The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-04-29
FINANCIAL AND COMMERCIAL.
SUNDAY. April q. 1861.


The question of most interest to the commercial
cotton. Under the general impression that this
years cotton crop will be materially curtaied by
1he war, middling uplands have risen in New York
TO Ia cents pound and many operators look for
much higher prices. Very serious apprehensions
are entertained abroad on the subject. The Brit
ish government is spending money freely in con
vcying experienced planters and agents of the
Cotton Supply Association to various parts of
India, where cotton may be grown. The French
are granting bounties On the production of cotton
in Algeria; steps are being taken to cultivate
cotton more extensively than heretofore in West
efn and Southeastern Africa, in Central AmsIoa
and in Australia. 1t is pretty certain, however,
that whatever may be the ultimate result e
these efforts, they cannot, this year, or even
next, lead to the production of enough cotton
TO supply the wants OF the civilized world.
Next winter there will be a general scarcity
of cotton, if the supply from our Southern States
should be cut off. The question Of the day, there
Fore is--will the war prevent the South growing
and exporting cotton?
The prevailing impression among parties best
qualified to judge is that, while the war must
necessarily interfere with agricultural operations
stroy this years cotton crop. We know that
large area Of land has been planted, and that thus
<far the weather has been favorable 1t is hardly
likely that the cotton plantations win be the scene
of conflicts. They are the last place in the world
where prudent general would lead Northern
army and the well understood objects Of the nation
IN its present uprising can be attained without
disturbing many fields. How far the war NAV
oln Go1I lob
tent an unsolved problem. Without the presence
OF a Northern army to incitc them, it is not very
likely that negro instructions in the Gulf States
will become so general or so formidable, this year.
as to prevent altogether the hoeing and picking
of cotton. In the border States the slaves are
already running away in drovcs, and in the course
ofafew months the bulk ofthem may perhaps have
found free home in the North. But in the great cot
ton States-Georgia Florida, Alabama, Mississippi,
Texas, Louisiana and Arkansas-it is not so easy
for slave to escape beyond bis masters reach.
Whatever happens, there will remain a large num-
Der of plantations removed from the scene of con-
fiict, which ought to yield almost an average
crop If the weather be favorable. II must always
be remembered that 20 the planter il is a matter
of life and death to grow cotton and send it to
market. A Southern planter, owning two hun
or prepare for the worst. He cannot discharge
them, as Northern farmer would do in the like
case. We may therefore rely upon it that, what
ever happens, tremendous efforts will be made by
planters throughout the South to produce cotton
In spite of obstacles; and il is probably fair to
infer that these efforts win result in the produc-
ton of a crop which, though probably far short of
the great crops of 1868, 1859 and 1850 will not
NJ. l4r.x
ago, and which, with the increased supplies from
other sources, will not leave the manufacturing
world destitute Of the essential staple.
On Wednesday last the District Attorney mott
lied the New York city banks not to pay any
moneys to corporations or individuals in the rebel
states. Within few hours after the notification
was served on the banks il was recalled, at the in
stance OF influential citizens, who urged that il
would practically amount to reputation, and tina,
New York Iaust not set an example of the kind
The recall was obviously wise. In peace or in
war the banks and merchants of New York must
fulfil their obligations and live up to the rules o.
honorable mercantile dealing. But there is nc
reason why the District Attorney should not pre-
vent the transmission Of money to localities held
by the rebels. Indeed it i his duty to do so. But
the way to prevent rcmittances to the South ia mo-
TO threaten banks with prosecutions for treason
but TO seize the moneys themselves in the hands O
the carriers. On Friday last some 900 wer,
drawn in specie from a city bank and sent t
North Carolina.
Property of various kinds is arriving here bJ
: various channels from the South. Many rich mer
of the slave States are becoming disguised will
the mob law under which they are living, and
seek safe home ~ the North. We are led TO be
lieye that the exodus would be more general bu
for apprehensons-wh are encouraged By tht
Southern demagogues- Southerners should b.
molested in their persons or property on arriving
here. There is no ground whatever for these
fears. Citizens of every State may come to New
York freely with their property, and will enjoy
1he fullest protection from our laws and our au
thorities. The whole civil and military force o
New York would be employed if need were, q
protect the persons and property even OF citizen
OF South Carolina after their removal TO this city
We cannot, OF course, suffer supplies, munitions 0
war or money TO be sent 70 the rebels who are il
arms against the government. But once here
Southern property would be good deal safe
iban il i in the rebellious States. There IL nj
prospect here Of forced loans, or mob law, O
slave instructions, or confscations.
The following are the trade tables for tn,
week
IMPORTS.
Tor H> Week. 1859 1880. 1861.
Dry goods. .Ts8,4T3 1,To3,4sS 3e3, 90
General merchandise. 1850, 1874 2si6,766 1,7I0a2
Total for the week. 81 s29. 2oT Also 253 2lo3 as
Previously reported. " 566S9s 7isa3,567 $780, s
Since January L.. sal 500 l05 1908, $40 IS go 3
ExroETs PRODUCE MERCHANDISE.
1850 1850. 1851.
tor the week. ,760 1896 .424 2,Os2 ~
Previously reported. II 16a ,il2 2l,5e3,5i3 3sS1127
Since January J.. ,94ss72 26,12a e37 40,3oe, "a
EXPORTS or srrTE.