The weekly Mississippian. [volume] (Jackson, Miss.) 1859-1864, 1859-08-03
Prospects of Cotton.

l
ed in the cultivation of cotton or not. are in
terested in the subject We have, therefore,
ayailed ourselves Of some valuable statistics
concerning the cotton trade, which appeared
in late number of the Liverpool Post, but
which we have obtained secondhand from
contemporary nearer home. The facts here pre-
sented are full of encouragement to the cot
ton interests, as exhibiting scanty supply
on hand and foreshadowing remuneratiye pri-
ces for the growing crop. The reader will
not perlse the statistics without being remind
ed of what we have so often written of late
| in discussing another topic, that the consump
ton of cotton, in spite of all our efforts, will
keep IN advance Of is productions
Itappears that fer the last twelve months
Immediately preceding the outbreak Of the
war, the demand for cotton had been steadily
gaining on the supply. The buoyancy of the
| trade all over the world had afforded strong
inducement to extend the consuming power,
and fresh and improved machinery was fast
coming into play. Although, says the writer,
the American crop which now promises to
range between 8, 100000 and $780, OOobales,
has exceeded by nearly half million of bales
the early estimates of the seasons, and in for
mer times so enormous an addition to the ex-
pected supply would have brought about
complete collapse of the market, it is incontes-
table that in a continuance of peace this i'm
mense supply would have proved barely ade-
quate to provide for consumption and keep
moderate reserves of stock at the close of the
season, and the scale of prices for the remain
der of the year would have risen very mate
rally.
The war threatening to become general |
European war, there was at first some danger |
of panic but so greatly had the demand out |
stripped the supply that the only effect of the
war was to prevent rise.
The deliveries to the trade from the port of
Liverpool Gp to the 24th June, average A.
800 bales per week; and as spinners undoubt-
edly held light stock on the first of Janua-
ry, and arelstill supposed to have very mod
crate one, we cannot be far wrong in assuming
the actual consumption supplied from Liver
pool to date as 1900 bales per week This
amount the Post believes, will gradually in
crease as the season advances, and the trade
will take from Liverpool for the remainder of
the year at least 43, 600 bales per week Now
if they were continuing to use the respective
classes of cotton in their present proportion,
the stock of American cotton would certain
ly be reduced very low before the expiry of
the year
In the early part of this season a very large
amount Of American cotton was purchased in
the Liverpool cotton market, chiefly for Rus
sia, and the shipments in consequence have
been very heavy up to this date, SO that the
amount of that class exported is at present
10000 bales in excess of last year, when the
total attained the large amount of $4,000
bales
Another important element to be consider
ed in speculating on the export trade of lLiv
srpool is the anomalous position Of the Ha-
yre market. At that port the panic in the be-
ginning Of the year induced such caution that
it had failed to secure an adequate supply of
cotton, and must draw largely from England
later on in the season, to avoid positive ex
haustion of stock. Its position may be des-
cribed in single sentence. The stock in Ha-
vre, on the Oath June, was estimated at Co.
600 bales less than last year, with very little
more to receive from the States, while the
,o,,euv,,r4;or 10 r,racaadin0 IN q vopv Iarra |
scaIe-being 10000 bales per week for the
first five months this year. But. before the
new cotton began to arrive, the stock at Hayre
last year was reduced to less than three weeks
consumption; it is obvious, therefore, that
large supplies must be drawn from Liverpool
to provide for the French consumption till the
next crop becomes available. On these grounds
we are disposed to think that the export of
American cotton for the remainder Of the sea-
son will keep up to that last year-say at the
rate of 10000 bales per week-bringing the to-
tai up to 10000 bales.
Speaking of the increased supplies of East
India cotton, the Post says:
'In Surat the cotton export thus far is also
18 1000 bales ahead of last year. If through
the influence of heavy supplies the price of
this description rules cheap for the remainder
of the season, the export may probably keep
up to 1900 bales per week, or rather larger
than the average of last year. On this sup
position the export of Surat cotton from Liv-
erpool for the year will amount to LA 900
bales, against 114000 bales last year. In
cotton we will allow the same
EXPORT for the remainder of the season that
has taken place already, viz, 10000 bales;
and we are now able to estimate the stock
that on the foregoing hypothesis will remain
n Liverpool on the 31st December.
Ba'es. Bales
Estimated supply Of American cotton l,ls5,oOO
,S4Soo $50 OK 81 weeks l.O2e,oyo
Probable stock o. American cotton, slst Dec 600
Estimated supply Of Surat cotton ..Soo,O0O
SonsuSptioa' g 80 5000 y 81 weea.sisooo
Probable stSck af surat cotton Slst Dec.
Estimsten supply Of Brazil and agyptianl5o'Ooo
Consumption LOCO per week. los % SSS 90 lls,oOo
Prc6abie stock oiBrazn, Egyptian. Sc.. 1900
stock Of all sort, in Liverpool S1st Dec 1sSs... $4,000
If this view proves correct it appears that
we shall conclude the year, with an aggregate
stock substantially the same as last year, but
yery differently divided, the proportion OF
American cotton being relatively very small.
and nearly 100000 bales less than at the end
of 1858. This scarcity viii also be telt the
more from the unusual amount Of rubbish
comprised in the existing stock, much Of which
will doubtless survive to the end OF the year
and prolong an existence most distastefui 10
holders"
1t would seem, therefore, from the present
asrect of the cotton trade, that the position of
the market is good. We have the broad fact
before ms that crop of three millions and
three quarters has been more than absorbed
by the world, for stocks viii be lighter at the
end than the beginning of the year. The re-
storation of peace has already given fresh I'M
pulse to the market and the conclusion is fr-
resistible that in the coming season four mill
lions Of bales will be absorbed, if produced, at
prices richly comparative to the planter.
tST The Starkeyille Advertiser IS quiet Sc