The independent press. (Abbeville C.H., S.C.) 1853-1860, 1860-02-03
PROSPECTS. OF COTTON FOR ,sso

predecessors, which have always attract ed
great attention for the ability and intimate ac-
quaiuinnce with the cotton trade which they
have exhibited
According to this writer, the characteristics
features Of the cotton trade, during the past
| twelve months, have been the uncxnrnplct pros.
| Perity Of the manufacturing interest on the
one hand, aad the increase OF the raw lnate-
! rnl on the ether. ht one time great uneas-
| ness was felt, ut estimated crop Of three
! aiid half millions Of bales. ard had the result
! been forescen. and that the year would close ut
| the current estimates Of four and a quarter
miili"ns every one would have predicted n
| rreat reduction in price Ent the consumption
| OF cotton i"s almost kept pace with the SUNNY
aud The li,tie surplus ;hat has been added to
, the stoeF. has scarcely been feL. in virw Of the
| rapid Increase Of consumption, lhrouyhou, the
world The writer ,':cn proceeds to enquire with
regard 10 tile effect Of another year of p,"sper-
Gus trade III coun,eracting the influence Of
heavy supplies and maintaining the standard
price.
with regard to the amouut Of the present
crop. the estimates have been vrr; cu,.lictinc.
ranging from four millions t. four and n ounrtcr
millions of hnes. The writer assumes four
millions one hundred thousand bale. as the
most probable, aud allowing deduction Of
S3U,o00 for casualties, this woui,! leave IL cro,.
of four million aud fifty thousand bales. strict.
ly available fur.consump,on. IN III. ,iIs,r.bu-
ton Of this crop. assuming the operations of III.
las, Year rs the basis Of the calculation, Eng.
Ia;d would receive. two million two hundred
a..
thousand 6"lea OF 531 per cent, ai',. the CONT
ncnt Of Europe. OIL" million fifty thousand bu.cs
or 2G3 per cent. and the amount consumed in
this country would amount to eight hundred
thousand lal-s or ~ per cent,
lhe t"ta! supply rf cotton, for $50 rccrivcd
by England, would he two million ,wo hundred!
thousand bales of American cotton, SIX hun.
drci thousand bu!cs of East India. and two hum
dred and thirty thousand bales of Brazilian,
&c.-n,aking Il gross amount Cor consumption
OF three million thirty thousand bales. Of,nis
amour. it is estimate! that four hundred and
seventy two thousand bales would he exported
to the continent, nnd that the cotton mills
would require two nillion tire. hundred and
nlnrtvtwo thousand bales. estimating the con.
sumption 70" fifty two weeks. a, fort ty.six ihous.
and Lalcs Per matchmaking II total Of two
million eight h'nd,cl and sixty. four thousand
baies. which deducted from the estimated SUP
ply of three million thirty thousand bales leaves
al excess at the end Of the Year IF one hundred
aud sixty six thousand bales, or about 8 Der
cent upon the annual consumption Of the wo, III
The writer concludes. that the supply prom.
'ses to be inily equal probably l;,le in excess
OF the consumption Uf the world for the prescu,
ear but if tra!e continues in prosperous
condition which there is every appearance OF
Us DONG and politics remain se,r led. there is
no warrant for any material drpartur. from,
the prices which were. maintained durin. Iii.
past year.
VALUE OF SLAVE PROPERTY.
The Journal g Commerce, calls lvn,:un, ,ua
l'henoinrnom, well cnlcu n,e.l to con,ound tn.
and which is presented thu ouvl,.
Out the sav-h"ldlng States. Just ut IL rcriod
when the n,isluyery doctrines, w.u.d seem t.
have attuinc. their most complete dvv .Io,ru.nt
aud the the,nies OF The institution might hav.
o'en led TO anticipate thc,s'gns ofits dissolution
II great advance has taken i,lnce IN the price
OF negroes They are now selling for rs per
cent higher thanstlley they were z or 3 wears
ago. and shareholders seem neycr:to hay. had
greater confidence in the sperrnanence OF the
Institution. The external pressure seem to have
consolidated every interest in its support. aud
whilst it hos served to strengthen
the bonds'of the slave, has deprived hnn Of
many Of the ameiiora,ing influences which wer.
at wo.k IN his favor
The following from the Miiledseville (GAl
Federal Union Of the Eth mat. is fair index
OF thcaslate of feeling prevalent on this sub
ject:
There is perfect fever raging dn Georcin
now on t'ie subject of buy lug i.cgrnrs. Sew
eral sales which have come GIicr our eye
within n'n"nth i,as,. afford M ,,nrSist aI mile
) ON OF the prevalence of disease in lh,
public mind on this subject. In view Of The
'a"ui"ns prices Of property. retl-cting Men
aie led TO The inquiry. wliut is 10 he ,ion- to
supply the deficiency which is produced " it'll
us toy the great demand for negroes in the
Southwest We are unable to give any sa,;s
Inetoiy answer. But. s" far as he effect VIII .cL
hesf hlgts sspgiees arc io have in our own State
is 'coucrfhft,T we think We can trutlfu.iv snv.
me leseFsWlll soon nhale in II very natural
way: MeteE4re borrow ing money TO day n,
eH"rhllant rafes ot interest To- buy negroes at ex
r"'tnht prices. The speculation " i'll not tsustan
Tue spectators, and in shurt time W. shall
see &c 'nnny n"groes'dnd much land offer. under
The ster'ff's hammer. will, few buyers for cash,
"u Then tins kind IF property will descend to
its real value. The old rule of pricing ne
gr by the price of cotton by tie iunnd that
ID t" say. if cotton is worth twelve cents. "A
negro r,nn IL wor. h twelve hundred dollars if
At fifteen cents. then fl fI.eu hundred dollars
does not seem to regn,ded. Negroes aSfe TWEEN
ty-hve per cent. higher now, with cotton at
ten and half cenls. lhan they w-r. two or
three years ago, WHEN it was worth fiIteen and
sixteen cents Men are demented Upon the
subject a reverse will surely come.
EYFICTs OF THE SEcrloNsL ExclrEMExr.-No
since 1872. it is said. hns business been more
thoroughly Frustrated in Philadelphia, than Mt
present The Ledger says:
there is literally nothing d"ng Theft
merchants ore selling the smallest amount
sJous J a"a recesing nost mengre of indcht
euhess; AN oid merchant, Or rather d gentle