The Port Gibson herald, and correspondent. (Port Gibson, Claiborne Co., Miss.) 1848-18??, 1851-01-17

have been unprecedentedly large. The home
and foreign demand heing both good, the sacto-
RES have run full time in spite OF the high price
OF cotton. This never occurred before, and
cannot be expected again with any considerable
conhdenee. Atevery former period an advance
IN the raw material has checked the demands of
the factories, and lessened the purchases of the
consumers. For the coming year everything is
fully as favorable as the last; and If these favor
able tendencies have counteracted the tendency
OF high prices in the raw material, it will be
proper TO expect the same for 1851 as for 1850
We may, therefore, set down 100000 bales as
the probable English consumption for the next
year.
In France there has been decided decline
table KID in the deliveries TO the mannfac-
turers. Our exports have fallen from 552,-
600 bales to 100000 and the stocks on hand the
LIST OF October were almost exactly the same as
last year. The purchases al Havre for the first
nine months of The present year, have been 249,-
900 bales, against 100000 in l849. From
these figures we cannot estimate the consnmp-
tion of American cottonfor the present year high
er than 300.0 900 bales, against 351 900 for $40.
No advance on this can be expected for the next
year, nor is there any reason to anticipate any
appreciabe decline.
For the rest of Europe, we have the exports
from the United States for the present year 1874, :
600 bales, and the exports from Liverpool up to
October 1ltb, SO 900 bales. The whole Eng
iish exports Of l849 were 254,000 bales and as
their amount on October 18th was 81 900 more
this year than last, the whole exports for the
year from all the ports will probably reach 275,-
900 bales, making the total supply from these
two countries Of 469 900 bales. As the stocks
on hand on the continent last year were very
low, it is impossible to reduce them much lower.
They are now, however, at several ports, lower
than last year, so that the consumption will
probably exceed 469, 900 bales. As this is a de.
cline of over 100000 bales from lS49, it is not
to be expected that SO low limit can be reached
for the year 1851. Heretofore, their progress
has been forward and rapid, and were it not for
high prices this would continue II we estimate
| their wants for 1851 500 600 bales, we have the
bales-the same as the supply. As the stocks
are now much lower than last year (table XIV
and as they were then very low, they will bear
no further reduction wilhouta material advance
in prices. Ontbe contrary, any decline in price
would Immediately permit the consumption to
expand, not cnly in France and the rest of the
continent, but even in England. We may ex-
pect, therefore, that the present high range o.
/ prices win be maintained.
The review that has been taken Of the supply
and the demand shows that the present advance
in cotton is the result of no speculative move
menf, but that it is based on the immutabe laws
of trade. The long prevalence of low prices
has stimulated consumption and diminished pro
duction. until the stocks on hand have fallen t.
an extremely low limit. Exactly at this point
an unfavorable season has .essened the crop, ant
an abundant harvest and every other element o
general prosperity, has encouraged the demand
We congratulate the planters on the handsome
returns they are receiving for their crops, ant
we may extend our congratulations to the whole
country, for what benefits them is benefit t,
all.