The Express.
London, England, 1849-12-05 00:00:00

THE COTTON

OUR PROSPECTS IN INDIA.
(Press the Maseheekr Quardiais.)
We do not propose to enter into the controversy
which has been carried en so warmly, during the last two
months, between those who would lain believe that cotton
will be lower, and these who exert all their ingenuity to
show that it must be higher. That la not our legitimate
place; our duty is rather to bring together, from time to
time, suck teats as come under our observation and within
our knowledge, as are likely to enable the contending minis,
—the buyers and the sellers—to test the accuracy of their
r ern views and opinions ; for it is quite clear that no one is
likely to suffer so much from any over estimate of future
supplies as the manufacturer himself, if, relying upon
such views, he neglects to make purchases in time ; or the
holders of cotton, from any exaggeration of the causes as
scarcity, It they induce them to withhold their mocks frond
the market, welting for prices which will never be realised.
Every one of large experience in the cotton trade must have'
euerved that these parties are usually the victims of their
own miscalculations and exaggerations. At the present mo-
ment there are undeniable facts enough to induce us to look
with some considerable degree of anxiety to every quarter
from whence aid can be obtained, in the event of the ado-
, mumble predictions with regard to the American crop big
nailed. This alone is a startling fact : On the Ist Nov.,
1849, the prim of Georgia cotton was from 31d. to 40.1
per lb. On the lit N0v.,1849, the price was 615. to 615. per
lb. ; en advance of 50 per cent. At.d the startling rise has
taken plus in the face of • state of facts, as 41 hi-
Woe by the statistics of stocks at the beginning . of
the year, and supplies during the year, which might lately!
ham Dees expected to produce a very different result. The
Meek of cotton in the ports of the United Kingdom on the
let of January of the present year was 496,050 bales, against
4.51,940 bales on the same day in 1848. On the Ist of Jana-
lacy in the present year, too, with trade reviving and a cheep
money market, it is probable that the stocks in spianers'l
hands were much larger than on the same day in 1848, whim
we were scarcely recovered from the panic of the pregnable
October, and when all were still acting with the greatest
caution. In addition, then, to this large stock, and with
which to commence thel year, the impetations of 1849, up
to the Ist of November, have been 1.7;0,052 bales against
1,665,071 bales in 1848, making a total supply in the
present year of 2,246,102 bales against 2,007,011 bales
in the sme period of 1848; or an increase of 239,091
bales. But the stock on the Ist of the pre eat
month was only 519,100 bales, against 648,600 batcs on the
same day last year ; showing, with the increase of suppf just
indicated, • decrease of stock of 129,500, bales, is the three
ports of London, Liverpool, and Glasgow. This uuexpectsd
state of mature, after the largest mop on record, has been
brought about by a consumption more extensive than any on
record, and by a considerable increase in our export demand
for cotton. The exports up to the Ist of November are
231,700 balm, against 177,200 bales in 1848 ; while the apple-
re..t quantity consumed at home has been 2,014,402 bales, or
at the rate of 34,431 bales per week, whist 1,820,811 hales
in 1848, er at the rate of 27,110 bales per week. The deli-
veries to consumers in the month of October were the largest
of any on record ; but so large as to show, beyond any doubt,
that a considerable portion of those deliveries were for the pur-
pose of increasing the stocks of consumers ; which it must be
admitted by the greatest advocate of scarcity and high prices
ale greater at this time than at any former period whatever.
Such, then, are the simple and undeniable facts at home up
to this time. We will not speculate upon the ultimate result
of the American crop ; but it is impossible not to feel that,
whether the present full prises be maintained or not, we can-
not have a consumption during the next year equal to that
of the present. Independent of price, which may rise or fell
according to other circumstances, it is an unquestionable fact
that the consumption must he curtailed—oilier by working
short time, or by that change in the counts of yarn spun
which is always found to attend great alterations in the price
of cotton.
Under these circumstances, we have looked with more
i than usual anxiety to the recent accounts from the east, not
alone so tar as the supplies from that quarter are likely to
recompense the short crop of the United States at this par-
ticular juncture, but quite as much to discover how for we
may look to India for a future supply of cotton, of a
quality really suited for our general consumption which
will compete with that of the United States in ordinary:
years, and guarantee us against inconvenience in years of
eurcity. irons the most recent and most authentic accountsl
to which we have had access, we regret to find,
that in place of making that progress which
the understood success of former experiments entitled'
us to hops for, the cultivation of New Orleans cotton
seems rather to be on the decline then otherwise—in mime
places very much so. Irons accounts recently received from
Bombay, we learn, from a source on which we place im-
plicit reliance, that in the important district of Dharwar,
where, perhaps, the greatest success bad been attained in the
cultivation of New Leans cotton, that, in place of about
26,000 acres which were cultivated with that description in
the year 1847.48, there were lees than 4,000 acres from
which the crop of the present year would be collected,e of
this improved class of cotton. The Ryote, it is said, had
fallen back to their old native plant, the crop of which pro-
mised to be • large one.
The members of the Chamber of Commerce in Bom-
bay, who have watched the progress of these experiments
with so much anxiety, and who have taken so much
pains to assist the government in the efforts which
have been made naturally express themselves severely die-
appsinted at td is result; mpecially after it had been esta-
bleated beyond a doubt that the climate and soil were both
favourable for the cultivation of the New Orleans description
of cotton ; and when it was known that the Ryots had ex-
perienced the great advantages of cultivating this improved
quality. The pvernment, it appears, had taken every
means to publish the favourable result' of their con-
signments to Ragland of the produce of this description
of cotton. And, moreover, examples were not wanting
of private speculation having proved equally successful.
No doubt didicultiea had been encountered in the cultivation,
and especially in cleaning the new clam of cotton, to render
it tit fur the market. But every pains had been taken to
overcome those difficulties, and the efforts appeared, so tar as
they went, to have been masked with great success. No one
who is cognisant of the 'great solicitude shown by the go-
verieuent of ladia, and by the court of directors at home, to
do an in their power to encourage and aid the cultivation in
question, will be disposed to attribute any part of this sud-
uen and unexpected disappointment to their indifference, or
want of exertions to secure an opposite result. So tar es the
meaning of this cotton is concerned, it is well known to the
'meting members of our chambers of commerce, how ready
the home authorities have been to adopt any improvement
in the machinery fur this :parpou, introduced from time to
time, and to purchase supplies of newly:invented-and im-
proved gins, for distribution is those districts in India where
these experiments have been in progress.
It appears that the government, who have all along acted
in great harmony and in perfect concert with the Bombay
Chamber of Commerce, in these efforts to improve the
cotton culture of India, have recently submitted their re-
ports to that body, for their consideration and advice. The
members of the chamber still continue to
and
urge the old com-
plaint of the *rant of roads, and the gr expense
difficulties of communication between the interior and the
coast. But come of the members, best able to form an
opinion upon the subject, begin to entertain serious
doubts whether the efforts of the government to aid and
ancoarage this particular cultivation have not been pushed
too far and continued too long. It is even said that so
far has it been pushed, that the Ryots for • long time
telt that they were acting under a distinct compulsion
in cultivating this description of cotton; that it was under
this compulason that the cultivation was extended so far as
it was in 1847.48; and that since the natives have been
given to understand that they were at perfect liberty to
adopt any cultivation they pleased, they. have abandoned
what they believed hitherto they were in a manner com-
pelled to follow, and have very generally fallen back to the
cultivation of the indigenous cotton. Nevertheless, and it
is a carious feature in the modern character, it is said that
they are perfectly aware of the superior quality
_ and the
higher pre. which they would obtain for the New Orleans
quality ; which would far more than repay the additional la-
bour of cultivating and cleaning it, and would even afford a
pod guarantee against the occasional failure to which the
New Orleans cotton is more exposed from drought than the
native description'. If this be true, it is a remark-
able example of the danger which arises nom all government
interference, even for the purpose of promoting improve-
' meats. There is • point to which, perhaps, they may safely
go, in affording facilities and in removing difficulties and
impediments, but beyond which it is very dangerous for a
government to proceed. These efforts, especially among the
prejuuiced and ignorant Ityots of India, may be easily mis-
understood. The Chamber of Commerce of Bombay do not,
however, so far as we understand, look spot this present
check to the culture of New Orleans cotton as a conclusive
reason for despairing of its ultimate success. We trust they
may prove to be right.
The practical result of the information which we have is,
that in the present Demon we must look for • considerably
smaller quantity of cotton from India of the American de-
scription • but that we may fairly expect the supplies of
native cotton to be large, and especially as the shipments
will be greatly stimulated by the present high price.
.is
and

