The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-03-14
EDIoRT's CORRESPONDENCE.
[FrOm our regular oOne.ponasD,,

gOUernment.-.Noties fus cotton market at Haprs.
The present and past condition and future prospects
fths cotton market abroad and at home based upon,
the probable amount Ofhs last erop.-Eusnts trans
Piring IN reference 10 he cotton trade, toreioId.-
Crop o. ls45 estimated III Neg York a. from o 100, :
OooO 2,3Oo,OOO 6alss-OeLOO Liverpool calculations
last autumn and since that iime.-Ths importance
Of Indian printed BY in he Union last ailiuHln
as cheap brtadstp6, and dtosn upon as substitute
tOrpOidiOts and flour, for the starting masses in
| Greai Briiain.-htary shipments made by the Eng
lush government 10 Ireland, &C., during the past
Uinter -Grsat arrival Of missing pGeksts.-- French
Steamship companies organized and organizing.
Having received per Hsue packet Zurich, a let
ter from American mercantile friend resident at
that place, beg leave to submit few extracts:
~ now favor you by the Zurich, detained by
| head winds with the price current of our
market, by which you will see the state
| Of American produce. Cotton sss declined again,
| after having rallied during a fortnight and
prices are still below cost and charges. THIS
fact alos gives you the measure OF our fears re-
CARDS war event 1loch ID looked upon mpos-
sible between two nations whose fleets cover the
| ocean with their commerce.
THE ball OF Sir Robert Peel, now before Para-
| ment, will open up prospect Of 80 much trade with
the severn States that hope the question Of policy
well az othtf h,eros,s VIII have some weight with
/ our Congress, M modifying any unnecessary
| like disposition that may exist.
THE remarks on the Presidents message III regard
10 France, has produced good deal Of noise herei
bat the justice Of his complaint is acknowledged by
me majority Of the press, and public opinion.
IL hope 0ur sovefnpent will not allow to pass
noticed new proof n the intention Of the Preach
government To infringe Of the clauses Of the
~ Of July, 1881 ] refer 10 the recent tobacco con-
Tract, which has been granted condition that the
French hag alone shall be permitted import tobac-
@ for the fulfilling ofthe contract Tobacco being
monopoly his condition excludes our flag from
bringing hogshead Of tobacco during 1876 and part
% lel7."
I hnd the only treaty we have with Frunce, Of
the date referred 10, is the indemnity treaty which
On examination, contains no provision which con-
heis with the right Of France, however ex-
elusive the measure, from importing tobacco con.
tracted for by the government. My friend il there
fore mistaken 70 any violation Of existing treaties
by such regulation.
The duness III the cotton market alluded TO was
probably dissipated by further accounts from Liv-
eTpOol Of the 9th, when cotton was not only firm,
but according TO the circular Of Brown, Broth
eb, Company, maintained All advance of
prices per Cambria Of ID, equal to about , Of a
cent The condition and prospects of the cotton
market 1t present II not affected by any belief or
disbelief m war, but solely by existing probabilities
tmatsd this city at from 100000 to 1900 900
bales. before stated il the crop Of fS45 fell
below z, 800 900 bales, under the product OF
l5il that prices would necessarily improve.
Early IN the season, operations in Liverpool
were based upon the opinion that the crop Of ls45
might not exceed that Of 1914, but would under no
probable contingency fall below II. The manulactu-
rers early last autumn, was then stated IN my
correspondence for the Union" passed over u
heavy stock for the period in the Liverpool market
sent forward their orders to New Orleans, and
other southern cotton ports. In this movement
they had a double object In the first place, it pre-
vented rise the Liverpool market; and If any
rise occurred, II would be IN the American ports |
where their purchases were being made. Thus,
II by filling their orders in this country the article
should be enhanced in value the circumstance
would compel American manufacturers to buy
stock at higher rates, which would tend to equalize
their advantages as to the consumption Of cotton at
materially ess costs than that consumed by the
Manchester spinnors.
It will be remembered by your readers that carly
last autumn, when ] received letter from Liver
pool, containing hints Of this movement, stating also
that leading transactions were based the calcula
ton that the last crop would not fall short of 400 900
bales that | then stated "f cotton planters acted
upon the hints contained in that letter. they would
save millions Of dollars" | simply aimed to give
II, as my opinion that the wises thing for them to
do would be TO hold back their cotton from market
al prices advanced ! do not know how far the
bun. was taken. or whether IL bad any influence
with them; but subsequent events have fully usti-
fed the soundness Of the views then entertained.
Your readers will also recollect that as far back
as October, or the early part of Nov. last | devo-
ted whole letter, published in the Union, to the
importance Of Indian as a breadstuff and a r
gued IN favor OF II as cheap and wholesome arti-
Gle Of food in place Of potatoes or wheat -four, in
view OF the threatening and alarming prospect Of
scarcity IN Ireland and other parts Of Europe, by
reason of the potato disease, &c. also dwelt up
on the necessity Of the government moving on the
subject, and adopting some means for introducing
Indian corn more extensively into Europe, and over
coming the prejudices of the people to Its a
breadstuff.
How far my scribbling had any influence on either
side OF the Atlantic, | am not prepared even to |
guess; but have the gratifying of believing,
or knowing, that the English government by its
agents, did send during the winter Just closed, very
large orders TO this market for Indian corn, to be
shipped to lreland-principally to Cork. have no
means Of knowing the exact quantity which left
New York alone, on govern ment account, for Ire
land, including various ports in st. Georges chan.
mel, but 1t probably did not fall short OF 500, 600
bushels! Ia addition to the shipments from New
York, purchases were made to large extent in
Boston. New Orleans, on the Wabash, in Indiana,
&c. The like Of this has never happened before |
since the independent existence Of there States.
The effect must result as benehsially to our own
people as to the hungry masscs supplied with a
cheap and wholesome breadstuf. BY having our
market relieved OF no much Indian corn, rye and
other grains have advanced in value. Stock in the
West, which is usually reared and fattened with
Indian corn, will bear better price, while the farm
who have corn left TO sell will get better price
for IT, II the farmers prosper, 30 must the shipping
and commercial interest, for they rise and fall to.
gether.
Most all the great shipments Of Indian corn to
Great Britain have been made in American vessels,
chartered for the purpose. The true glory Of the
country is found in the ,riumphs Of agriculture and
commerce. when they prosper, other things, such ss
trades and manufactures, &c, will prosper with
them, however free and unfe,ered by restriction and
taxation, the others may be.
The underwriters Of Wall street were relieved,
yesterday and to-day, from great load OF anxiety
by the arrival ola fleet Of missing packets, amounting
TO no less than some ten twelve IN number. Only
one now remains behind time, va the Havre pack
et-ship SILLY, To Fox a Livingston. The Liver.
pool, from Liverpool, noticed yesterday, and the
Zurich, since from isvre, brought ell the late news
we have.
By the Argo arrived yesterday from Hsvre,