Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1861-08-31
THE sUppI.Y OF COTTON IN ENGLAND.

The supply of cotton in England continues to absorb
the attention Of the British press Tbs London Econo-
mist Of the 10Th abandons the hope Of getting cotton
from the United States in the regular way II says:
Since the war must continue dill the North has In the
first place. wiped the humiliation Of s late defeat
aud convinced its in the second place. Of the Iacty
Of the South ho its and to make good its posi-
tom and since one Of It's principal instruments Of war.
fare aud that from which h looks for the greatest
suits il the s,rict blockade of the Southern por-it Is
obvious that chances Of receiving withuany mod.
crate time any considerable proportion Of the growing
crop are greatly diminished. ..r y,
The controversy cannot nov be speedily settled At
least sI months probably twelve months mts. elapse,
accor ding to all seeming before the Southern ports will
be again open to free with Europe II tie
blockade Is really made ehectveand the Federal Gov
ernmsnt we may be sure will spare no eIeron to make
it so-then usual supply Of cotton from the States
must be wholly mainly ioreyone. We shall have TO
depend for the next year chiefly upon our present stock
and upon Indian Resources. Under the operation
OF this conviction prices which have hitherto advanced
but slowly and made quAely will take decided upward
tendency aad orders Ioda Will be sent out with much
more liberal limits Unusually large quantities al
ready on the way from that country, aud from first 10
last VIC shall perhaps receive million OF bales.
Mean he the pressure has as yet been little felt in
our manufacturing districts. The spnners rule,
| unusually well stocked with the raw material-many
people say far forward October The expectation Of
an advance IN price, Whch was certain 10 ne consueaDle
aud might be enormous has Undue, purchasers TO sup
ply themselves freely with goods and yarn aud pro-
dacsrs were determined to allow their produce to
cumu!ate they have met the demand readily. And AZ
they could generally, at existing Prices "cover theu
selves las the phrase itbat Is, escape actual loss
thew have gone on produc ng nearly at their ordinary
rate Now however, there is the commencement Of a
l,l 10 the demand; and as manufacturers determined
not to "stoek they will produce only as much as they
can SELL aud we shall see short time resored to as
general measure. Already few mills only working
four DAYS week There is no panic aud little specula
ion caution the order Of the day people resolved
t, "fsel their way" and in the prevalence Of this temper
merchants will probably find an escape from Iuinous
Losses and operatives security against utter restitution
an unemployment.
We share TO considerable extent the instructive
yction OF the Lancashire merchants and manufacture
that mn article grown by eager seller and consumed
by All eager buyer will fad its way from the one to the
other in spite OF all hostile barriers and prohibons.-
The question is after all one OF degree-and of price.
We must remember that the .me cause.-The blockade
vb;ca raises cotton so much in Liverpool and HAVE,
lowers il as much in New Orleans and Mobile.
The export being prevented and there being no buy.
err cotton becomes "a drug in the planting States at
the very moment when it is becoming rs precious as
gold in England--and when the same article Is worth
twelve pence on one side OF the water and six cents
the Other while the not two cents the loss Of
every other cargo to the adventurous merchant who de-
termned 10 run the gauntlet through the bockadng
squadron would still leave him handsome profit on
the entire transaction. With such prospect before
him-o saw nothing Of the sllurements Of the gambling
character Of such trade to the speculative man-we
NAV he perfectly sure that the venture will be made and
made Oh large scale-snd before long the insurance
Offices will begin to take cognsance OF such transac-
tions