Baltimore commercial journal, and Lyford's price-current. [volume] (Baltimore, Md) 1840-1849, 1848-09-16
COMMERCE OF NEW oRLEANs-ls47-s

COMMERCE OF NEW ORLEANS-lS47-S.
We extract from the Annual Report Of the Editors
of the New Orleans Price Current of the LIST inst.
the following:
CorToN.-Seldom, if ever within the period of IFS
history as the leading commercial interest of our
country, has the Cotton trade been subjected to so
trying ordeal as that through which II has passed
during the season Just closed.
The year may be said to have opened with rather
fattering prospects for good Crops-at least IN this
section of the country-and for rcmunerating prices
The food crops of Europc-the failure OF which the
previous year had been productive of such wide
spread distress among the population OF the old
world, and which, from the great enhancement OF
the cost Of suStcnancc, had exercised depressing
influence upon the Cotton trade-gavc promise OF a
fair average Weld aud thus presented the pros
pcct of gradual removal Of what was then the most
formidable obstacle in the way OF more extended
consumption of our great staple. At the same tune
the stocks of Europe unusually low, that Of
G. Britain being only 5ll 900 bales, against $50 $50
bales in 1916 and 100000 in 1915.
The early prices obtained in this market were
highly satisfactory, and the trade gave fair promise,
until the latter part Of October, when the CONNER
cia revolution which Frustrated credit III Great BIZ
tain, and which subsequently spread TO nearly all
parts of the Continent of Europe, and TO the Indies
put a sudden check to our prosperous course, and
produced rapid depreciation of prices than
we remember ever to have witnessed, in an expo
riencc of many years as observer OF the vary
phases of this most important and most sensitive oil
rally from the shock produced by the state OF things
Just enumerated still more severe blow was given
by the startling intelligence of revolution in France,
and the overthrow of the monarchy. This move
ment of the people III favor OF popular rights ra-
pidly spread TO other countries OF Europe, and m
the tumultuous state of political affairs commercial
credit completely overthrown, and trade IN a
measure annihilaed. In this general prosration OF
credit and commerce probably no interest, connecting
our own country with Europe was more severely
affected than the Cotton trade and prices here were
at times depressed TO within fraction oil the lowest
point reached in 1913, while al Liverpool sales were
made at lower rates than ever before known
for American Cotton. This dcprcssion too, both IN
its and effects presents marked contrast 10
that of lS43 for in the latter instance 1t was attr0-
utabe solely to excessive accumulation OF the raw
material which gave the manufacturers, particularly
those of Great Britain wholly the advantage and
enabled them to prosecute an active trade at I'M
profits; while during the past year the stocks
in Great Britain, least for the greater portion OF the
period, have been unusually low; but so great have
been the arrangements of trade that the manufac-
turers could not work with profit, even upon lower
cost Of the material than ever before known
and many mills were stopped, while most others
were compelled TO resort TO short-time working.
Speculation has been comparatively unknown, as
will readily be by the fact that during the trst
six months Of the present year the quantity taken
by spectators at Liverpool only I,SOO bales,
against 22S, 400 bales for the period in lSlI.
Having thus given rapid summary of what we cou-
ceivc TO have been the prominent causes Of the eX-
traordnary depression of the past we proceed
to a brief review Of the course of our own market.
The total receipts at this port since lst September
last, from all sources, 3,SO5 bales. This
amonnt incudes Is O72 bales received from Mobile
and Florida, and from Texas, by Deducting
these sop bales from our total receipts the above
amount, the remainder shows our receipts proper
10 be lSS.133 bales, increase OF 4S 400 bales
as comnared with last wear The total expors dur
ing the same period are POI ,S97 bales; of which
654 0S3 bales shipped TO Great Britain, 1896
TO France 1874 SO7 TO the North and South of Europe
Mexico Sc and go 03g 10 United States ports
including 1900 bales 10 Western States The in
crease as compared with last wear is 26S 7l5 bales
IN Great Briiain d. 24g 10 France 7OSS7 TO the
North and south of Europe. &C.. and 90 .53s TO U.
States norris The total recpints nj nil 4tl1ntic and
G,If norris IN TO the --latest dates reeciyed-as shown
bv our General Cotton Table-are 3 325 $50 bales,
AGAINST 1871 46l bales TO same dates last wear:
shouting an Increase of AL 6l7 balos This amount
however il should he understood does not repre-
scrt The toi1J IRON of bc limited Sates az the Grand
rcsult cannot he attained until full returns nm TO Isl
Sentemher are concentrated at one noint Tie duty
of making IN the total cron has for series of wears
devolyed upon the editors Of the Ne,y York Shipping
and Commercial List; and uroperly so from the
nearer proximity of their point of publication to Eu-
rome. and should the Gorthromino statement he made
mn IN The usnaI basis what with the receipts at Mo-
bile. Florida and the Atlantic ports between the
last dates in our table and the ist September the
stocks or hand At Macon angusta and Hamburgh
and The rccrints overland At PHILADELPHIA and Balt
more il Is nrobabIe that the total crop of lS17s as
TIM comnued will NOT vary materially from $50
ono bales
SrGAR,-At the date of our last annual report the
Cane cron. then advancing to maturity, presented
most flatterng promise. and in our closing remarks
nnder This head we took occasion TO state that there
,ys good reason 10 expect that the produc of this
;mnnTtant staple of our State would exceed that OF
an nrevious year since the introduction of its cult
yaii6n. This result has been realized, beyond all
question though we are again unable to present the
eract amount of the CROP and for the same reason
stated last year viz: that the parties who have here
toore scertancd the product of each plantation an
nuaIly. and published statements embodying their
rrsearches have not resumed their Iabors We
b,ve AGAIN therefore to resort 10 popular estimate