A great deal has been said of late in regard
to our cotton policy. A correspondent of the Times recommends that in order to clarify the situation and strengthen our own position we should, to begin with, declare cotton unconditionally contraband, and next that we should pur- chase that part of the cotton crop which hitherto has gone to Germany and store it in America or elsewhere till the war is over. Further, we should calculate, as could easily be done, what amount of cotton was taken by the neutral States for their own consumption, and allow that amount of cotton only to enter their ports. By this means those interested in cotton in the United States would be preserved from the ruin which they now fear will undertake them if we, in effect, close all markets but our own to cotton. In fact, we should make a market for the special product of the South. At the same time the neutral Powers would not have to close their cotton factories. Our own inclination is distinctly towards this policy. Its cost is not prohibitive, and it would do a great deal to prevent friction, not only with America, but with the smaller neutral States..
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