The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-01-19 00:00:00

Jan. 19, 1

commercial principles, titillate rise' pn priceg cannot Le
permanently maintained."

- For this purpose he assumes; notwithstanding the MN
of evidence against it, that the
,present crop will amount
'to 2,100,000 bales, and that with thlYcrop, added to the
production in other countries and to the stocks in all the
ports on the 31st August last, and estknating the con-
sumption of the world at 2,780,000 bales. for the twelve
following months, that the stock on the 31st August, 1847,
will be 884,245 bales. This is well as far as it goes, but
let us look a little further. Supposing the crop of the
present year to have reached its various points of destina-
tion by the 30th August, 1847, there must necessarily be
a lapse of three or four months before supplies can be de-
rived from a new crop. Taking therefore the consump-
tion at the figures assumed by the writer above- alluded
to, say in round numbers at 232,000 bales per month, it
would amount from the 31st August to the 31st Decem-
ber, the usual time for taking the stock in Europe, to
928,000 bales, or 44,C00 bales more than his accumulate&
stock on the 31st August, out of his abundant supply for
1847. We will allow 100,000 bales of the new crop; the'
growth of 1847, to reach the different ports of consump-
tion by the Ist January, 1848, and in that case the stock
in all the ports on the 31st December, 1847, will amount,.
agreeably to H. L.'s own figures to 56,000 bales, against
a stock in the ports of Europe on the 31st December,
1845, of 1,219,000 bales.

It appvnrs to me therefore that your intelligent corre-
spondent crmld not have thoroughly examined this im-
portant subject, when he made the assertion alluded to in
the first pa,rt of this corn munication.

It would' be very easy to go into other arguments and
statistics to show, not only that the fate advance in prices
is well founded, but that it is likely to be permanent from
the fact that the consumption has overtaken the growth.
—But I will not trespass upon your valuable room to prove
what must be so apparent to every one. I will only al-
lude in conclusion to the critical position the Cotton ma-
nufacturers throughout the world would be placed in,
should any serious di.a3ter occur to our next crop ; and
ventu.e the opinion that a liberal augmentation of prices
on their part at this time would be judicious policy, in
orde, to stimulate the production of Cotton wherever it
can be grown, the low rates for a few years past having
unquestionably led to an abandonment of its culture to a
considerable extent , , S. H. F.
November 28th.

A writer in your paper (S. H. F.) in commenting on an
estimate of the supply and consumption of cotton, pub-
lished in your journal of the 17th November, says, that
the stock in all the ports, on the 31st of December 1847
will amount, agreeably to H. L.'s own figures, to. , 56,0 ,
00 bales." If this is a correct view of the case. th.
• ---

auu Lies country will be reduced t 0
about one week's consumption at the close of the ensuing
year, on the supposition that' our crop should prove to be
2,100,000 bales. But it is intimated by your corresondent
that we have over estimated the crop. We admit that,
at this moment, opinions of many intelligent persons
deeply interested in the purchase and sale of cotton, are
in favor of 2,000,000 bales ; while some estimates go.
down to 1,900,000 bales. If the crop should prove to be
only 2,000,000 bales, then, according to the anticipations.
of S. H. F., the suppl3r.of this important material of ma-
nufacture will be exhausted before the termination of the
approaching year.

- Your correspondent alludes to " the critical position in
which cotton manufacturers will be placed should any
serious disaster occur to our next crop." If, however,,
the construction put upon our statement is a correct one,.
the manufacturers are already in a very critical condition.; for, should there be even a moderate degree of apprehen-
sion abroad that the stock will be redtwed

LO a week's
Lers of cotton would be unwise to part
short of double the existing ones. Even.