The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-28

progiess OF The consumption OF goods
for which It ia indispensable. The position OF
tie plsnt now grwing IS snch rs to rende,
large acyarce on the prices now current fixei
faci,Ipfevidtd the ssme general causes affecting,
commerce prevail this season as last season. Wesay,
general causes because the elements which form va
Tue differ every yesitate of warfare, abundant pro-
visions, CT famine, cholera ana other epidenics &c
Cotton advanced eady in plicc and the consu mp
ticn vas extended in Europe, DUNG che whole Ci-
msa anal is disturbing elements; and yet the rich
eat merchants anc bankers were chary of il At the
open ing OF the season. and it WAS demonstrated
by tables of 6gues matbemstca,ly that prices were
ubeae, AID the consumption must be m aterally cur
taied--in fact, could not DO Otherwise the
growers were hoodwinked into taking about
sixty per cent OF lis value FOR half the crop.
The advance subsequently, WIS large, by the steady
pressure OF consumption upon supply. st the last
dates Tram Liverpool, on the l0s1 Of October, il ap
pears that The eotre stock Of all species of cotton at
Lave rpool was 307 080 bales of which the American
stock vas III 400 baes tie apnneis had sbont three
weeks supply on an average, by their own reports,
bas believed 10 be less shan two weeks supply in
rsaity, as they were still large buyers on advanc-
ing market TIE consumption Of American cotton
weekly n Gltat Britain Is estimated this year ut
&c 0Oo bales. There are less tnan twenty THOUSAND
bales st sea- and AZ ethid Of the stock ut Liver
poo! Is u too low grade to 90 into the general
wants OF merce it is very eyicent that the spin
o!ss Of Manchester must stop before the LIST Of
January tom inability at any price to procure cot
ton 20 spn; Tor other cause but that. Goods are
contacted tor there, for Elk montbs ahead, based
ppon lie prices ike 10 rule aud the goods must be
made AMI we predict hey viii be u.adc.
Tie loss OF this market ior iour six months is
a NEE blgs:ele. The great demand Low opening
in China ANA tie recovery ot the India market will
Offset IT, ane eaSe balance. The consum otion OF
Great Britain has never been other than ali iLcreas
e6 enc, when she has had good harvest. We ad-
~, That The ,ale OF interest viii be Increased aud
tha. it VIII he OF " checked by the too severe pres
suie exercised on ire agricultural ard industrial
manufacturing Interests; with tie cteapening Of
food she s1e els The consumption at home and her
exports are dependent upon the chespness of her
abui'y to manufacture. The grain crops all over
the continent Of Europe excessive and the same
central laws govern. France has a superior vine
crop, and fair silk crop, ard good agricultural
crop Ctttgn al Liverpool was quoted at o5d tor
m:sdlirg grades On that cate, which is equal
10 So. sterling at New Orleans; whereas 1t is
selling ri New Orleans now ut H. to sd. sterling
The price existing al Liverpool is the price the
sumption pressed it TO- ana manufacturing IL at that
rate is a profitable busIess in Great Britain. for
goods 90 OF rapidly and there ae very light stocks
at Manchester; probably they were never smaller.
We can cite an instance to illustrate ths:-Mr. w,
of thus city, very heavy importer of staple British
erv goods anticipated r1is pressure about six weeks
ha oh. +ioaI
reduction in prices, and counte rmsnded nearly The
whole ofhs Nanc hester orders, directing tine goods
e. be reso "a made, and the contracts sold ont. BY
the Europa lie hos aovices ct sales at 4 profit for
tie supply of The British consumption. Of his whole
s;oeb suc orders The maike's NJ tbs side being
ALREADY three pence serpg or six cents, under the
market u. Liverpool, arising from the forced
sales Of ooosiebees to meet their acceptances,
ard the inability Of oiowo Of purcha-
sers 10 make shipmehts. owing to the
irrnos>ihiiity OF negotiating EXCHANGE On London
ara Paris, !, is mt likely that The growers
will hurry their crops upon sucb q market, when
high prices is simply a question OF time, and
the dow 81 geld to this ,ection ia continuous
sirtam, 4 lag of nature. The crop IL likely to be
smaller tlsn the last one, but il frost az the South
should no. occur before the 10th Of November. 1
rpay equal the last,-ssy nearly 600, 600 bales
winch croo, although Itself small one, being
nearly SOC 900 bbes les than the year preceding II
brought into the country nearly S7,000,000 more;
which proves that the consumption overlook the pro
cur.icr and NJ an enormous gs,iop England will
receive n India cotton tic next season, and will
the-scIe EEL the greatest urgency to get hold Of
tots crop AZ q lor figure, Mt an early date. The
stopping of or spnd.es is only temporary, and our
consumpt on CT the raw material will not fall OF
100 600 bales The loss OF the India crop Is epnal to
a oss OF $50 900 bales OF American cotton anu if by
any means. which IL now clearly impossible,
this crop touia he swollen one million OF bales We
predict that The average price Of the season would
no. be more than penny under The past one; and
as that I. impossible, and the crop must be between
500 200 bales under or 100000 over the last one,
with billing frost on the ist Of December which is
about as ls;e as can be looked for it follows tina. the
oy of ce ID into the South for cotton will no. depress
the spirits az srOwers but il likely 10 put tGero on
tteir s,ts al TO distant day. From the position OF
the word 10 consume we predict that tbs crop
OF cotton will bring INTO the United States greater
volume u morey tbau apy heretofore, by from five
Ia ten millions Of dollars. The fear is that next
SPIN the rebound vii 30 too great from the ins
ton Of IRE paper currency on the s,es5y importa.
ion VI t. pise.Ois I1tts.s.