TILE BRITANNIA BRIDGE.—The transport of the
huge mass of tube, 472 feet long and 2,000 tons in weight
was suiceufully effected yesterday. Should the first line of
tube be completed by March, 1850, the works will then
have been nearly four years in progress. Telford's Menai
Suspension Bridge was eight years in building. The weight
of its iron work, compared with that of the Britannia
Bridge, being as 644 to 10,000 tons.
EMIGRATION FROM ELYMOUTII.—The Plymouth
Herald says :—" On Monday, Nov. 26, the Reliance, 736 tons
register, Capt. Osborne, under charter to her Majesty's
lontal Land and Emigration Commissioners; arrived from
Liverpool, to embark • large body of emigrants for Port
Phillip, 300 of whom will assemble at the depot on Friday ;
she will sail on Tuesday or Wednesday next. On the same
evening the passenger-ship Woodbridge also arrived from
London, to embark passengers for Adelaide and Port Phillip.
These ships are consigned to Mr. Wilcock', the agent for go-
vernment and general emigration. On Wednesday the John
Knox and Rajah, Capt. Ferguson, also arrived, the former
to take female orphans from Ireland, the latter with private
pamengers for Adelaide and Port Phillip. The Oriental,
Capt. Grieves, with government emigrants for Sydney,
sailed on Thursday, 29th ult. The Statesman, Capt. Lane,
embarked her wet of England passengers for Adelaide and
Port Phillip, and sailed from Plymouth with • full comple
meat of cabin passenger", among whom were several influ-
ential colonists returning, after a sojourn in England. Her
'tween decks were occupied by a Lull complement of most
respectable passengers. The Statesman is to be followed by
the Troubadour and Arabian, both well.known shim."