How did the increased production of cotton impact international trade? A. Widespread speculation on the cotton market caused frequent transatlantic financial crises. B. The American economy was more self-sufficient and thus closed itself off to international trade. C. Large amounts of raw cotton and fabric were sent to England to be processed in the textile industry. D. European nations moved away from using cotton textiles as a way of protecting their national trades.
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Here is the passage:
Excerpt from Harris Dickson's The Story of King Cotton
“Device” is too small a word, as Whitney’s gin proved itself a miraculous factor in building up the South. It created a new civilization, a new empire based on cotton.
Before that period the trend of agriculture had begun to shift from immense acreages in tobacco as a single crop, George Washington himself being of the original apostles of diversified farming. Pioneers beyond the Alleghany Mountains were compelled by necessity to produce everything needed for subsistence of man and beast before they could think of a money crop. Then along came a practical machine that separated seed from the lint so easily as to turn back a tide that flowed toward grain and cattle. Thousands of home seekers migrated to our great Southwest, King cotton’s realm today, and within a few years had almost monopolized the business of supplying humanity with staple.
When our bewigged forefathers in three-cornered hats were framing the Constitution, fields of the world produced only a million bales, of which North America grew about 3000 and exported 250. By 1825, with mechanical ginning, our yield jumped to over half a million bales; and in 1850 passed the two million mark.
How did the increased production of cotton impact international trade?
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A.
Widespread speculation on the cotton market caused frequent transatlantic financial crises.
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B.
The American economy was more self-sufficient and thus closed itself off to international trade.
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C.
Large amounts of raw cotton and fabric were sent to England to be processed in the textile industry.
-
D.
European nations moved away from using cotton textiles as a way of protecting their national trades.
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