; news of failures stream in from the United States, Canada, and the Eastern markets; great prosperity; crisis; improvement; great prosperity, increase in factories; Zenith of the English cotton trade, the Indian, Australian, and other markets so glutted with goods that even in they had not absorbed the whole lot; the French Treaty of Commerce, enormous growth of factories and machinery; prosperity continues for a time, reaction, the American Civil War, cotton famine: to complete collapse.