The Port Gibson herald, and correspondent., 1850-09-13

and with present rates. Exchange wear since
was selling at 99al0d per cent premium, but
gradually went down to 614a744 in February, gain
advancing and making present quotations the
same as at the beginning OF the season. Both
Freights and Exchange have, on the whole, been
in favor of Cotton during the year.
The average price Of Cotton in this market
for the past seven years, taking the inside quota.
tons Of low midtng and fair as the extreme, is
as follows:
1919 1919 sc. &C. 1888 1888 e.. e..
1886 re. lS49-5o llic.
1867 loIc
The following tables represent the product and
consumption Of the world (China excepted) for
the past eleven years. the figures for the current
year being estimated on the best data:
CROPS
Years. u States. Other Countries. Total.
1880 100000 100000 100000
l848-49 2,728,600 438,40O 3,l57, 900
l847-45 2,346,600 364,6OO 2,7Il 200
l846-47 l,778,500 358,600 2,l37, 200
l645-46 2100.5OO 202,l00 2,3G2, 500
l844-45 2,394500 256,l0O 2,75O,60O
l843-54 2030.400 424,7O0 2,465.l00
1928 2.376,90h 347,300 2.726, 200
le4l-42 1886 370.500 2,063, 100
I840-4l l,634,9OO 44l,5 500 2,076,400
l839-40 2,l77.800 100000 $685. 800
CONSUMPTION.
Years. g. USt o. CT Total
l849-5O 100000 $4,000 100000 2,750,00O
l84S-49 ,5863O0 $4,000 100000 3,004300
l847-48 ,504.500 53l 800 $4,000 3,765, 300
l846-47 2,I20,300 42S0OO 6lS,lO0 2,I66,40O
1851 ,56l 200 422600 758,70O 2.742, 500
lS44-45 SIT 600 $4,000 10000 2,73l 600
1894 ,427, 500 346,7O0 56l,900 2.336,l00
1928 1857, 700 325l00 Col 800 2,344,600
ls41-42 221 700 267.8O0 GIL 100 2,l60,600
l84O-4l l,ll8,700 297 300 558900 1914, 900
1890 ,274,700 295,200 75l,2OO 1921 100
*rhe commercial year of Great Britain ends
on the 3lst of December that of the United
States Oh the 3lst Of August: the result in se-
ries OF years will be the same.
Tothe consumption in the United States must
be added from 100 900 to l20 600 bales used bv
manufacturers in the interior, which never reach
es seaport, and if added to the amount manu-
factured must also b, added to the production.
The average weight Of cotton bales shipped
from all other parts of the world to England is
344 pounds, and from the United States 423
pounds.
The average production Of the world, per an
mum, for five years from 1870, was 2.4l6.3O
bales and the average consumption Of the same
period 2.309. 900. The average production Of
the last five years may be set down at 2 SCI 900
and the average consumption Of the same period
2,585,700. These figures reveal startling facts.
The excess of production over consumption for
the first five years was 533. 600 and add to this
the stock, at all points, at the close of $780, the
surplus On hand at the end of 1915 would be
about 100000 bales; but during the past five
years, the consumption has out-run production
62O, 500, reducing the old stock on hand by that
amount, and plainly showing that, hereafter, Ell
ther production must be increased or consump-
ton diminished, The average production of the
United States for the past five years is 0I9I,-
900 bales per annum, and for the proceeding five
years 2.025,O00
Estimates of productions in the United States
in advance of the crops generally fall below the
reality, mainly perhaps for want of due appre-
| citation of the increased growth west Of the
Mississippi river; and hereafter the rapid extern
sion of railroads east of it, must have the effect
TO bring into cultivation cotton lands hitherto un-
productive for want of facilities for taking the
crop to market.
High prices too will aid this extension of
growth not only in the United States but wher-
ever cotton can be grown. 1t is observed that
during the first six months of 1850 the consum D.
tion of East India cottoE in Great Britain was
1000 bales per week in excess of last year, and
increasing; the import OF cottons other than the
United States during the past year was 428, 400
bales against 364O00 in l848, and during the
first six months of this year the increased import
of the product of India was nearly 10000 bales
in excess Of the same period last year, the result
Of better prices.
During the last year the exports from this
country and England to the continent Of Europe,
were nearly 200. 1000 bales in excess Of any pre-
vious one, the increase being generally Gifused
except to Trieste and the Hanse Towns, where
there was some falling of in the amount; on this
basis have estimated the consumption at 900,-
coo bales, but it is not likely to be near SO much
! the present year; considering, however, the en-.
hanced value of the raw material, my estimate Of
i the aggregate consumption is liable TO consider
4 able reduction. There can be no doubt that the
\ lower orders whose resources are limited and
who compose the great mass OF consumers OF
cotton goods, will be much more economical in
! the use of them when the cost is enhanced from
| 80 to SO per cent. There seems little fear,
however, but that cotton will continue hereafter
to command very high prices compared with the
| past fen years.
| The latest accounts from Europe represent
cotton as having considerably advanced under the
influence of speculation caused by the very un-
favorable accounts Of the crop that went out ear
! ly in July, but which will probably be checked
when those month later are received. The
stock on the lst of July in Great Britain was
COS, 800 bales, against o55, 300 last year. In the
United States ports, however, at the same time
it was 10000 bales more than last year, making
mean reduction in stock at all points Of $40 600
bales since the close of 1885, and with the pro-
liability that without very material falling of
! In consumption the entire remainder of the OLD