Weekly national intelligencer., 1850-03-09
FOREIGN.
FROM OUR EUROPEAN CORRESPONDENT
LONDON. FEBRUARY 7 1850


LONDON FEBRUARY 7, 1850.
The Cotton question naturally engrosses much
of the attention of the commercial portion of Eng
land, particularly since the reception of Mr..
MEREDITH's report, and the statement made by the
correspondent of the Times at New York, dated
18th January, thar it was not expected that the
crop of the United States for the present season
would exceed 2,lO0,0O0 bales that spectators
were purchasing freely all over the country; that
prices had materially advanced, and that cotton of
middling quality was held firmly at New York at
l3a cents. The eyes of the Manchester con-
sumers are turned towards India; and as the pre-
charter of the East India Company will expire in 1884,
and the directors bound make application for renewal
three years before its erminaton they WILL probably be be-
fore Parliament during the present session. There is no
doubt that when they in oro petito, before Parliament
Mr.. BRrGuT, some other member connected with the
ton using districts will demand and obtain rigid in
vesigation into the whole policy of the company The
Times joins in TIE general condemnation of the Court of
Directors, and says, very poinedy, '' the energy
which displayed in chassing rebel chief in the Indies
had been exered in producing marketable cotton the whole
Of available territory in Geozera, Candeish and the
South Mahrata country would now have been under profit
able cultivation The company will probably, be
recharered without being taken that the agcu
and commercial India shall not any longer
| continue unimproved and undeveloped.
The Liverpool Mercury has taken up the notion, and is
advocating it weekly in series of articles headed . The
Cotton Speculation that the idea of deficient crop and
the consequent great rise in price, the result Of comb
nation between the American cotton-gowes and the British
capitalists, who have allied TO them the American cotton
spnner under brbe in the shape Of promise Of protection
to American cotton manufacturing industry The Mercury
says to the stories Of great small crop of cotton
they quite premature they party cry to be
used for the occasion Neither nor deficiency of
crop can be known or felt for months to come"
The Mercury Of the 4,h says sThe feature in
cotton dodge is that the crop is only short but
it has this peculiar defect the Ueg Of the seeds the bo
cotton is found to be in much greater proportion to the
toegh Of the cotton, than before knoWa. Such
the advices from the practical of the United States
Where there be found such vein of invention and
daciy, the diggiDgs of California minor
Against these assertions made by interested parties there
three facts he weghed-known facts, be it observed
Prices are higher by 60 per cent than they this time
last years the stock Of cotton held in the ports Of Great
Britain greater by l5 per than it then and the
consumption of cotton we'll the disposition the part
Of the consumers to buy it. is materially less than then.
The nature of the whole speculative arrangement stated
in the preceding numbers Of this newspaper, has
length to be openly manifested in the United States In W.
P. Wrights New York Circular Of January 23d the fol-
lowing paragraph Large orders sent by the last
steamer to purchase cotton in Liverpool American
count And the purchases made, and the
mtted with the orders for purchase made public and
have been upheld by the agents for the Americans and by
their agents in this country, grave conscientious men, who
can see beautiful action Of sound commercial theory in the
evying Of contribution Of millions sterling the
abong population of Great Britain and Of the other Euro
pean States in order to enrich American planters capitalists
and SPECTATORS which millions sterling those planters
capitalists and spectators are Of course to lay for the
benefit of mankind, and particularly the British cotton spin
and manufacturers perhaps by the erection Of cot
ton spinning factories and power loom weaving factories in
the paradise Of the Southern districts Of the United States
What the heads the hearts O they have any of such
men made Of :" &. ..
We have not the of disputng statements thus de-
beatey made by journal generally characterized By it
liberal feeling and temperate tone but very much mort
approve of the which the Cotton question has al
ways been treated in the Economist The Liverpool My
curry appears have bibed of the apprehensions
pressed by the Marquis of GRANNY in the House Of Com
MONS that the United States either about levy duty
upon foreign cotton goods which would almost
prohibition, forthwith and Immediately manufacture
every pound of its immense crop Of said material home
The Economist evidently attributes part Of the great and
sudden rise in cotton speculation and says that ope,a
ons in cotton before such extensive scale
they have been the beginning of the present season.
both in Great Britain and in the United States Il, how
ever is contened with spreading the calm arguments of
and figures before the public and does not descend either
to vtuperaion ascrpon of dshonoabe motives and
combinations The Econ0ms, taking the present crop Of
cotton in the United States at 2300 900 bales, which is
2O0 900 bales above the estimate of the New York Core
spoDden of the Times and calculating the weekly
ton of England be reduced 500 bales l3O 900 bales
for the wheo Year. makes the probable stock in hand in all
the ports of Great Britain, the st of November 1850
be less by 5000 than the st of November ls4s
Economist thinks that the ruling high prices may cause
an increased quantity Of be to England from
oher countries The stock hand the six principal mar
kets OF the European continent bales the
close of last year than that of the preceding one
Coffee, which another article exciting good deal Of ate.
tlon has been dull of sale, but is rather improved demand
though the forthcoming sale Amsterdam several thou
sand bags less than expected The estimated consum
| tion Of coffee in ls49 was =.
Holland and Belgium NEUTRALITY-SUSPICIOUS.. $500
France. Is, GOO
German Customs Union n................... al, 500
Other German countries, not included in the Union
and Austria Observation-Disclosures. "a, 500
Switzerland. NEUTRALITY-SUSPICIOUS.. $500
Mediterranean countries Observation-Disclosures. II, 900
Russia. Observation-Disclosures. $500
Sweden and Denmark. 5000
Spain and Portugal $500
Cape Of Good Hope. Observation-Disclosures. 1900
United States of America. NEUTRALITY-SUSPICIOUS.. $4,000
Total consumption :. ......,...........2 257, 500