Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-05-21

cotton fell lar below average one, not because the
season was unpopitous, but because the fields were
not properly titled eEd yel the speculative opera
lions in The article invariably resulted in heavy losses,
notwithstanding they were sustained Until the last
moment by the banking Institutions of the corGt-y
many of which, from their temer'y, u'tmaisi y
sunk beneath the wound which they then received.
The "Citizans Bank Of New Ofleans-a! that time re
aardsd as the strongest institution of the kind III The
Souh-lost by one person. in endsavorlns to sustain
him in his wild purchases than half million Of
dollars. The spectators congregated in New YORK,
from every section Of country and got up Conven-
ton from The cotton growing States, at Macon, Geor-
gia for the purpose OF adopting TO force the
English manufactures to pay the high prices which
they had anticipated. The Commission Merchants N
Liverpool although under heavy advances upon wh'eh
reclamatons TO an immense amount were Afterwards
made, were requested and urged TO keep every oee
out of market, until designated advance was estao
llshed The stock was accordingly no, disposed OF In
short time, however, The crop, extraordinary
one IN point OF see, occasloned partly By the high
prices prevailing in The United States, but more by
the ughtness Of money matters, which the planters
began to feel commenced arriving. and speedy pros
treton OF prices ensued. While the imports OF 1852
into Giea, Britain, from the United States, of tho crop
of 1888, extended only 5l4 500 those of $780, from
the crop of 1899, 246 79l-a difference of nearly
fifty per cent With tbes facts of so mpre ssive ma
ture, and of such recent dale before their eyes, It Is
marve!lousy singular that capitalists, however strong
their nerves, should hazard their means upon adven
lures IN which their chance for profits is better than
1t would be, for winning wager at "open and shut
AT Liverpool the market has given way since the l4h
uliimo I'd.
No one rejoices more sincerely than do, at seeing
the planter amply recompensed fer his oils-but he is
not BENEFITED by sudden advance in The value of his
product, while he is materially injured by sudden de-
preston. In adrance, if i; be not boitoned upon
tual demand, is seldom Of longer duration than sea-
son. The depression which follows continues for seve
al nd hp hpts nm
point of price which his staple commands While lie al
why's has TO bear the minimum. Let him have q sio-
Bile market, though it should rate low and his
pecuniary condition will be better than with auctu-
atiBg one, ranging, in t@elve-monih, extremes Of
so per cent.
The cotton market closed in Liverpool The 3lst Of
December, at average advance on American de.
scrpiIons, OF about u cents The pound over the
period the year before If the crop of last year
had come regularly forward, ths in all probability,
would have been maintained for long time and sa-
lu,ary of things would have existed. The stock
in England 7o4 100 bales the lst Of January,
against oGl 430, Isl January, ls43. But facilities have
again been Instumenta in holding the article back as
observe the banks in New York had made large ad-
vances 10 holders OF it. With q crop estimated al
800 000 TO 1000 900 bales Of last years growth IN
the different ports Of the United S,nes the stock on
the 18th of February, CO. Sn5 bales, when the
time in 1913, only 1872 l37 bales, while the
crop amounted 2 400 900 bales Under this state
prices for this years crop, os he had to submit 10 for
that of 1912, provided it is Us full it was then
There is remedy for il; and it has been effect
ed by disposition, apparently reckless, 10 speculate
Cotton is lower in Liverpool than in New Orleaus-
while the tendency Of the market is evidently droop-
ing. The produc, of other countries, entirely neg
eced last year, in requeet, and supplies the de-
mand which ours would have created. Whit was done
in 1872, by the large production OF planters, to
break down cultivation in India has been nndoae by
the operators in the crop of le43.
The cotton imported into Great Britain. in IS43,
amounted to 1927 bales, against 1907 97O bales
lSi2- Increase 344, SIC bales to which the United
States contributed 279.2l0-Braz IL, 1872 aud Egypt
% ADJ The decrease in East India was 20 800 and
in West India 700. The quantity taken for oonsump-
lion was 1897 3o6, against ,237, $3.50 in ls42 In
65 D56 bales of all descrptons-lsl 600 United
States-33 800 Of Brazil end Egyptan-snd decrease
of ID 500 of East India While, as | have remarked
he average price Of our cotton, on The LIST OF January
1911, and half cents higher than a! the same
period in 1913, that Of India only quarter cent
higher The latter, therefore, under The advance in
our markets, las been taken for consumption Ia 1889
the receipts in England from India were only 1872 225
bales but from the high price exaced for our staple
by the spectators ho controlled lis sale, the yield
India augmented, and, in $780, GIG l2 bales were
received in the British ports. In lS4l 275 Slim
1912, 257 ,36O--in 1913, l,lS9.
The average weekly consumption Of Gotten in Great
Brit1n, in 1885, was 90 81 hales-in 1870 "a $40
in 1884, q, 092-n l542, 90 795-und, in 1913, 6S72
The imports from the United S.a,es for the came yeats
in The order above named, were el3,2l0-l 236 Cos
9O2, 4a9-l O6, 3oo-and l,3960lo. Thus, it will be
SEEM that in proportion to the receipts from the United
States, the factories and mills Of England kept
motion.
But as bales of cotton increase in size annually
will give yon The number of pounds which were i'm
ported into England for the three years, ending with
the 9th January last:
United States, aiss44 It's 39 aas 500 lbs Sa so9 os lbs
British, e7,33l.e01 e3iiS, 100 9 50 ljs G0 :.
Duty on Us, s5aos25 f:57,5o7 f7aa,5es
Imports Of 7obaeeo into The United Kingdom.
Is4a 1919 1919.
Entered leaf 1895 $50 lbs 80 s69Gs lbs A. s9a lbs
DO. manufactured, Ioi3,757 6l,CGi llT53I
Entered for home consumption:
Leaf - 095.5-s lbs. % l52 col ihs % sol $50 his
Manufactured, 23,772 2a5,36i 2tasI3
Duty collected OH all
descriptions, fa,sso,l6i f35s5,437 s3.7o7l4
The entire duty collected in Great Britain in lS43'
or tobacco and cotton produced in the United States,
is about S2l 100000, may be from the fore.
going tables.
The revenue realized by France cotton, in 1S43.
was ,22l francs and tobacco, 104, 3G5 900
francs
Statement IF Stock, Of Tobacco held in the diTerent
countries Of Europe, for the tire years terminating lsi