Spinners could easily run over to Liverpool and buy their cotton from the large stocks displayed at that port.
The horses of Vermont have been famous in the development of American racing stocks; the Morgan stock is best known, and other famous Vermont strains are Messenger and Black Hawk.
More indirect methods, such as the grafting of less resistant scions on more vigorous stocks, of raising special late or early varieties by crossing or selection, and so on, have also met with success; but it must be understood that resistant in such cases usually means that some peculiarity of quick growth, early ripening or other life-feature in the plant is for the time being taken advantage of.
They must watch demand, be able to form reasonable anticipations of its move ments, and at the same time know the existing stocks of cotton, the sales taking place from day to day, and the best forecasts of the coming supplies.
To,the above taxes must be added the tax on Stock Exchange transactions and the tax of 4% on dividends from stocks and shares (other than state loans).