Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1808-12-20

as the stocks of this article have
become more depressed, the spectators |
continue purchasing with increased spirit, !
and many of them have already realised
considerable profits; we therefore quote
an advance on all descriptions of Cotton OF
from I'd TO cd per 10. above our last months
rates, which has principally occurred with
in the last ten days; but we must beg leave
to remark, that such unexampled advances
are scarcely ever SO well maintained as
when they are gradually establ shed, and
some occurrence may perhaps shortly take
place TO put a stop to further specu!ations
we are, however, of opinion, that prices
may yet be driven considerably higher, al
though they have to encounter an extreme
ly bad trade in Manchester"
West India Cottons have advanced
nearly in the same proportion as Anne
rican, and the recent arrivals have full
ly brought the annexed prices, with e.
very appearance of much higher be-
ing realized"
g In Cottons we have great stir !;
and should we not soon have arrivals
from the Brazils, prices must be enor-
NOUS"
Here the Liverpool merchants tell US,
not only that the prices are extremely
high, and may be driven much higher,
unless some occurrence (to wit, rails
ing the embargo) may perhaps shortly
take place, to put stop to further spe-
culation; but that the total imports are
inadequate TO one halt the usual
monthly consumption.-Now Sir,
whence is one half of the usual con-
suption of cotton to be supplied to the
British market. The Liverpool mer-
chants seem totally at loss for a sup
ply from any place ; but the gentleman
from Connecticut Mr.. Hillhouse) has
pointed out several places of supply
The East and West Indies and e.
ven Africa has been resorted to-
They have supplies from all these pla-
ces now, and yet the Liverpool mer-
chants tell you, that the whole imports
are not equal to one hal the monthly
consumption. L therefore have no
confidence in the statement made by
the gentleman. With respect to the
Illustration of bis position, by stating
the supposed analogous case of his but
ter merchants, shall make no reply.
rs fallacy WAS ably demonstrated by
the gentleman from Georgia (Mr.
Crawiord.) 1 viii only Incidentally re-
mark however, that it is the first time
| ever recoilect to have seen that gen.
tleman IN debate, when it appeared to
me, that he did not know on which
side his own bread was buttered.
But the gentle man tells us, that the
IProvident British. government, has sen,
cotton seed to Africa to answer a sup.
ply of cotton that cotton is an annual
plant, and OF course q competent sup.
ply may be produced from that quar-.
ter. am inclined to think, that this
lprovident government does not rely
much upon this resource. Because
Imagine the whole quantity of SEED
sent thither, would not be equal TO the
ofial from one good S. Carolina plan,a
ton; and although cotton is certainl,
an annual plant, yet the conversion O
the labor OF society from ope occupa
ton to another, is not the effect of ar
annual effort. 1t is one Of TIE mos
difficult operations to be performed or
# the labor of society. ! therefore
el no apprehen ION OF supply from
i source, at least, for any years
IF Great Britain Should be cut of
rom one half OF her supply of cotton,
it would certainly place the man,
thousand manufacturers employed in
the various branches OF the cotton bu.
slness, in state OF great distress and
must command the attention of the
British government.
TIE next article shall mention, is.
the articl- OF timber or lumber. |
mention these articles particularly in
relation 70 the supply of the West In
dies and the rather, as the traders 20
these islands have been foremost in
urging the British hostile orders. |
recollect sometime since to have seen
a report made, believe to the House
joF Commons, showing the proportion
lof these articles imported to the w.
Indies, from the United States, in re-
lation to the same articles, imported
thither from all the rest Of the world ;
and the proportion of these articles
was, % in the 100, imported from the
! United States. Its known tina these