The southern press. [volume] (Washington [D.C.]) 1850-1852, 1850-09-17
ID Al Il Y
THE SOUTHERN PRESS.
MR.. HENRY'S CIRCULAR.


DEAR SIM In accordance with my usual custom
at the close Of the business season, take pleasure
in waiting on you with nay views respecting the
prospects for the consumption, production and
prices Of Cotton, and such collateral items as
may deem connected with our interests here.
| submit herewith Cotton Tables for your
examination, which / think alone presents our
interests in very encouraging aspect, and my
self think them Of commanding Importance. A
very essential feature, il the introducing into
them, g as consumed, = a large amount Of Cotton
which has annually been disappearing, and which
has not been entered in any Of the tables have
seen or heard of. They are divided into periods
to l849, each inclusive. To get at, and show this
nsensible consumption, added the whole CON
sumption as shown on the tables for the last five
years, say = - 10, $50 900
To stock reported 3lst De- f'8t -it
cember, 1649 in Europe, SAC, 900
And stock reported LIST
September, 1919, in U. ~
States $4,000
Making, (Bales) l4,l5l,ooo
then added the total an
nua production for the
same years, ID ISL 900
To stock on hand LIST jan o
uary, l845 1,26l 900
Which makes --------------- l4,Sl2,OO
And deducting the total supply above m
from the total consumption, the enor-
nous deficit is shown Of $4,000
Which Of course has been consumed, and is a
very important item. Pursuing the same mode
Of calculating for the first period, found 5000
bales had disappeared These discrepancies have
distributed to each year seemed its due proper
ton. must here remark with regard to the re-
ported stock of cotton in Europe, SAG 900 bales,
seen above, on LIST January last, that there are
hoIo cl,.Aa cd thotV N,
have been, compared with former systems Of
reports in Liverpool 1t should have been entered
under consumption, as the stocks Of the manufac-
turers were that much less than the year before,
as stated in lst January Circular of Messrs. Will
son, Hallett. d Co., of Liverpool, and hence the
stocks on hand in Europe should appear that
much less, say, SAG, O00--and consumption that
much more-say, add 1000 3, PAL 900 bales, as
per my tables, and we find the total consumption
Of 1649 to have been 1881 900 bales. M
You will also see clearly presented therein, that
the annual consumption for the past FIVE years,
has in EACH been greater than the production
material fact which has been only supposed by
many, but which have shown to be beyond doubt
The consumption of 1912, was greater than the
production--and that Of 1874 very near on to the
production-while the total production for the pas
eight years, was not so large as the consumption
| You will also observe that the increase of sup
ply of cotton by our crops and the imports into
Europe from India, Egypt, &C., for the FIVE years
ending with 1919, over the supply for the proceed
ing period, is only seven and halfpe cent, while
upon the average consumption of the latter over
the former period, inclusive of the $4,000 bales al
luded to, there is 20 per cent. increase.
We may here pause to contemplate this super
atyely favorable position, in which not only the
American planter is placed, but in which the whole
nation participates through this important reality
We see that this consumption has thus increased
during period of multiplied disaster and embar
L l<x.. ard C,,l
Great Britain of l847-the revolution in France
and failures there, and general anarchy in Europe
are all herein embraced--not to say any thing o.
our affair with Mexico. et
/ In consideration of those two highly important
elements, supply and consumption, let us examine
their averages in the tables ;--they are cunning
things and will come pretty near the truth. They
show us emphaiically that the tendency of con
sumption is to stride on ahead Of production. VIZ
see were each to keep the pace the next five years
with each other they have the past five, or thu
five preceding, that in l645 the consumption
would be SEC, 900 bales greater than the produc
ton Consumption, therefore, must be urrestet
for the want ofsupply.
A Well, what are the prospects ofsupply' A Sigh
glance at the history of this article will serve Z
illustrate this inquiry. In 1895 cotton advanced e
a very high price, which advance was based OF
the supposition of deficient supply. In that year
however, Egypt forwarded to Europe large
quantity by many times than she had in any one
year before, which really glutted the markets
The immense number and heavy failures that &c
CURED in consequence, with other causes, kept the
prices down until 1892 3, when they began 70
improve, and more liberal range continued ill
| 1890 '40-since then they have been very low, un
less for 1867 and l849 so, when the crops were
so short as to lessen thereby the general advan
tage the prices of those years might appear TO have
afforded. Within this period all the Indian titles
to lands in Georgia, Alabama, and Mississippi
were extinguished, and those valuable lands were
all put into market. The purchases OF 1884 8
and g were prodigious, and the lands were rap
idly settled up. The aggregate purchases since
! 1885, have been so small clearly to indicate
that the remaining unsod lands are not very de-
sirabIe, and thus we have presented very formi-
dabe barrier to any rapid increase of crops IN this
country. The largely increased consumption OF
coffee, and its remunerating prospects, checks the
production of Brazil and TIE West Indies. If with
all the powerful appliances used to promote lis
TABLE OF CROPS OF COTTON Of the
sumption IF The United States and Europe, for
The Increase or Decrease per cent. OF one orer IN