A 1920 article from the Economic Journal on how the American cotton crop is financed and sold. It covers world and U.S. production figures, British cotton imports and exports, and credit from farmer to storekeeper, factor, gin receipts, bills of lading and banks. It also treats sterling versus dollar pricing and exchange risk, the cotton futures market and hedging, financing in England through acceptances, and postwar economic conditions. It is economic and banking history with no textile technique content.