Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1855-02-01
From the Liverpool Times, .7an 6.
LIVERPOOL ANNUAL COTTON REPORT

The history of the Cotton Market considered
simply in ITSELF and apart from extraneous infuen-
ces during the past year. is not very remarkable for
any peculiar circumstances attending it. Prices
have not huctuated Importantly from one month to
another although the total decline since the lst of
January last has exceeded 3D. per ID. This under
| the various events that have occurred during the
period, may be deemed as not so great change as
looking at the question generally might have been
anticipated but the fact is that with an expensive
war; high prices of provisions, and dearness of mo-
| new the consumption of Cotton has always been
| maintained on an extended scale The month of
January was one of trihing decline, notwithstand-
| ing that the receipts into the American ports at
| that time indicated what was subsequently, found
to be the case that the crop in the States would
| only prove moderate one. The result has shown
it to be 927 GOO bales against 2877, 900 bales in
1858. But counterpoise of this, the strike at
Preston excited uReasness and there seemed no
probability Of the difference between the workmen
and their masters being soon arranged. February
created no alteration The general demand and
the large consumption gave security and frmness
to tie market which was only modified by the ap-
prehension of war, which then seemed on the eve
of being declared During the following month
the declaration of war was made on the part of
England against Russia, and if little doubt were en-
tertained OF success, yet the contingency threw
gloom on the proceedings of trade and considerably
limited the operations of all parties A decline of
ID. per h. was the consequence of the feeling
which was engendered. During the succeeding
month ID per h. of the fall was recovered, and the
demand for Cotton increased, with this confidence
revived, both on the part Of buyers and sellers.
The month of April was one of arrangement,
arising from the circumstances of the Bank of Eng
land raising the rate of discount to 81 per cent,
and from the arrivals ofCotton being large-the re-
ceipts in this month alone being 100000 bales,
against 238 900 at the period III the last year.
and while the better qualities, from their scarcity
continued tolerably firm the middliug and lower
descriptions from their abundance, fell ID to 81
per ID from the quotations of the month preceding
Induced by this decline the trade during the month
of June entered again more largely into the mark
ct; but the choice being by reason oil the Ete ar
rivals much increased-either, however, from the
necessity of the desire to realize operating upon the
minds of importers,-in spite of the transactions
being very large,-the improvement in prices was
only Id per h. Spectators and exporters operated
to the extent of $4,000 bales during the month Of
June and this tended TO give better tone to the
business transacted. The month of July was gloo-
my and adverse. Fears began to arise as to the
harvest at home, and accounts as to the Cotton
crop being more fatering, together with the advi-
ces from the seat of war not being so encouraging
as had before been expected the desire to realize
was again augmented, and though holders feeling
prices to be so moderate and so unremuneratng,
hesitsted before making aHy material concession for
the purpose of eecting sales yet the temper Of the
market was somewhat more anxious, and the wish
es of the importers more evidently in favor OF d.
minishing their stocks.
During the month Of August the wishes seemed
to increase in intensity for though Cotton was
not forced off yet it was offered so abundantly and
with such disposition to SELL that prices gave
way 3l6d. per TO-. and the tone was so feeble that
a further decline was evidently at hand. This was
counteracted to a certain extent during the month
of September, BY constant inquiry from the trade;
so that holders finding the wants of the spnners to
be urgent and calculating that the arrivals for some
weeks to come must be moderate, and that stocks
would naturally be reduced, rather took courage
and though several very large commercial failures
occurred during the month and by their magnitude
affected public credit yet they so entirely in
dependent Of and unconnected with Cotton, that |
reference the prices of this article these failures
exercised little direct or immediate influence |
Throughout October there was a continuation of |
those same causes which had so far been unpropi-
tious, the rates current were so low, that holders
though still anxious to sell, did not feel justified in
making any sacrifices of importance and with a |
market tame and inspid in its character there was
vet no further decline. November was a month |
long to be remembered from the events which oc-
cured IN the East; and the disappointment conse-
quent upon the holding out of Sebastopo was
hardly counteracted by the brilliant success of our
army outside the walls The present month has
been one of gradual further decline in Cotton and
continued gloomy arising from the bold front and
strong position which Russia still continues to
maintain