With reference to the cotton boom in India during the American Civil War, consider the following statements:
1. Cotton exports from India increased significantly to meet British industrial demand.
2. Peasants in the Bombay Deccan region benefited greatly from the high prices of cotton.
3. The boom in cotton production led to widespread prosperity for all cotton producers in India.
4. The collapse of the cotton boom after the Civil War caused severe financial distress for many Indian farmers.
1
Only 1, 2 and 3
2
Only 2 and 4
3
Only 1, 3 and 4
4
All of the above