Centre Democrat. [volume] (Bellefonte, Pa.) 1848-1989, 1861-11-07
THE COTTON QUESTION.

erStIons, when brought to the test OF exper1
eRce are often discovered to be more illusory
than solid. But while such theories, as
were at one time prevalent among US. re-
specting the exhaustion and destitution TO
which the Southern States would be soon
reduced by the continuance of the war, seem
to have been, in a large degree, exaggerated
if not unfounded, it is also apparent that the
received doctrines of the Southern economists
and calculators with regard to the imperial
power of their great staple have been
equally scattered to the winds during the
last few months. IF We have been in error
with regard to the extent of Southarn re-
sources, they have been egregisusly de-
ceiVed in regard to the commercial power of
that mighty lever which, with the cotton
bale for its folerum, was once held suff-
cient to move the financial world and shake
the firm foundation of European thrones, if
these latter did not aid the loyal subjects of
'King Cotton" in his attempts to found
new.dynasty in this New World.
That intelligent British journal, the Lon
don Economist, of the 3lst ultimo, in allud-
ing to this Southern delusion, remarks as fol-
lows:
SIT is believed, too, that they, (the South
ern leaders still entertain the extraordinary
notion that by starring France and EGG
land-by the loss and suffering anticipated
as the consequences of an entire privation of
the American cotton supply-they will COM
| pei these governments to interfere on their
behalf, and force the United Ststes to aban-
don the blockade. If they really expect
such a high-handed violation of all interna-
tional usage on our part, zoe can only say
their leaders are less sensible and e1peri-
enced men than zoe hare hitherto supposed.
There is not the remotest chance hut either
Po,cer would feel justified for moment in
projecting sash an act of decided and unwar-
rantable hostility against the United States.
We are less dependant upon the South than
the South is upon us, as they will ere long
begin to discover. 1t is more necessary for
more than once shown, the worst that can
happen to US from continuance of the
| blockade will be that our mills will have to
work two thirds time; and it is by no
means sure from present appearances
whether the aggregate demand of the
world would suffice to take off much more
than three-fourths Of full production even
five had cotton in abundance. On the 9TH
er hand, if the South Americans sell moth
ing, if they and their enemies agree to for
bid any cargoes leaving their shores, they
will have to do without the 100000 or
950000, 600 which they are accustomed an
nually to raise by the sale of their produce.
Whether they can foregu this vast annual
income they only can judge, for they only
know how much poverty and priYation
their political passions will enable them to
endure. Their reported scheme of selling
or mortgaging their crops to Government
will not really put them in funds. 1t will
be no actual sale. The planters will be paid
merely in promises to pay. Q. in Treasury
notes-which, though they may be made
the basis of new form of paper currency
4 will be in no degree available for the real
increase of the resources of the country
The cotton and tobacco will neither been
sold or paid for, nor exchanged for any ac-
tual commodity; they will merely have
changed hands within the territory-the
new holder promising to pay the original
holder for them at some future time.
eve still adhere to the opinion we have
expressed from the beginning We believe
that SO soon as the Confederate States are
satisfied that cotton is not king'--and that
France and England have not the slightest
| intention of intervening in the strife-all
the Southern produce will come down the
rivers as fast as is safe and as coon as is
necessary; and that considerable cargoes
will contriye to evadc the blockading squad
ron-in quantities pretty exactly proper
toned to the European price of the article
required"
The London Mercantile Gazette of the Cd
instant, in referring to this same subject, in
Inmates the expression of its belief that the
blockade of the Southern ports by the Fed
eral Government is not effective, and that
cotton could be readily procured in British
| bottoms if the confederate authorities had
not established an interior blockade on the
| transportation of cotton to the seaboard in
! the hope of thus constraing British or
French intervention for the purpose of rais-
| ing the national blockade, not in the interest
! Of commerce, but for the interest of "South
ern independence" To this effect that
journal says:
'The absence of American cotton from
the markets of Europe is. in reality, due not
to the efficacy of a blockade which, in the ma
ture of things, could not be and is not eff
cient, but to the mutual understanding and
determination of the Confederates them
selves. The Southern factor and uuderwri-
ters have refused to have any dealings with
the cotton planters if the cotton is brought
down to the ports. 1t must be stored where
it is grown. The object is to prevent the
cotton leaving the country, in order that
such pressure shall be put upon the cotton
consuming countries of Europe as will re-
suit in an active intervention to terminate
In