of a commodity that our nation benefits from most and has greatly benefitted from in the past is cotton. Cotton was one of the world’s first luxury commodities as well as one of the first mass consumer commodities. The cotton industry has been affecting our global economy for several years. The cotton industry was typically the main generator of finance in the South, and had a huge effect on slavery. It’s production connected the economy of the cotton plantation to the Northern Banking industry, the economy of Great Britain, and several
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is one of the more advanced countries in this world, we don’t use our hands to harvest cotton here. Instead, the crops are harvested by machines. Cotton picking machines have spindles that twist the cotton from the plants stem, in order to collect the cotton and separate them from the plants. In about 1787 cotton was a plant that was barely grown in the U.S. , but with time the South became known as the “Cotton Kingdom.” A slave business was started by the cotton gin about ten years after the cotton gin was put to use. The value of crops then went from $150,000 to more than 8 million. In the 1800’s Americas cotton production had raised from 156,000 bales to more than 4,000,000 bales. This is when the cotton industry took off to new heights making it better than …show more content…
The cotton operating season lasts for less than six months following harvesting. In todays world the cotton industry has improved their ways of ginning because now there is an increase in using renewable energy, lower greenhouse gas emissions. and gins are being recycled and reused. Other than that there is an increase in farmer’s incomes which is saving many lives. (Cargill 5). Farmers are finally able to send their kids to school, have healthcare, and other resources they need in order to raise their families. What many of us may not know is that since cotton is a highly global commodity, when stocks increase more cotton is grown than it is consumed. Also, as we can see happening with most commodities, cotton is traded for dollars, and there is a relationship between the value of a dollar and the prices of cotton. When the dollar value goes down or decreases then cotton prices tend to rise whereas when the dollar value is going up, the cost of cotton decreases. At one point in history southern plantation owners barely had money to invest and were usually in debt to the bankers in the North. The northern and southern states were developing extremely differently. The South would send its cotton to factories in the North and across the Atlantic Ocean, whereas the Northerners would invest in tools, and machinery to better their industry. Due to this reason several Southerners migrated to the
is one of the more advanced countries in this world, we don’t use our hands to harvest cotton here. Instead, the crops are harvested by machines. Cotton picking machines have spindles that twist the cotton from the plants stem, in order to collect the cotton and separate them from the plants. In about 1787 cotton was a plant that was barely grown in the U.S. , but with time the South became known as the “Cotton Kingdom.” A slave business was started by the cotton gin about ten years after the cotton gin was put to use. The value of crops then went from $150,000 to more than 8 million. In the 1800’s Americas cotton production had raised from 156,000 bales to more than 4,000,000 bales. This is when the cotton industry took off to new heights making it better than …show more content…
The cotton operating season lasts for less than six months following harvesting. In todays world the cotton industry has improved their ways of ginning because now there is an increase in using renewable energy, lower greenhouse gas emissions. and gins are being recycled and reused. Other than that there is an increase in farmer’s incomes which is saving many lives. (Cargill 5). Farmers are finally able to send their kids to school, have healthcare, and other resources they need in order to raise their families. What many of us may not know is that since cotton is a highly global commodity, when stocks increase more cotton is grown than it is consumed. Also, as we can see happening with most commodities, cotton is traded for dollars, and there is a relationship between the value of a dollar and the prices of cotton. When the dollar value goes down or decreases then cotton prices tend to rise whereas when the dollar value is going up, the cost of cotton decreases. At one point in history southern plantation owners barely had money to invest and were usually in debt to the bankers in the North. The northern and southern states were developing extremely differently. The South would send its cotton to factories in the North and across the Atlantic Ocean, whereas the Northerners would invest in tools, and machinery to better their industry. Due to this reason several Southerners migrated to the