The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1857-02-24
TEE corroN INTEREST.
We copy the following highly interesting
lrticle from the Washington Union:

We copy the following highly interesting
article from the Washington Union:
Among the mass of information found in
our foreign files by the Baltic, nothing APP
pears to US more important than the pro-
ceedings of meeting of the manufacturers
in England in regard to cotton. 1t is an
nounced officially, by English authority,
that at the end of this commercial year
there will not be one bale Of cotton on hand
in Liverpool.
To appreciate the immediate Importance
of this great commercial fact, glance at
the question in its many qualifications in
Europe is necessary. In 1916 the g stock
on hand' in Liverpool was over 100000
bales American cotton, or twenty weeks
supply, working full time; in 1856 the stock
on hand was 332, 900 bales, which, allow
ing for the additional number of spinners,
furnished only eight weeks supply. Esti-
mating the present crop at 100000 bales
"a liberal estimate-the increased demand
for the raw material all over Europe. from
the Baltic to the Black Sea, will take up,
at high figures, every pound of that 3,00O,-
900 bales, work up the present limited
stock on hand, and leave the markets of the
world bare There will not be one bale
of surplus cotton in Liverpool" The in
crease of consumption over produce during
the last ten years, has been at the rate of
1864 per cent. against 9.77 per cent. This
shows an increase of consumption over
production of 6.97 per cent. for ten years
Before the year 1916 the proportion was
the reverse.
If this condition of things continues, the
market in October, 1853, will open on cash
for every pound of cotton we can possibly
produce or spare from our own manu-
facturers.
1t appears, from the various data before
us, that this destruction of the surplus at
Liverpool, and with it the monopoly so
long exercised by that market, is owing en-
tirely to the policy inaugurated on the
continent of Europe during the last six or
seven years. The spinners on the Rhine,
in Holland, in Belgium, and even in Austria,
formerly purchased their supplies in Liver
pool. Russia alone took at the rate of
100000 bales of our cotton annually from
the English depot. The movement to estab-
lish a direct trade between the American
planters and the continental spinners, gave
sudden impulse to the cotton manufac-
turing interests throughout the continent
The Prussian Commercial League gave
attention to it, the Netherlands Trading
Society took it up, the merchants of Bre-
men. Hamburg, and Antwerp, entered into
it, and the continuous agitation in the cot
ton States of America attracted the atten-
ton of those European official influences
always on the lookout for important move
ments. We find the duties on cotton were
first reduced and then repealed. Every
drawback to the free importation of the
great American staple was removed, and
at last the peace policy of Russia adds to
the imposing character of this great COM
mercial and industrial party on the CONT
nent of Europe for direct trade with the
cotton growing States of America.
With the surplus at Liverpool destroyed
with the monopoly there broken up, and
a direct trade based on the continental de-
mand, thus a fixed and leading feature in
the cotton trade-the United States pos
sesses another bond of peace, not only
upon England, bnt on all Europe.
The English manufacturers are calling
on the East India Company for assistance!
They had better rely upon peace with the
United States. Nature has settled the
matter: Cotton is King, and the planters
now control the power.