since 1788, when it first arrived in bremen on emigrant ships returning from north america, cotton has been an important commodity for the city. in 1894, over a million bales of cotton were unloaded, reaching a maximum of 2.6 million bales in 1927. in 1872, the committee for the cotton trade ("komité für den baumwollhandel") was created to promote the interests of those involved in the cotton market. banks, shipping companies, cotton mills and insurance companies later became members too. in 1900, work began on the construction of the cotton exchange building in the centre of bremen. the exchange allowed the trading of futures in 1914. but the first world war and the ensuing inflation prevented their re-establishment until 1926.