The Camden weekly journal. [volume] (Camden, South-Carolina) 1853-1861, 1854-09-26
3CCo,ffSnlli

Cotton. . :.
We extract the following paragraphs homsthe an
nual circular Of Messrs sRosder sDeSausspre Of
Charlestons Is 81 -. :
nDufing the year under view, commerce has suffer.
ed under great depression nearly all descriptions OF
provisions have ruled at high prices and the money
market has been stringent: an extreme point and
these have been the entire season:
much has been written on last point many causes
suggested and the opprobiumi castor the IN:
lStitutons. ~ 80 49,! y -.@..s
While we admit that the banking institutions:hase
devoted larger proportion ofthe capital TO
than has beenconvenient to- the wants OF local COM
merce yet as this sringency has not been confined 70
one locality, but has been felt with equal severity
throughout the United States from Maine 70 Texas
we must look bcyor small local causes for this de-
ransement of tie finances he country, and see
three prominent causes which bear heavily rami-
fy.themselves extensively into, this subject
In 1923 the low rate o. interest in Europe sent
orre amount of European capital 70 the United States
which was loaned out 'on CALI in the fall of 1S53the
rate interest beganto in Europe and funds
have been gradually recalled, depriving the United
States commerce of alargeef floating capital and caus.
ing the strngency in money under which we are now
laborng, to commence last October.
The European war, involving the largest CONNER
cial nations there has created great want of conf.
dence in trade, and kept exchanges at a. low point
with the United States causing also an unusual
export of our breadstufs and thereby enbancing
price both Of provisions and of labor 20 ~
The mereha1ts in their cotton operations this seas
son. have had little margin to act upon and have
most generally been losers which obliged them to raise
funds from other resources to meet their losses
In looking to the approaching season, we have eVe-
ry believe that the crop will beas large aone
as has ever come market and unless peace is re-
1,ok
will not be maintained Wewould therefore recom-'
mend our friends rather to push their cotton forward
early, than to keep it back for better prices and we
point to the following causes bearing uponthe u
ture prices OF cotton: Z, Etg o.: &.
Europe must make heavy drain upon our abun-
dant provision crops for in addition to the large amount
of aborers taken from the fields to recruit the armies
it must be remembered that the seats OF the war are
upon the Baltic and Black seas which may be called
the granaries Of Europe This will make. provisions
high and labor dear both Of which have always been
found to depress cotton.
The large number of vessels lost in the fall Of 1853
have not been entirely replaced; while long voyages
to Australia, Chinca, and California are employing a.
greater number Of vessels; the European dfhcplues
also have taken many vessels out of the SER
vice to actas transports and store ships for the armies
aud naves, these combined make vessels scarce and
freight high and are adverse to the price ofcotton
Andlastly the Russio Turkish war; with all its pu;
rious effects upon commerce. seems far removed from.
any prospect of termination Tor many months to Gomez
We close with the remark tha: baggng and rope are
likely to rule high during this seaso1 for the usslan
hemp cannotbe exported from that country and the
crop Of the United States is not adequate to the wants
of tie trade; while the prices Of gunny bagging Tor
twelve months past had got down to so low point,
that the East India merchants found
article ofimportation and supply whichis coming
on this seasonis reported to be very small" ;"
~ r-sas--e>-5 ~. - E-tss4 =
THE CorroN TRADE-The New Y ork Price Current
publishes the official statement Of the cotton crop for
lS33-54. The total amounts to 1927 sos bales, or
335 274 less than the one preceding The export to
Great Britain has been 1908 $50 bales being adecrease
of S33; II as compared with last year: To France;
374O5S bales, decrease, 81 GIG To Northof Europe,
1866 l72 decrease oO5 To other foreign ports, II
l6s; decrease 46s Total exports, 93l 14S bales
decrease as compared with last year, ZOO 352 bales
The quantity taken for consumption in the United
States is 70of SO bales or 40 less ,than last year.
The amounton handn theports Of the United States,
including Augusta, and Hamburg as well as Boston
&c. is S66 bales against 1885, 643 bales last year,
The stock on hand in the usual shipping ports is
q bales, against last year. l06.340 ,,I.s
- Shippers and spectators during the have
ing upon the article in foreign markets aidedln
sure by the heavy cost Of transportation Planters,
on the contrary have every reason to be satisfied with
the result OF the years business since at time du
ring the season has Mddling in the Southern markets
been sold below Il cents per lb and during four
fhs of it the price has varied from cents per h.
The prices for the ensuing year will depend chiefly
on the probable extent of the growing CROP but the
war and its attendant circumstances will have pow
erul Influence in Europe in checking speculation, and
confning the operations in cotton to legitimate pur.
poses TO this fact it is stated merchants seem fully
alive and there seems to be determination to avoid
cotton as an article Of speculation until the future
gives better promise of good results than can be at
this moment discovered.
Diabolical Attempt. y
We are grieved to be compelled to record
such an offence as the diabolical attempt made
on Monday evening to throw the passenger car
off from the high tressel-work at the upper end
of town. and opposite the dwelling Of Mr. Jas.
R. Aiken. 1t appears from the statement of
Mr.. Fowler, that some one had deliberately in
a spirit of fendsh mischievousness laid rail
across the track, which if the train had passed