Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1863-12-25

Stock on hand l5t Sept, 1858. % 900 900 4"
Various estimates have appeared at Esrent times in
51uthcrn paps s. mADy Of watch pllce the quantity at
500 900 bal>s in the COnfedsracy. Perhaps an esti
mate at 900 900 bales the lst January, 1854, will not
)s far wrong OF this amount The GoVornmsnt owns
about 800 0GO bales.
Toe average pr &C of cotton in Treasury notes this
| me S, perhaps, Ola dollar per pound. or $500 per
sal bale. lis higher than this pucs near
me blocis unning pOrs. The value OF all the cot
on in the Coniedsracy by this calculation is abou:
twelve hundred millions in Treasury nOtes sum ore
third larger than the entire expenditure far of the
var Yet S0OOO 900 bales but three-fourths Of toe
OF one years crop before the cultivation Of cot
was interrupted and scarcely equals the amount Of
our annual puI af.er supplying all the domestic
SAINTS Of the country. At pcessas European prces-as
.Eo.thrd5 OF lar per pOund-it would amount to
slm in gold or exchange, 60 Ia dollar for dollar to
every Confederate due the war began. ghl not
s,se tso.s suggest ssme line of pOlcJ to the worthy
OeGds Of the State Treasury Departments that would
Dc calculated improve the situation both Of our TO
reign relations AID our 6nSneess
Tho value OF 5000 900 bales at one dollar per pound
Treasury uotes, at the present depreeistiou OF our
currency. is about sixty millions IN specie Tnas
is jus. GO AL to the specie coupons of the thou
aad million lOan propoei by tie Secretary of the
Treasury. just equals, the specie tx watch he pro-
poses TO lay 70 NEE. hs interest those bonds. The
loan seif the ct Of which Is merely to consolidate
debt Of the country refused to specie at present
ates, would realize fifty mi lions Reducing the values
4 all those to the basis it then appears that for
loan OF ffy mOrs in specie he Secretary proposes to
i - ,e l.,
currency To meet this interest the Secretary proposes
tax of sky millions in specie upon the country, equal
at cur present market prices to the specis value Of
900 coo bales Of cotton Blu; this amount Of cotton
eau command q in Treasury notes onsthird larger
saau the entrS debt of the war Can Is not be utilized
u that ondP We think it can to considerable extent
ald viii demonstrate It in another connection but not
now.
The proportion Of cotton imported by England twas
about so per cent of American and 30 per cant from
o.-er quarters. Owing to the greater exporting oil
inferior cotton TO the continent han Of the American,
she proportion Of the latter ia England stood generally
a. about IS per cant Il had become customary Ia Eng
AID and also on the continent to bold two years sup
ply of cotton oa hand in advance. But by the excess
OF importation Of the crops of 1883, 1859 and 1850
-t Va 'ue i@se0A JSN. SN'Db Wv A's0 "uS~ASN NN q
July, lsel-a European supply for three years ahead
Ess on hand at the breaking oct of our war. ecu
rpsan as we'll as American stAtesmeu," Gays the Man
chester Examiner mot being aware of tho details OF
mercantile sRiirS committed an error in thinking that
the war would at once create 4 cOton pinch They
not only made allowance for the usual two years.
supply over in stock but for the extra quantity equal
to an additional years vAntl" But they are now on
their last years supus 1; estimated that on the
l. September, 1893 che warehouses will contain but
months supply of cotton a-d cotton goods; whereas
they should have enough for tive years" "Cotton is
now selling at Liverpool a. famine rates" SIT will re-
qure three four Of excessive crops to bring
cotton down to is nominal price. Not only has the