New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-11-15
E,okEIGN I Z nE 8 COTTON.

FOkEuGN5 PRICE OF CorroN.
The New York World, commenting on The fact |
that American cotton is four cents pound higher
in New York than in Liverpool discusses the va |
rious explanations which have been made of it, in
an article a portion Of which We subjoin:a /
l. That the English manufacturers are in no fear
of cotton famine, as they believe their govern
ment will raise the blockade of the Southern ports
al soon as the stocks ON hand become seriously
diminished. This supposition, however, is entirely
gratutons. as the tone OF the English press and the
action Of the English Government gives us every
needful assurance that the blockade will be re-
spected as long as it is rendered reasonably eff
ciens. 5.
y q. That our own manufacturers have not been in
the habit Of storing any large quantities of cotton,
such as has been the custom in England for many
years past, but have depeuded on the nearest of
the Southern markets to fill up their transient or
ders, and now, therefore, find themselves with
small stock from which to draw Hence the rise
u eur market, and the supply of an actual def
cheney from England.
s.. There is still another. theory, now we believe
for the first time preached, which may perhaps
account for the low price of cotton in England as
compared with New York. 1t is.eyident that the
English broker and manufacturer have no faith in
the high prices which now obtain. If they were
| sure no supply could be got from America this
winter, cotton, the London Times admits, would
! run up to fabulous prices, and not pound of It
would be permitted to leave the country. But the
Engsh cotton dealers have no faith IN the nafke,;
and insist upon it, that cotton. when required, VIII
be procured in quantities sufficient to relieve the
4 fears of the manufacturers .s
Now what Is the ground of this faith !? 1T has
been suggested that the cotton supply question has
naturally formed the subject of communications
Between Lord Lyons and Secretary Seward and
that the latter has given the former assurances that
before next December two, if not more Of the
Southern ports would be open to the commerce of
1 Tho brld W
course, be communicated to the British Cabinet,
| aat BY them N some Informal way, to the manu-
facturers to prevent an excessive rise in the price
Of an article of much importance to the English
/ people. For some months past we have been in
the receipt Of occasional important items of Wash
ington news BY way of England, and it should not
surprise us il the leading English cotton dealers
were better informed as to the designs of our Gov
eminent on the Southern coast than our own mel.
chants and manufacturers. This theory would &C
count for the unbeIef of the English dealers in the
ability Of the South to keep their cotton with the
whole wosld eager TO buy it.
We are of the World S opinion in surprising that
the explanation first offered is incorrect. The
English manufacturers can scarcely be relying On
the expectation that the British Government win
break the blockade " IS soon as the stocks of cot
ton on hand become seriously diminished The
stocks on hand are seriously diminished already.
The last advices are that the supply of American
cotton in England cannot last longer than the mid
die of January, even-tif the mills work on half
time. To relieve the cotton wants of that country,
the staple ought at this moment to be aloat and
| on the way across the ocean. 1t is very certain
| that if the blockade were raised tomorrow, and
ships were here ready. to receive the cotton, it
could not be got here from the plantations and
pressed and put on board, and then delivered in
Liverpool day before the supply there will be
exhausted. The English Government knows this
as well as we do and hence we may infer it has
no intention Of breaking the blockade, or it would
have done so before this. It is too late now for
that Governmental break the blockade in order
to get,cotton even were it ever disposed to do so,
of which we have seen no evidence. ~,
The second paragraph, in 80 far as it explains
the present high price of cotton in New York, is
doubtless correct; but it does not account for the
factof the difference in that market and Liverpool
except on the ground that supplies are Lighter.
The last explanation which the World makes Of
the comparatively low price of cotton in LIVER
pool and the one which that paper believes in is,
that the English manufacturers believe they will
soon set Southern cotton through the agency of
the Yankee Government. It has been suggested"
says the World, that Mr.. Seward has given assn
RANGES that two, if not more of the cotton ports
shall be opened before December. Very likely he
| has. II the British Ministry, however, place any
reliance in Mr. Stewards assurances they have
pot the good sense they have the credit of having
No one is more prolific of assurances than Seward
and there is no one whose assurances are SO little
realized. Suppose however, that two cotton ports
are opened by December, or that two dozen are,
or two thousand, if there were SO many, is there
any assurance that that would help the matter
Opening a cotton port is not what is wanted, but
it Is the actual, tangible possession of the cotton
| itself. Everybody knows that opening port does
notsend forward the cotton, and that such thing
does not mend the matter in the least The planters
IN South Carolina, near Port Royal, are already
burning their cotton, or removing it into the in
terror to prevent it from falling into the hands of
the enemy and it is well understood thing that
1 this will be done wherever the enemy opens a
port" This determination has been known all
! Through the Southern States for three or four
! months. and must be known to the British Govern
ment else its consus and Representatives in the
4 South have been dereliet in their duty and IN
faithful in their reports to the Government they
| represent If the foreign manufacturer wants
cotton, he must therefore, rely on something else
than the opening Of Southern ports by the North.
That is the very way for them not to getit.
f. The British Government has either been de-
oeiyed by Seward about this thing, or else it has
understood it al the while and is prepared to give
aid fromits treasury, whenever necessary, to those
| whose means Of existence will be destroyed by the
/ failure of the cotton supply. The latter Is the
more reasonable conjecture, because the former
implies asreaection upon British craftsmanship and
good sense; and of these qualities that Government
has never shown any lack. One thing is very GER
tain--they will never get cotton from the South
through Yankee agency, they wait from now till
| doomsday. ~ z,,;4 +I.S = s
n IA TALK ON CHANGE.
The tags yesterday were partially deserted.
General lethargy seemed to have full control
scarcely . corporafs guard could be conyoked,
notwithstanding the very fine weather. Of course,
twas talked of that vessel from England had ar
! rived at some Confederate port. Aswe consider it
a wise policy to pursue a course of reticence on
movements for the Confederate Government. we