The Express.
London, England, 1863-09-02 00:00:00

MARXIST'S.

COTTON GOODS.
MANCRESTIM, SOT. 1.

We have bad • very strong market for yarn, but in
consequence of the higher prices spinners are sakusg there
has not been much business done. There has been a good
inquiry for water twist for China, but the pries, requited
have prevented merchants from operating. Cop yarns are
steady, but there has not been much business effected.
Prices are unchanged since last week, but spinners are •
little easier to deal with. They are lees disposed to demand
extravagant rates than they were ruder the pressure and
excitement prevailing • few days ago. Buyers have evi-
dently supplied the most pressing of their wants, and are
disposed to pause a little, butstill there is a busieste dung,
it is reported, quite equal to what spineses are is a p_ositne
to meet A private telegram from Hong Kong to July Mutates
that there was an increase of business in both yank sad
cloth at higher prices, sod to this report is ascribed the de-
mand useetioeed above for suttee twist for China. For
cloths, the settee demand reported as existing last Tuesday.
sad extending to all descriptions of goods, continued all the
week. To-day we have less animauon, and there is less
doing in most descriptions of cloth, but it is nudely owing
to the higher prices asked by manufacturers, who are is a
position, from the extensive engagements they have already
entered into, to command better terms than they could a
few weeks ago. On the whole price. may be quoted highee
than last week, for although the advance checks operatiose
to some extent, there is still enough business offering to
keep the market strong. Tb contracts entered into during
the Wt three weeks will keep manufacturers busy
for some time to come, and the quantities of
now in course of delivery are somewhat lugs.
foods
report of this market attention was called to
the error committed by political economists in antipodes
that, because the price of cotton goods was doubled througha
scarcity of cotton, the worlds consumption would fall
off on•-half. Such statements were made at public meet-
ings, and there is little doubt that,all other tbisp being the
same, the doctrine would not be far from the truth. Bat
it has been found that other things are not the same, for
inasmuch as twenty millions sterling extra have bees sent to
link' for cotton and seven millions to Egypt, our comomers
in those countries are so much richer that they are likely to
hay considerably more of our manufactures. The trade
with India is evidently undergoing considerable 01;40400.
and Asti% is the largest export market we have, the fact ia
use of importance. The leading market, however, for
cotton goods ia what is called the home trade, and is re-
lation to that the mistake was in supposing that bee
cause cotton bad trebled in price and plain cotton
fabrics had doubled, the price would be proportionably
increased to the consumer. In thirtiop and some other
kinds of calicoes this is the case, but in • large proportion
of our manufactures there is a difference. For ingline.• in
such goods as checks the difference in ultimate cost to the
consumer is sot so considerably ',creased. Checks which
formerly sold at 40. to 6d. per yard can dill be sold at lad.
or 60. to 70. or Bd. The reason is that whilst tattoo has
greatly increased in price, labour has uadargose little or no
change, and the more labour hi expended upon preparing or
fluishiog cloth for the market the less is the ultimate price
to the consumer affected by the met of the saw material.
To take au extreme case, a yard of muslin, perhaps, ooe-
tains in some instances little more than a pennyworth of
cotton, but with the Most bestowed upon it in designing,
printing, and finishing it may he worth a shilling or upwards
per yard to the consumer. These tads are refmred to for
the pupae of showing that in estimating the future of the
@Woe trade, some modification is aeoemary of the extreme
views takes early in the present crisis by those who were
disposed be a rather gloomy survey of our penipsont.
Cheap cellos, or cattails at 6d. per lb., and plenty of it, is
so doubt neeeseary if we are to have soy great expansion of
true, bet with* good sad iocroosiog supply even at present