The Port Gibson herald, and correspondent. (Port Gibson, Claiborne Co., Miss.) 1848-18??, 1851-04-18
Prlces .f0r and pfoductloq Of Cotton.
: ESTIMATED.

This table does not show the fluctuations, and
therefore gives no idea of The sudden changes
which are so frequently experienced in the mar
ket value OF this important staple. 1t is inpos-
sibIe 10 point out all the causes that operate up-
on prices. The industry of the world is so
closely connected with this article, thai prices
are probably more sensitive, and are effected
by more influences, than any other product OF
This or any other country. The currency has
at all times powerful effect, and is probably
a greater regulator than ANYTHING else. This
is illustrated By The high prices current in 1885,
1886 and 1887. At that time. the banking
movement of this country was enormons; pri,
ces for every species Of property were i'm
mensely inflated; and The manufacture and con.
sumption OF silk, wnnien and cctton fabrics,
were on the most extensive scale. The pro-
dnciinn of cotton in the years above named.
was comparatively limited; and the demand
for manufacturing purposes was greater in
proportion to the supply than it has been
at anv time since. 1t is true this demand
for consumption was caused partially by the
enormous speculative movements Of the dav.
and The ease and rapidity with which fortunes
were made; but the principal canse OF the ac.
tiviiy and high prices current, was the impulse
a lew years protection had given to our do
nestle manufactures, and the competition
which was then springng up between the ma
nufacturefs Of Great Britain and the United
STATES That competition has since extended
and increased, and is at this moment going on
with daily sugmenting force and energy.
The production Of The raw material, several
years, since the period of high prices. has been
50 large that it has greatly exceeded the con-
sumption, and Of course prices have fallen to
verv low points; but wiibin the last two years
the supply of cotton has been so much less
Than in the three years previous, that prices.
would have advanced, merely under the in
Hnence Of demand, independent of the California
movement in any shape; but without the impe-
tus given to trade and commerce by the re-
ceipts of gold from California, without the new
markets opened in that country, without the
means given for extra consumption of manufac-
lures of all kinds in all parts Of the world,
prices for this article wonld not have reached
the high points realized within the last twelve
months. The prospect relative to prices is by
no means favorable. The crop now coming
to market win mt be large. II will not be
equal to an average OF the previous A years,
while the consumption has been steadily in-
creasing. There has not yet been, any defici-
ency in the supply, but the stock on hand has
been considerably reduced, and the manufac-
turers are making full time with a small supply
on hand, with the irpre~son that The crop,
now going into the ground. will be larger than
ever before known. The manufacturers Of G,
Britain have managed the cotton crops of the
nast two years admirably for their own inter,
ests under existing circumstances. But Tor the
ponderous power they WELD in the financial
world, they would have been completely crush.
ed. At one time il was our impression that
We could control our cotton crop, but the re-
suit has shown that we are not yet strong
enough to contend with the carrying and con-
suming eapitalists oil England When we get
to be greater manufacturing nation, and can
command a greater amount of capita than at
present. we may dictate terms 10 the cotton
spinning lords sof Great Britain, and control
the movements Of this great staple.
Il Is the impression here that prices for cots
ton viii. frnIa this time ont, gradually settle
down. The crop now coming to marked will
exceed that of 1919 and 1850 nearly 100000
bales, and the planning season never has been
more favorable than this year. The probability
is. that greater breadth OF gfnuhd viii be put
| in cotton this year in ibis country, 8han ever
before known ia tha history .of the plant. :.
NeD York Hs@1gd.