Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1861-11-13
COTTON SUPPLY IN THE UNITED
STATES.

The Louisville Journal says there is scarcely
a steamer reaching New York now without
bringing cotton from England, on account Of
eastern manufacturers. The New York World
states that the Edinburg and other vessels
brought about 1900 bales last week, some Of
which was Surat, to be used for special manu-
iacturing purposes as an experiment, but the
bulk was American cotton reshpped. This un-
usual movement is due, of course, TO a difference
in price between the Liverpool and New York
markets. Middlng uplands, the great staple Of
the South have been selling in Liverpool for
some time past at four cents per pound less than
in New York, the price being respectively seven
teen and twenty-One cents. Since then, both
markets have gone up one cent, but the relative
proportion, which leaves good margin even for
shipment by steamer, remains the same. Among
the theories accounting for this unusual state of
things, the World gives the following:
J. That the English manufacturers are in no
fear of cotton famine, they believe their gov
ernment will raise the blockade Of the southern
ports as soon as the stocks on hand become seri-
ously diminished. This supposition, however,
is EllilEtD 4llof a. tif t9Alf N4 Tue
press and the action of the + ngish government
give us every needful assurance that the block
sde viii be respected as long as il is rendered
reasonably efficient.
? 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 depended on the
nearest of the southern market to fill up their
transient orders, and now, therefore find them
selves with q small stock from which 10 draw.
Hence the rise in our market, and the supply of
an actual deficiency from England.
8. There is still another theory, now we be-
Eeye for the first time broached which may per-
haps account for the low price OF cotton in Eng
land as compared with New York Its evident
that the English broker and manufacturers have
no faith in the high prices which now obtain. II
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
a pound Of il would be permitted to leave the
country. But the English cotton dealers have
no faith in the market and insist upon it, that
cotton, when required, viii be procured in guam
titles sufficient 10 relieve the fears of the manu-
iactuTeTs.
Now what Is the ground Of this faith Ii has
been suggested that the cotton supply question
has naturally formed the subject of communi-
cations 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 the world. This assurance.
/ If given, would Of course be communicated 10
4 the British Cabinet, and by them, in some in
formal way, to the manufacturers, to prevent an
excessive rise ia the price of an article Of so
much Importance 10 the English people. For
some months past we have been in the recent Of
occasional imDorfaut Items of Wa asbiro+,,, ,.a,,.5
by way Of England, and it should not surprise
us if the leading English cotton dealers were
better informed as TO the designs Of our govern
ment on the southern coast than our own mer-
chants and manufacturers. This theory ,yould
account for the unbelsf Of the English dealers In
the ability Of the South to keep their cotton ,,i
the whole world eager 20 buy it.