The Mississippi Creole. [volume] (Canton, Miss.) 1841-1851, 1847-03-06
Circnlar Of Messrs. Todd jackson & Go.

LIvERPoop, January |, l847.
We venture to solicit your attention to the
following remarks on the history and condition
of our Cotton market during the past year., and
It's prospects for that which has just began its
The year 1916 opened under very unfavora-
BILE auspices for this great staple; the stock on
hand was Of overwhelming magnitude; and the
condition ofthe money market highly disadvan-
tageous to all operations requiring the use OF
large amounts of capital or Of extensive credits;
well informed parties ielt confident that the
crop OF 1856 would fall short of the present
one, but under the then existing circumstances
they could not encourage the belief that the
anticipated deficiency was a sufficient guaran-
tee Tor higher prices Some commercial fail
ures Of magnitude occurring here in the month
OF March, gave a considerable shock to credit,
and hence, although the trade purchased freely.
prices continued to rule low during the first
seven months Of the year, and the fluctuations
were comparatively tfiding. In the latter part
of the month OF August, the ndvices from A.
merca not only confirmed previous accounts
of deficient receipts, but spoke discouragingly
of the prospects Of the growing crop, and it was
evident to all who bestowed any attention 70
the subject, that al the rate at which consump-
ton was going on, both in Europe and Ameri-
ca, two consecutive moderate, (not to say
smalD crops,could not occur without advancing
prices, an immediate and extensive demand
sprung up, both from the trade and spectators
and prices began to exhibit an upward tendency
this was in part couiteracted BY the eagernes'
Of holders to realize, and the deplorable &C
counts of the almost TO total annihilatior
Of the potatoe crop in Ireland and extern
sive failure Of it in England and Scotland-thu'
we find that "Gair Orleans which was quoted
at AID in January, had only attained TO SD il
! the middle of September, a period Of elgh
t months and a half; from that date, however
: down to this day, the business, [chlehy OF spec
%ulators) has been on a most extensive scale
comprising two weeks in which the sales a
mounted to the Unprecedented quantity Of l2a
900 and 10000 respectively, and during III
last three months prices have advanced cad
Gfair Orleans'' being now worth I'D ID.
Such is the briefhistory Of the Cotton traC
during the past year; and we shall nowas brie
" comment on its present condition. On Il
e one hand, we see prices Sd per III equal to
per cent? higher than at this time last year.
Cotton fabrics at such low prices as involve
considerable loss at the present costof the ra
NEUTRALITY-SUSPICIOUS. advancing weekly
" price. owing to the failure Of the cotton crop,
a state of wretchedness and destitutton in II
70 land, defying description, and leading to Sc
A Gus apprehension asto its consequences, DO
social and political--the state of exchange WI
Amer ca so disadvnntageous to this country,
e to induce a belief that extensive shipments
- gold will be requisite TO pay the balance
- transactions between the TWO countri
:, whenever the shipments Of Cotton
: come heavy, in addition to those OF brea
~stufa, which will assuredIy be large and e.
tinuous; callsto an immense amount, dnrl
every month, for the construction Of ralIwa
'P- which although expended in ths country,
e'' minish, in the meantime, the capital ayailal
eu for commercial purposes ;--tradei in France a
raj ON The continunt of Europe generally, ls u
nc deplorable condition, owing To the failure
a. the grain crops, BY which the means Of th'
al countries for the consumption OF cotton iabr
and other materials of clothing must be ma
W. rially diminished On the other hand, how
at err. the stock of Gotten Of all kinds in Or
Gas Britain is only 545,790 bales. against 1000,
bales last year, being a difference 5l4,'
bales. We have trustworthy accounts from
merica whichinduce almost the certain be
, that the crop Of 1857 will not exceed l,9(
on. COO bales. A temporary abundance Of mo-
exists, and we receive accounts Of gradual
provement in the East India and china n
kets.
In setting before you the history and COZ
ton of the cotton trade, we have confined Q
~ selves to a bare statement Of facts, and we q
follow the same course IN treating Of It's p
poets. 1t il an important consideration as
yards the failure, that prices have already n
90 greatly, nndit is consistent with ast ex
renee that we should therefore expect redu
consumption, but asthe quantity available 4
the stock on hand and prospective supply
IA also b. very much reduced, j remains . P
/, e lem vet to be salved, whelher consumption
v,as or win be promptly and sufficient. cufta
:. without further advance in prices 1t is
!. N material that we should not forget, that
- East Indies are capable Offending " incfei
quantities, which the prices ID England WY