THE RE-OPENING OF THE MARKET.

After the armistice, the possibility presented itself again, of

supplying the German cotton industry with raw material. The government,

however, made certain stipulations under which the import might be

carried on, but no hymn of praise can be sung about them.

Notwithstanding all difficulties, cotton found its way into the

country, and when, finally, all government measures were cancelled, the

legitimate business was restarted. All round the Bremen market,

competition had grown. Rotterdam made great exertions to push Bremen

aside, even Copenhagen made similar endeavours. A few American firms,

which were hostile to Germany, did their best to circumvent Bremen.

These efforts, however, were not crowned with success, Bremen regained

its position. It has been shown that the natural development through

many years, cannot be killed and artificially replaced. The manifold

relations, started in peace-time, of personal or business character,

showed their value. The economic life flows through a great network of

channels, should these be artificially closed, they will re-open again

of their own accord, as soon as the barriers have been removed. During

the war, the German cotton industry either stood still, or worked only

with a small percentage of its machinery. The government had husbanded

the supply of cotton most carefully, so that, after an unexpectedly

long war, a little was still left over. The mills which were running,

displayed great assiduity in procuring and utilizing substitutes for

cotton. Paper, wood, cellulose, reed and nettle fibres, and other

materials were tried, some were manufactured quite extensively. During

the war they did good service, but in normal times, they cannot usurp

the place of cotton. After surmounting many difficulties, the German

cotton industry is once more in full swing, and with it, Bremen is

again the important continental cotton market. The surrounding

countries buy in Bremen as of old, though some outlets are still

closed, owing to political and economic reasons.

During the last three years, before the war, the import of North

American cotton to Bremen averaged 2 500 000 bales, during the season

1920/21, it reached 1 200 000 bales, and in 1921/22, 1 500 000 bales,

the decline, against the former years, is caused, partly, by the

disappearance of some outlets, and partly, by the shorter working day.

Bremen Cotton Exchange, 1872/1922 · 第 20 / 27 题