The southern press. [volume] (Washington [D.C.]) 1850-1852, 1850-09-17
No. 20.

Abundance of food and money, and general
| quiet are the elements of prosperity. The pros
Pect of the abundant supply Of food every where,
| has scarcely ever been equalled In Europe, the
prospect of the harvest is fine, and for very low
| prices Of food. The amount of bullion in the
| Bank Of England is about Gig, 900, 900, and the
amount in the Bank of France is about the same,
| and the rate Of interest is very low. The Bank
Of England discounts at q per cent, but nesotia-
tons out Of doors made at i per cent. per an
mum. Spain reposes from her long continued
wars---Irish disturbances and distress are no more
heard of, and the whole world is Mt peace, save
the little kingdom of Denmark and one Of her
Dutchies, which affair will surely ere long in
some way be compromised. The policy of ma
tons is turned towards peace. Then considering
that in no event can the supply Of Cotton equal
the demand for the manufacturers from II, and
that It is sustained by all the most powerful inlu
ences, consider thai the range Of prices another
| year must be high. II may go above anything
| we have known for many years. In making this
enunciation, cannot forbear to call your atten-
| ton to my remarks on the subject of prices in my
Circular of 9th january, lS49, :" Bright skies are
now decidedly before us, the diminished con-
sumption of the past two years leaves all the
markets bare of manufactures, and with the resto-
ration Of confidence in France, &C., will have a
| tendency to advance and sustain prices for the
present season, and may reni,re the opinion,
that prices year. tcH be greater than they may
reach this. The era ofow prices is, in my opinion,
positively passed. AT the date of that Circular,
MiddIings were quoted at 5sc.---they went on adj
vancing last year till they touched 2, 8, ., and
I0c. and this year they have ranged at 10 to I2sc.
The latter is the quotation to-day, with an adj
| vancng tendency
| Gratifed, as | sincerely am, that | feel war
| ranted in placing before you so encouraging a
picture of the future compared with the present
| prlces---as 1t has been a prominent object OF my
| Circulars, to keep before you the method by
which we might attain this position, and by which
we may also secure its progress and continuance,
pardon few remarks suggested by that desire.
! l have shown above, that the enormous receipts
of Cotton last business year lS4S-N9, (2,729 ,O0t
baes,) sold for SIT 200, 900, and that the crop OF
4 this year 80, Of about 2O70,0O0 to 1880,
! 600 bales has sold for Sl07 900 ,0O0--that is u
| crop of $40 900 to 1000 bales this, less than
that of last year, has sold for 100000 900 more.
Now is the time rapidly to multiply your advan-
| tages. Cast around you energetically for1new
modes OF investing your accumulated and nccu-
muating capital. Invest in Cotton Factories,
| Iron Forges Coal Mines, Railroads, timber get
1 ting, &c. Some may fear that while Cotton is
high, manufacturing might not be so profitable
If Cotton Factories were fostered and multiplied
| in number elsewhere, while Cotton was high, and
with machinery SO far in the rear of all the lat'
improvements, You surely have no cause now Z
! fear. If you are uncertain what styles of good
to manufacture, prepare to spin IT only, III
machinery does not cost much, and the operation
L is simple. Ol ~ DOunuS-eQudl 10 aDOu
4 900 900 Of your bales Cotton--of Cotton Yarns
A were imported last wear from Great Britain an,
i all the warns her manufacturers weave up, the,
purchase from the spinners. who are distinct ope
4 rators from The weavers. Hence. were YOU 4
! spin up the whole crop of Alabama into the re
! ouired numbers. your demand here for it would
i lie ne good as Il ia for vour Cotton M about do,,
DE the price for mound Of the spui, over the raw
1 Cotton @ iT8 t
| N In conclusion allow me IN recommend. that al
these enternrses he entered in the shane az Stoc]
Comnnn;es. aa there Is in This arrangement 3
canital. ines,mnble ADVANTAGE To this svs,ef
of associntino enterprise labor and money. ! is /
he ascribed he ran;dlv Increasing wealth Of Enp
i, land, Massachusetis- New York &c and admits
y Won will nerceye az n mutinlcatio,, almost in
r definite TO illustrate: with your bona fde can
taI and labor Won start factory. Ten stock
holders have each s1O. 600 IN lin operation
pavs them saw about ne per cent.--thev desire
: buM another-thev take their Stocks TO thos
rich old oentemen who do NOT care 10 embark
, those THINGS and ask 10 borrou, their a,anev n
it-thev Gladly lend il at saw g per cent.-wel
The ma rt;es 90 on and hnId another mi each e.,
pether is 40 ner intake the 8 per cent. of
AZ, e. n. -, - JX.,d !. -,