New-York daily tribune., 1861-08-28

raw material thus dmini,hing the margin ol proh,
for which they carry on business. Even II go2a
long orderV, extending over considerable periou,
are offered 10 them, they are dubious Of accepting
them teiug fearful Of the course OF the market ior lo
raw material in tie interval II they decide 70 sIPH
themselves with cotton hereafter, tic price may lSe 70
point at which the contract may leave them an ehoI
nous loss On the other hand, If they possess ample
capital and prefer to bay now they DO so at grea.
peril for the present range Of prices being b.sed hoI
trading hut political considerations tue eolI1u
market might perehancc, break away dowhwaras, @
and leave them the hodersof stock purchased at very
high prices EreD therefore, in cases where tho ei,
poyer his the chance Of getting orders when Mouo ~
help TO keep be people ia work for long uine 10
come, he dare not scCept them.
The computed stock of cotton at Liverpool on last
Friday evening was S9, ,O'O bales against ,2ooop ~
the same period Of last year, when the quantity was
uuueually large AZ regards the American QUALITIES
the stock Ia equal 10 about 30 weeks consumption at
the rate lately wtneesedi at this time last year we
equal 10 % weeks consumption. There tben rehatus
the important difSenee, rs determining the marie. M
price that last wear there was every prospect OF INC
Americ n supply coming forward rs usual, whereas
BOW that supply is ordered to be stopPed. Ano'neI
point 10 be weighed is that the draght upon our eloek
for expectation will probably lie larger this year nan
usual as continental, AID, perhaps, even american
consumers will fall upon our market. This rendors II
the more requisite that we should diminish our own @
consumption. Ne the home " trade nave ol h,e
possessed themselve. of considerable supply BY eey
ing at LIVERPOOL ii is computed that the STOCK "mch
tbcy hold Is OF abou, tie amoun; 90 last year.
TLtse are only few of the more prominent copsid-
oratiops pro and cen, which have TO be estaieu III
etemon0 10 arrive 1t conclusions respecting the p:oI
ah,e htrEe course OF the cotton trade. We have ad-
dnced cuceut 70 convince the general reader oi tbe
serous NOT 20 cav critical character OF the present con-
ditcn Of Affairs. Al the same Tune, anhough tne pro
gress of spprehenson is broadly lnd!cstea by thc %
cedented extent of the buoese done IN the lhverpooi
cotton market during the last six weeks, II would DC
wrong {, omit from the account number of points "a.
yoriug the presumption that we stall yet tide qnc'y
over cJnsiderdbleI period before we ar1Yeal tDe Iiu
dc ,ded cotton scarcity. which seems TO be grad ally
creeping nearer and nearer. Adimuihed consumt ton,
though eptailng local distress will do some hing
anxiety. The means oil ecopomZlng
the raw material will also engage licltude. Instead
of producing heavy goods which require an I'M
penee quantity Of cotton many manufacturers are
now turning their attention TO lighter aud thinner lab
rcs. Then the higher prices 1se at Liverpool the
more Impressed will the spectators become with the
peril Of their position, the more carefully VIII they
wat n for the least sign that may effect it, and the
reader will they be TO sell and take their profit.
Measured merely by the statistics Of consumption and
production all over the world the present price OF cot
ton u OF prep serously high There VIII be
propoionate ncresse OF danger should u be driven up
TO sth more inflated point. As prizes rise therefore,
the pulse will necessarily become weaker
Next under tie powerful influence of rise Of 80 per
cent in the price since last year, India is straingg
cry nerve 20 This, il s true requires much
quantity OF East India cotton at Liverpool the
way 70 that port 10 than quarter Of million
Of bales larger than this time last year. and the
for relief II growing one The cotton
.peeultor will watch warily, and the trade In thit
country hopefully the exertons which are bviug made
In that ai aud available field. Finally, IL mast DO
borne in mind that though we are told the usual sop
ply from America IL not TO be permitted to come for
ward il will not be withheld this season, at least,
through lack Of the article Cotton-growng In Amer.
lea st being carried vigorously and the adyic.s
om the Soutb spesl we'll OF tie growing crop II is
4 very important element in the whole question: that
the supply, the want Of which pinches Us, will exiS.
there.
There remains then, only the anxious questions,
never ~ sent from the mind OF the cotton specuator
VIII any portion Of the American supply come for
ward, and II so what portion VIII the blockade bc
in way to secure ts continued reeogni
ton by England France and other States Assuming
that tbs point s resolved in tine affirmative, what
quantity Of cotton will the gauntlet Of the block
hding squadron Given, scarcity Of the article, and
4 high price al Liverpool and Mancbester at Hhyre
aud Muhouse together with abundant supply in
The Confederate States; and whst viii 10 tho result
Ihese are are SiHss OF Questions the 'n'"' y" ~ ''"
NEUTRALITY-SUSPICIOUS. or 1.-THE TINES"
Fre- TAs LonGoa Netr'. At0lHl1.
We had the sstsfa etion Of giving 10 our columns
Saturday one Of the most useful leers from Ame lea
which la, appeared during the present erisis. with
out pledging ourselves TO all the views and statements
offered 6y &C. n. " Of New-York, we may point 70
his letter ne aiording solution Of the dbcues and
a reply 10 tie questions, which occur hero every day
Ia discussing American affairs People who really de-
sire 10 understand the Transatlantic quarrel have daily
Of doing 80: and on the other hand
we can perceive tha; our ffieuds the be-
coming aware that their own contradictory
sprsuces aud apparent inability 10 know their
own minds, are tie chief cause OF the i'm
perfect sympathy Of which they complain
20 bitterly At the same time ii Is becoming more
important day by day, that in England the causes and
course of the quarrel should be kept clearly. honesty
and dispassionhtey before the public eye and the ge
era mind; AID every attempt TO alter the facts, OF to
confuse the perception Of tho.n must be exposed.
Such an attempt was made l,st week, IN
the odd form OF speculation Ia In,
Times as 10 tie turn which tie impeachment OF
the President viii take, whenever bis adversy sha
have emboldened lis enemies to accuse him. The
set that the defeat Of the Federal ermy viii
divide the North, and oonsolidate the SOnih,
who the rest Of the world Is expecting =
precisely contrary e!icct the choice OF Mr.. Val
Wasiag;on AZ the type Of Presidential accusers the
that the North began the quarrel and Mr..
Lincoln the war-hese things are as odd as tie ex-
tacte from Nallandghans speech which spare us TIE
trouhIe OF desciibing that gentleman he appears in
IS, seat In COngrese II i not for us 10 trouble our
elyos about ans body's for sezing tho bret
mishap Of the Union forces 10 predict further caamiy
and impute imaginary oilcnses. We lave only TO 90
Deht 10 rs many Nc '"h tt' 'uib'
they really have been aud as they really are
II l. iact-a rather remarkable oue as IL appears
TO us-that many Of the most sensible and patriotic
men in the great Northern cities have SAID, since
their army began TO muster that they hoped the Fed
eral troops would be defeated In the two three first
battles. Thee citizens are now, Of course, unds-
may ed by the rout az Bull Ran, ad ready 70 zee that,
as lar as depends them tho misorune sbal be duly
improved. Tbey believe that taste of adyersity
il necessary 10 chssten Northern enthusiasm,
and that by danger and. calamity only can
tie quality Ct the citizens be proved, and