Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1857-11-13
From the Ne,C York Herald.
The Cotton Trade,


materially depress the price of cotton permanently Or
temporarily? At this period of the year the cotton
grower has friends. AT the opening of the season
for the deliveries of the newly grown crop its extent is
magnited-trade is always depressed, goods are abun
dant and from the tenor of articles this subject,
dsnteresed party would find their reasons so plausible
that large overstock at all the cotton depots at the end
OF the year would appear certain and fall in value to
about oneha twohirds of the current prices of the
day appear to be fixed fact anything in the future
be; and yet let the crop be what it may it all dis
appearsand in the of the past two seasons, term
mate at twenty-five to forty per cent the supposed
extravagantly high prices Of the commencement
The cause of this is very simple one-it is the course
OF nature; and combinations of banks, capitalists
or manufacturers combined withstand it, for it arises
from the inability of the production to supply the con-
sumption. The spndes of all Europe and the prosper
ty ruin of thousands may say truly of hundreds
OF thousands or millions of people, depend upon the cu
ture of this annual plant In small part of the United
States fross, worms and hundred of accidents inter-
venng steadily between sowing the seeds and picking the
CROP which, with all the care bestowed upon its culture
and the inducements of certain sales high prices has
fallen back, instead of advancing in proportion to the
steady progress of the consumption of goods for which
is Indispensable The position of the plant grow
ing is such to render large advance the prices
current fixed fact provided the same general cals
affecting commerce prevail this season as last season.
We say general causes, because the elements which form
value differ every year-state of warfare, abundant pro-
visions, famine cholera, and other epidemcs &c.-
Cotton advanced steadily in price, and the consumption
was extended in Europe during the whole Crmean war
and its disturbing elements; and yet the richest
chants and brokers were charry of it at the opening Of
the season, and it demonstrated by tables of fig
ures mathematicaiy that prices unsafe, and the
consumption must be materially curtaed-n fact, could
not be otherwise the growers hoodwinked into TAX
ing about sixty per cent of its value for half the crop
The advance subsequently large by the steady pres
sure of consumption upon supply. At the last dates
from Liverpool the tenth of October it appears that
the entire stock of all species of cotton at Liverpool
three hundred and thousand and eighty bales
OF which the American stock one hundred and
entyone thousand seven thousand and sixty bales the
spnners had about three weeks supply on an average
by their reports but believed to be less than two
weeks supply in reality, they still large buyers
on an advancing market. The consumption of Ameri-
cotton weekly in Great Britain is estimated this
year at thrtysx thousand bales There are less than
twenty thousand bales at sea, and onethird of the
stock at Liverpool is Of two low grade to go into the
general wants of commerce. it is very evident that the
spndes of Manchester must stop before the first of JAN
uary from inability at any price to procure cotton to
spnfor no other cause but that. Goods contract
ed for there for six months ahead based upon the prices
likely to rule and the goods must be made and we pre-
diet they will be made.
The loss of this market for four or six months is
mere bagaelle. The great demand now opening in Chi
na and the recovery of the India market will offset it
and leave balance. The consumption of Great Britain
has been other than increased one, when she
has had good harvest We admit that the rule of in
erest will be increased and that it will be only checked
by the too pressure exercised the agricultural
and Industrial or manufacturing interests with the
cheapening of food she swes the consumption at home
and her exports dependent upon the cheapne of her
ability to manufacture. The grain crops all the
continent OF Europe excessive, and the general
laws govern. France has superior vine crop, and
fair silk crop, and good agricultural crop. Cotton at
Liverpool quoted at nine and hreeeghth pence for
middling grades on that date which is equal to eight
pence sterling at New Orleans whereas it is selling at
New Orleans now at four and threeourth pence to five
pence sterling. The price existing at Liverpool is the
price the consumption pressed it to- and manufacturing
it at that rate is profitable business in Great Britain
for goods go off rapidly and there very light stocks
at Manchester, probably they were never smaller.
We can cite an instance to illustrate this Mr.. w.
of this city, very heavy importer of British staple dry
goods, anticipated this pressure about six weeks since
On the plea of removal he advertised great reduction in
prices, and counermanded nearly the whole of his Man
chester ORDERS directing the goods to be resod made
and the contracts sold out By the Europa he has ad
vices of sales at profit for the supply of the British
consumption, of his whole stock and orders The mar
kets at this side being already three pence sterling or
six cents, under the market at Liverpool arising from
the forced sales of gnees to meet their acceptances
and the inability of crowd of purchasers to make ship
ments, owing to the impossibity of negotiating ex-
change on London and Paris, it is not likely that the
growers will hurry their crops upon such market,
when high prices is simply question Of time, and the
flow OF gold to this section in continuous stream a
law of nature The crop is likely to be smaller than the
last but if frost at the South should not occur be-
fore the 10Th of November it may equal the ast-say
nearly three million bales which crop although itself
small one being nearly six hundred thousand bales less
than the year preceding it, brought into the country
nearly million dollars more which proves that
the consumption overlook the production at enormous
galop. England will receive India cotton the next
season. and will therefore feel the greatest urgency to
get hold OF this crop at low figure, at early date.
The stoppage of our spndes only temporary and
consumption of the material will not fall off two
hundred thousand bales The loss of the India crop is
equal to loss of five hundred thousand bales of Amer
can cotton and if by any means which is clearly
impossible, this crop could be swollen one million of
bales, predict that the average price of the
would not be more than penny under the past one ;
and that impossible, and the crop must be between
five hundred thousand bales under two hundred thos
and the last one with killing frost on the first of
December which is about as late as can be looked for
it follows that the flow Of gold into the South for
ton will not depresS the spirits OF growers but is likely
to put them their stills at distant day From the
position of the world to consume we predict now that
this crop of cotton will bring into the United States
greater volume of money than any heretofore by from
five to ten millions of dollars The fear s that next
spring the rebound will be too great from the initiation
Of the paper currency the steady importation of the
precious metals.
Chicago seems to be in as bad repute in Missouri as
Baltimore is getting to be every where During the Mis-
souri, State Fair held last week at St Louis four dsor
dery persons arrested the Fair Grounds, and
marched before the recorder the criminal Judge of that
city The trial Of any of them is described having
been literally as follows:
The prisoner arragned, and the complaint stated
| by the officer.
Recorder-"Where did you come from?"
| Prisoner" Chicago"
| Recorder-"Fine you 500
Exit prisoner to the calaboose
| Such is st. Louis appreciation of Chicago.
MISSISSIPPI BANKs.-A shrewd shaving gentleman