How Cotton Industry Contributes in the US Economy Essay

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Around the globe, cotton belongs to the one of the most important crops. Approximately, 130 nations manufactured cotton during 2000, and it is projected that the crop was planted on 2.5 percent of the globe’s arable land zone, enabling it to become one of the most crucial in terms of land use after food grains and soybeans. In developing nations, like the United States, it accounts for approximately three percent of the total crop area. Cotton is manufactured for different reasons such as meeting people's basic wants and needs, distributing to achieve foreign exchange, or manufacturing textiles for exports. Cotton is a good cash resource for millions of farmers. Moreover, around 70 countries compete in producing cotton, and the top …show more content…
The U.S generated 73,000 bundles of cotton in the year 1800. By 1820, cotton accounted for nearly 39% of all American trades. By 1840, cotton accounted for about 52% of U.S trades. By 1860, cotton accounted for 58% of all American exports and 75% of the globe’s total supply of cotton. After 1800 it became the nation’s most fundamental export crop and swiftly became the key to American wealth. Cotton powered the whole American market economy throughout 1820-1860. Southern planters depended on selling the cotton and employed the earnings to buy commodities from the West. A body of laborers were demanded in World War II which lead to lack in laborers in the U.S. In order to solve laborers lack, Congress allowed Mexican laborers to get access to the United States and work for a short term. Moreover, the U.S. labor market was weak and farmers were not happy about it, but slavery helped the U.S. in producing cotton and they protected the farmers from the labor market. Slaves were available when in demand, they worked harder , and they couldn’t complain. As a result of slavery benefits, the United States surpass Britain and China in cotton production. According to John C. Calhoun, Slavery was “a good - a positive good” that was both gainful as well as politically and socially sound. Calhoun’s dispute sustained that in a free labor system, labor is a product whose price is regulated by the laws of the market. In such scheme, slavery was

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