5 FEBRUARY 1870, Page 2

Sir Thomas Bazley, speaking on Monday to the Manchester Chamber

of Commerce, made a statement which will be warmly received in India. He said that, in his opinion, looking to the extent of the demand and the position of affairs in America, the "normal price" of cotton for some years to come would be is. a pound. That is good news for Bombay, though not for Lan- cashire. As long as that price is maintained, India can always compete for her share of the cotton trade, and as the ryots hold- ing cotton-laud do not pay increased rents, they will rapidly grow rich. Even as it is, a large portion of all the extra price we have been paying has gone to them, has paid off their mortgages, and raised them into the position of prosperous cultivators. In Eng- land more than half their new wealth would have gone to the landlord in increased rents ; but they enjoy fixity of tenure, with revaluations only once in thirty years.