The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1850-04-26
From the New York Herald, April 20.
COTTON.

Manchester. Great difference of opinion exists
here relative to the future course of prices, but
it has. from the first moment short crop ap-
neared inevitable, been our opinion that prices
must advance great deal beyond present
points. 1t matters very little what accounts
one or two more steamers may BRING and the
reports from Liverpool for week or two later
than those on board the America, now nearly
due, are lust as likely to show decline as an
advance There is one fact pretty generally
known on this side of tie Atlantic, which is
short crop, and in the face Of that is folly for
the SINNERS of Manchester and spectators OF
Liyerpool to carry on the contest with holders
or. this side There never has been season
in the commercial history of this country, when
, we have been better able to carry our cotton
crop than this, and the lords OF the loom in
England will soon find that they have made
great mistake in their efforts to force us to sell.
They have heretofore succeeded in depressing
pr;ces for this great staple product whenever
thew have made an effort to do so, and have
supposed that the power was still in their hands.
They will soon discover their mistake; and IT
they donot have to pay for their temer!ty, we
will give it up, and let them rule prices hereat'
ter without opposition.
The three great regulators Of prices for Cot
ton in the Liverpool market are Barring, Broth
ers & Co., Brown, Shipley Il Co. and fielden,
Brothers L. Co., the last exercising the greatest
influence, and in ability decidedly superior to
the others. Their agents arc found in every
Southern port in the country, and, as class,
are remarkable for their fidelity to English ill.,
terests. The Fiedens are the largest Cotton
manufacturers in the world. Their commission
business in Liverpool, immense as it is, is sub.
sidiary entirely to their manufacturing interest
at Manchester These houses have ruled su-
pre,ne in the Cotton market and have put pri-
ces for the raw material up or down at pleasure.
This year they have received check that will
learn them lesson. Their sceptre has depart
ed. and from this time forward prices will de-
pend more upon supply and demand, than upon
the dictum of combination of the immense
wealth of few houses in Liverpool. What
we have been so long and so anxiously looking
for is upon the point of being realised. The
Cotton crop hereafter will be controlled on this
side of the Atlantic, and New York will be the
great distributing point of the raw material, in.
stead of Liverpool The consumption of Cot
ton in this country has become so great, and is
progressing with so much rapidity, that prices
for any surplus that we may have for shipment,
will not depend entirely upon the whims and
caprices of the spinners of Manchester. The
markets of Great Britain will not be so imp0r-
tant as in past years, and as our shipments be-
come more direct to the points of consumption
in Europe, we shall be better able to establish
and maintain prices Our manufacturers al
ready consume half rs much Cotton as those of
Great Britain, the ratio of increase here is much
greater than on the other side, and the produc-
ton of the raw material cannot keep pace with
the increase in consumption throughout the
world. We have shown that, under the most
favorable auspices, Il crop of two million six
hundred thousand bales is as much as can be
picked, and the annual consumption already
reaches that quantity. 1t, therefore, appears
plain, that the movements in the Cotton market,
henceforth, are likely to be highly important
and interesting.
The course pursued in previous years, by the
three houses above mentioned has been adopt
cd this, but not with equal success in fact, this
wear, with defeat, out and out defeat which
will result in Il complete route. The policy
heretofore has been to let prices up in the fall,
SO rs to bring the crop from its recesscs to i'll
crease the supply rs rapidly as possibly in the
ports, and determine, at the earliest moment,
the production for the year. As soon as this
operation has had full effect and the extent Of
the supply is known, the reverse movement is
resortcd to, for the purpose of deprcciating pri-
ces, to enable spinners and these large houses
to Law in large stocks. All kinds of reports are
circulated relative to the crop and returns
showing any deficiency are ridiculed, and state
ments to the contrary put forth, falsehoods of
every grade uttered by hcmost honorable, high
minded men in the United Kingdom, to deceive
holders and small spinners 10 carry out their
assertions, they sell free in the Liverpool mar
kct, while their agents here are buying all they
can without raising prices. On change, these
houses resort to every kind of subtcrfuge to con-
vey the impression that the crop will be much
larger than believed They talk of advices re-
ceivcd from their most reliable correspondents
that the crop is sure to be 2,300,O 600 to 2,4OO,-
900 bales In this way, and by the most dis
honorable, dcspicablc means, they almost inva-
raby succeed in breaking down the Liverpool
market knowing the effect of Il depreciation in
prices there upon the markets of the United
States. This game has been practsed this
wear. and the energies of three houses above
mentioned have been eXertcd to their utmost to