The Mississippi Creole. [volume] (Canton, Miss.) 1841-1851, 1850-01-19

lial letter to an old friend, without even
the most distant view to publicity, but
which al the instance Of some friends
here, permitted to be Autographed,
with all inlperfectons as you see it.
It appears to me that much injury has
been done in years past to our cotton in
terests BY the cry. Of ovei production,
the effect Of which has been to create a
panic Of distrust among producers, and
disposition 10 regard It as thing like
the iIch--to be got rid Of as soon as pos
sible, and It is this feSling which we have
TO combat and correct. And | consider
it the daty ofths Southern press 70 en-
deavoF TO disab buse the public mind on
this subject; and lead it by facts and ar
guments, to look upon their hard earn
ed produce in different light for the
future-as an article Of intrinsic land
to no inconsiderabe extent Of fixed
value, which if not commanding a fair
price in the mar el to day, will tomor-
row. And why should our planters thus
regard in On all other property or pro
duce they fix a limit below which they
will not sell. Cotton alone, the most
important Of all other interests, they
tumble into the market, to be sacrificed,
or sold at whatever price the purchaser
thinks proper to offer. The consequence
ls that in the seasons Of abundant or
rather redundant supplies in Southern
ports, the screws are relentessly applied
both In New York and Liverpool 10 de-
press prices to extreme low rates, until
the bulk ofthe crop passes into the hands
of SPECTATORS, who pocket $l5 t. $40
per bale profits. This scene is now being
enacted with great spirit by New York
operators, and Notwithstanding the pres
ent favorable social and political position
Of Europe, and its comparative destitu
lion Of this aiticle, so necessary to theiI
very existence, together with the GER
tainty (in all uDprejudiCed minds) Of q
very deficient crop, yet we SEQ this mar
Eet depressed and inactive. through the
ipstrumentality Of parties in New York.
who represent the crop as likely to turn
ont fully an average, say from 100000
to $500 900, and n any, very many, both
here and in nManchester, expect us to burst
upon them with a crop ofthrpe millions.
Under this state Of things, and TO defeat
these gentlemen, it will only be necessa.
ry for our planters to limit their cotton,
and instruct their factors 10 plant them.
selves firmly upon 12a TO Is cents, and
get il as easily and as certainly as 10
cents. The great argument used here
in favor Of half crop is the astonish-
ing rapidity with which cotton IS deliv-
cred into the ports, and the willingness
TO sell al current prices; for say they, il
the crop was really short, planters would
not be so stupid, OF their factors 50 un-
wise, as TO accept these rates, under the
preseut aspect Of trade, which was never
better. il so good, and the present rela-
ton between demand and supply. Hence
our spinners have been luIIod 10 sleep,
by the syred song Of abundant supply
piped over herr by every steamer since
the receipts have proved large, and have
absolutely kept out ofthe market, hoping
thereby, and through tn s large crop
which, they even yet expect, TO put down
prices ut Aid, This state ofthlngs, how
ever, cannot last much longer; they are
rapidly using up their home or private
stocks, and although that in Liverpool
appears to diminish slowly, yet rely up.
on it the cotton is being used up very rap
idly. They have another object in view
too, which is to present to the pubic as
large stock as possible on the lst o.
January. Another reason for the pres
ent quiet market may be found in the
fact that certain we'll known firm Bro
kers) in this place, holders Of a certain
lot OF 10000 bales Of Amercah cottoT
held over since last spring, have leceiv
ed pre-emptory orders from head quart
ers, New York to sell, and this cotton
has actually been forced through this
market within the last fortnight. Thi'
alone was sufficient, as it was doubtless
intended 10 break down tho market. Ye
with all these adverse causes, the mar
ket, though not buoyant, remains firm
and will take its future tone from th'
state Of affairs in the cotton regions
Place no sort Of reliance upon threats Il
stop-work short--spiu fine, or any o
that iuggIery. Who over heard Of
Manchester proprietor spinning fine toI
fun. The fair presumption is they spiI
Just such as they have orders or Ger
tain market for, and none lother. Al
that is necessary for our people to put
price upon their cotton as these do uPol
their goods, and my word for il, all viii
be wall. Such stand, taken in Southern
ports, based upon the probable dehcle1
! cy of the crop, would Immediately tel
: upon this market, by convincing spinner
: that tharR was an actual deficiency &