The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-01-13

promine Mt gentleman of South Carolina and Senator
in the State Legislature estimates the loss sustained by
the South from the depression cotton caused by the
late panic, at $40 600 900.
We have endeavored to show by the following state
men of facts and estimates that his calculation Of loss s
large and wide Of the mark. The fluctuations in the
cotton trade always viewed with interest by the
pie both of Europe and the United States. The crop OF
ls56-'b7 very short one, compared with that
of 1866 That s, II comprised only about ,939,
600 bales against 900 bales the previous year show
ing decrease OF about Sol COO bales The result was
that prices went TO 15c and Ice per lohe highest
point the article had reached for many years previously
Notwithstanding the diminished crop OF ls56-b7, !
yielded value TO the co1nry than the large Gro
Of 1s55-'56. Though prices went up to l5c and &c.
chiefly within the last quarter Of the cotton year ending
the first OF September, 1857, yet would be unsafe @
estimate the whole crop at these figures. It will
comport nearer with the truth TO fix tho
average at about 13c. per H. Taking the crop
at 2e3900o bales, and fixing the average weight
at 400 lbs to the bale, would make each bale worth
$50; which, If applied to the WHOLE would give total
value Of about sl52, ,S2s 600
The high prices continued rule until about the close
Of the cotton year the LIST OF September 1857 when
the stocks in ports nearly exhausted and those
in foreign ports were very light.
The new crop WIS very backward, and the receipts
into the ports were much less than usual rhe de-
cline need in September last and the article con
tnued be depressed until about the first OF tho present
month"; when there very small stocks in our seapots
for decline to upon The planters seeing the great
decline induced by the October panic, and the derange
ment the market for sterling exchange withheld their
supplies from Market hence at the close ofils57-al
tbouxh sbs crop Of 1es7-ss s known, must exceed
that OF the previous ycar-the receipts at Our
seapors exhibits, a falling of compared with the
period the year BEFORE Of about 435 bales
must receive the benefit OF the present any future
that may take place.
The total exports from the United stes from the first
Of September last 10 about the close Of 1857 embraced
about $4,000 bales against 56i 900 for the period
the close Of 1885, and against 500 tho year prev
The crop OF ls575s estimated at from, 900 TO
s,lso 900 bales.
five assume that the amount will be 100000 bales
the distrit uton will be about As follows
Total Of 100 600
Remanins IN the interior and vet to come for
ward, including the ass 900 bales deficiency Gao 900
Total. 100, 900
so that OF the entire crop OF 1857 5S Of 900 bales
wo have only exported about b21 900 bales leaving In
the country 70 receive the beneht
Of the fse which may safely be put down abou.
and quarter per pound from the lowest point
current before the receipt Of the Ausntics last
week. This advance is equal to s. per bale, which,
applied to the quantity remaining in ports aud 10
forward from the inferior gives total of about
sl2 SOS 600 in favor Of the country.
Assuming the crop Of 1867 5s 10 amount 70 900
bales and estimating IT, with that already exported and
that the ports average value OF about % cents
per H. will give total value for the crop OF 1857 SO
OF sI7 &c., about s3j s 900 less than the total
value Of the crop Of 1856 81 And tho value OF the
large crop Of bales Of 1855 SO did not exceed
about $50 0o0 the value Of the crop n 1851 5s
our estimate will only fall below Il about sl3 000 600
But admitted all hands that cotton
ably depressed during the panic Of last srunn, chen
confidence suspended and bills Of sterling exchange
could scarcely be sold at any price.
when we consider the light stocks held parts Of
Europe and the increase Of population leading IN
creased sousumptivc demand, with some dmnution in
the usual supplies Of cotton from other countries AMI
pecay from India must be con ,eded that the crop,
even at An estimate Of 100000 bales, will be small
for the supply Of the world.
Future movements are likely 10 establish an ave.
rsge Of prices above than under the figures We have
given.