Daily Richmond times. [volume] (Richmond, Va.) 1849-1850, 1850-01-07
Monday Morning, January 9TH, 1850.
COTTON TRADE,

The COIION TRADE.
We published, Friday some highly interesting
specuations on the subject of the Cotton Trade,
which were chiefly quoted from the "London Eco
nomist" by correspondent Of the National Intel
ligencer. One statement particularly deserves
American consideration We allude to the fact,
vouched for by the Economist" that four millions
Of British subjects derive their support from the b-
si1leSS Of manufacturing cotton, to which the
United St ties contribute more largely than all
other countries besides. As question of national
policy, it would surely seem not to admit of ar
gument that it is the interest of the United States
TO retain for our own citizens this vast resource of
national wealth. But it is the theory of American
free trade Gas it is called to support these four
millions of loyal subjects to Queen Victoria, in
order that they may furnish purchasers for our
raw cotton.
Happily pertinent to this subject, we find in the
New Orleans Picayune, an important letter from
Liverpool written by gentleman, who, the editors
say is ga well known agriculturist of Alabama"
After commenting, with much force, on the bad
effects of throwing large quantities of cotton, at
certain periods, into the foreign markets, and ex-
pressing the belief that it would always command
an average price of 10 to u IL cents for years
to come, if the planters would withhold it Judi
ciously from market the writer says:
The successful introduction of steam navigation by
has opened up vast markets for cotton goods,
known to the world as consumers OF our fabrics few
years ago. When you and were boys, young lady
considered herself becomng dressed for a.ba we'd
ding without an India muslin robe; now India and the
vttl nrf,n
all kinds OF cotton goods from England France and
the Continent take fully half much OF the raw
material England does, and they urging forwards
and increasing their manufactures with great ardor and
see that the Southern States are being awakened 10 the
importance Of this subject; God grant that it may con-
tnue and extend. Instead Of increasing your culture
invest your surplus in manufactures thus rendering your
cotton crops OF good price, and at the same time
large profits from the manufactured articles. Another
reason why think prices will be maintained nltuture
u.s. that consumption has overtaken the production The
surplus stock OF American cotton ill Liverpool was
S0S 100 bales the 3ls December lS45 the stock re-
ported last week only 245 $40; allowing the average
weekly consumption Tor the remainder OF time it must
be reduced to even below 100 900 by the 3lst De-
cember next with the certainly of the incoming crop
being very deficient. Indeed, from what saw and
knew of the state OF the crops be left the United
States, with what have heard since, | should not be
surprised should less than that of 1896
which l,77S65l bales; shou this prove be the
case the crop not reach much above 600 600 all
who hold to their cotton will get well paid Tor before
May or June next The wants of the world require
three millions Of bales at least for which It'll mainly de-
pendent upon us; or all this boast OF lndas Egyptians
Penams, Surats, Paestines &c, &c. and "other coun.
tries," that they parade so osenlatiously before
the public, amounts in fact to nothing; many of
these bales not larger than good plantation meal
bag, and hold about much Having glanced at the
Importance OF pressing forward our domestic manutac-
tories, allow me now TO give you an extract from work
OF Mr. Burn the statistics OF the cotton trades he says
The value of the whole export of British and Irish
produce Tor the last three years has been follows for
1874, f50646, $685. for 1915, f53 29s O26 for 1916,
yarn formed 1874 f25 sos 1888; in S45 f26 10 33I
a 1896 Frs 600 $685. so that onehalf the oaLue Of all
our exports consists Of cotton mandctures, and moi
than third fourth of this large amount
arises from the cost of the material hich aoe pay
to foreigners at the remainder actually enrich-
'ng our o1on country through the skill and labor Of
manufacturers and factory Operdtiues''
Comment on the above is unnecessary Go We, and
do likewise remembering at the time that the first
next best thing to cash in hand is cotton, next to this,
mules and jacks to spin it into yarn and that when
ton is low price, nothing will pay good so Ger
tain an interest by being kept Don't think that old
Ton Is unsaleable quite the contrary; there was lot
sold here week ago that had been in warehouse
here since 1928, and party priyy to the purchase told
me that st opened up beautifully Oh no, don't be
afraid, bale up your cotton and lay away carefully
bank notes. until called for by the demands OF trade at
remuneratng price, above all things keep it out of the
markets as much possible during the months of De-
cember, January and February.
We ask the reader to mark, especially the stri-
king quotation, in this extract, from Mr. Burns
work on cotton statistics, and comparing it with
the London Economists statement of the number
of British subjects depending on the manufacture
OF cotton, to answer to himself the question, whe-
Their it is not within the power and is not the poll
cy of the United States, by wise system of pro-
lection, to secure to our own people the vast bene-
fits which we are thus lavshing upon Great Br-
tain ?
The advice of the Alabama planter to his bro
Their planters in the United States, is undoubtedly
sound. Let them encourage domestic manufac-
lures, and they will provide nearer and better
market than they find in England, and Moreover,
whilst they will by so doing powerfully contribute
to build up the agricultural and commercial pros
perity of their own country, the British and other
foreign markets will still be as open to them as
ever.
r,JIr ylTr Tu,f>n