Summary

1911 Encyclopædia Britannica, Volume 28… (1911)

The partners intended to establish an absolute monopoly and to charge a toll of one-third of the cotton or to buy the whole crop. They were unable to supply the demand for gins, and country blacksmiths constructed many machines. A patent, later annulled, was granted (May 12, 1796) to Hogden Holmes for a gin which substituted circular saws for the spikes. Whitney spent much time and money prosecuting infringements of his patent, and in 1807 its validity was finally settled. The financial returns in Georgia cannot be ascertained.
Source: Wikisource

Get perspective with Kwize: daily news enlightened by great literature