Independent Democrat. [volume] (Canton, Miss.) 1842-1844, 1844-02-24
THE COTTON TRADE,

THE COTTON TRADE.
BY the arrival of the Roscius, al New.
York we have Liverpool dates up 10 do
l4th Of January. The market for cotton
was then stated to stand as follows:
Liverpool Cotton Market, Friday Janu.
AIRY IA very large extent of business
has been done this week, the market Open
ing with moderate demand, STEADY
prices, and great firmness on the part q
holders; in this position we remained until
Wednesday, when 7 days later accounts
from the states were received, confirming
those previously at hand, as regards the
reduced estimates of The crop, inducing
more activity on that day, when upwards
of6000 bales were sold; and yesterday
still greater degree OF briskness prevailed
when the sales we're reported at 1900
bales, full two.thirds To spectators, and
prices of American descriptions and SuN
ruling fully l-s higher than on Friday last.
The last news from the United States
seems 10 have made decided imp,es:ND
on the cotton market abroad. This, w
think, will continue TO be The case fur some
time to come. AS they become aware q
the diminished esiim tics Of the preell
crop in tbs country, plies will aharce.
All The operations in our great staple IN
the United States have been made for
sometime with view 10 this. In cOnsr'
q .ence prices hore have been greatly ia
advance Of the quotations in the consn'
ming countries. Much tho greatest amt
OF sales has been made upon speculation
The spectators to great extent have
driven the regular buyers from the market
The. advanced price which they have gu,
en- here, they expect 10 realize by COT
responding advance abroad, when the Dc
ficiency here shall become known. Wheth'
er their expectations will be met or 3D.
will depend Of course on the amount Oilt
deficiency. The speculation is certainly
one of some hazard. How to fix an az
propriate ratio between the price given
and the estimated deficiency, must be
calculation Of difficulty, but the perpleHlly
Is increased by the fact that the amount q
consumption must enter into and materA
ly affect the calculation. If the consumF
ton of the manufactured article docs MOI
diminish with the increased price Of hs
raw material, the expectations OF buysH
will have been well formed, but so soon as
that diminuton commences, the price o.
the raw material must diminish with it,
Europeans have been for sometime aware
that deficiency existed in the coitoncf'h
but of the extent of that deficiency, thes
could form no conjecture They ha"
been SO often deceived by rcpreseniaO0n
of short crops, that they are wary nov"
believing such reports. That perhaps
one reason why the price there has ksP
below The price here. They are becO@'
ing aware now of the true state Of WV
crop, and every vessel which arrives 'Os'
from the United States will confirm A'
truth Of the report, and the price will ~,
The question is how much the rise w.
be. The crop of ls42 was unu'uae
large. the quantity imported 10 Great p"s
ain exceeding thai of lS41 by SAW
bales, and the imports TO other cOunlr"
no doubt were equally increased. h%
mains to be seen whether this excess wv
add enough TO the crop ofls4S, to m'''
it an average crop, and also supply 'n'
creased consumption. II has been ~
naIed that the. present crop VIII iss'
|, 7c0, 900 bales; il viii not exceed n''
and may fall some 100000 short O
this taken ia connection with the new 'D'
kets which have been opened, and '"'
Of foreign cotton which Will re y