Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1862-07-11


If cotton is indeed a king, the time is at hand
TO manifest and yindicate his title to sovereignty
within the sphere of his royal domains
The downward progress Of the stocks OF the
great staple has nearly reached bottom IN the
open markets Of the world.
In March, 81, according to the cotton tables
the stock stood:
In American 750oOe
Aaoat and at Liverpool. sls,Ut
L655-a %
In May, 1862, it stood:
In American 2l5OOe
Ahoat and at Liverpool. IoIO0
1a5OOc
The continental ports and spinners every
where hold stocks showing a corresponding de-
crease. At HaYre, in May, the stock was A.
600 bales against 100000 last year.
IfEurope cannot do without cotton, the period
has been reached to show it. Can she do with
out it We will answer the question by an ap-
peal to foreign authority. The London EcORO-
mist, before the present war, pu. this opinion
upon record: "The supply Of cotton from AHCr-
ca IS a condition Of ERgiaHd'S political existence. "
Upon this text a leading Northern journal
wTOte-alsO before the reYolution-as follows:
"In the able articles on this subject that have
lately appeared in the Economist, il is fully
proved that the United States still have and sHi
eUeT haze a virtual monopoly Of the raw cotton
Of commerce" Alas for the Yankee prophet
the United States no longer holds this monopoly.
1t belongs now 10 the Confederate States Of
America.
Mr.. Msckay, writing from an English point
Of view, said:
Z" A regards the supply Of cotton, we are as
much at the mercy Of America as if we were
starving, and to her alone we look for food. She
need not withhold her wheat. America could
starve us by Withholding her cotton. True, it
IS as much 10 her interest as ours to act differ
emily, and so long as it continues so, no diff
Guilty will be experienced; but a combination Of
circumstances may be supposed in which Amer
lea, at little cost TO herself might strike US an
recoverable blow. A crisis might arise when,
by mOmentaTily c~rippling our industry. she
might push in and deprive us of the markets Of
the world. And who, shonld the opportunity
arise. will guaranty her foTbearance Fill
England with these provisions, let her haTbOrs
be ehOked and her granaries bursting with her
stores, what a spectacle would be presented on
a stOppage Of one years supply Of cotton It
would do more to PROSTATE her in the dust than
all the ornaments which America and Europe
combined could huTi against her. What a ire
mendious power is this in the hands Of a rivalr'
Such were the prevailing sentiments in Eng
land before the war. But this rival" is no
longer the United States. The United States is
now as dependent upon the Confederate States
as England and any other manufacturing cOun-
try for her yearly supply Of cotton. The riraly
is now in the South, where has been laid the
foundations of a new power, looming up by the
sword and the will Of Providence, and preparing
to take its stand in the array of nations, backed
by every element of national prosperity and
strength. Holding a monopoly of the great sta
pie SO necessary to the world, the Confederate
States is destined to play as great g part in
policy as she has in war. With wisdom forecast
and firmness in the conduct of her foreign rela-
tons, the Confederacy holds a hand which must
make her one of the greatest among the nations
Of the earth-MObIe Register.