Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1863-07-10
An UScEREMoNIous VISITOR.
EUROPEAN INTELLIGENCE.

<S-&N-t>-
EUROPEAN INTELLIGENCE.
TIE CoTToS SUPPLY AND THE AMERICAN WAR
Ncill Brothers. of Manchester have Jus
issued Il circular, from which we extract thu
following passages;
Seven months have elapsed since the issue
Of nur last circular, that of October |, lS62.--
| After Il contest Of some eighteen months he
| tween buyers and sellers. an equilibrium he
tween supply and demand had then been at
taincd. Middling Orleans cotton was quotcc
at 2j!d. per pound AT Liverpool, and the stock
of all sorts was reduced 10 lj0GDu bales
But the great advance in the price Of cotton
was at last reducing consumption below th,
capacity of the growing countries 10 supply
even without the aid Of America.
For the 81 weeks which have since elapsed
the average weekly imports has been 3O.SOl
bales, while the weekly demand for home con
sumption has been restricted to Is, lao bales
and for export 10 $500 bales, making IL tota
weekly demand of ~, ,G3O Bales. Thus, witt
but trltiing assistance from American sources
| supply has gained upon consumption To the
extent Of G,0U0 bales per week, AMI the stock
of all kinds now held ut Liverpool has in
creased to 1863, 900 bales. Hence the price OF
Middling Orleans now stands at 2lid. per
pound. decline of 4ld. us compared with the
October quotation. This decline, however, is
confined to cotton of the better staple-Amcr,
lean, Egyptian, Brazilian. and the like The
higher grades Of East Indian, which have
borne the weight Of consumption, have been
better supported, and after IL temporary de,
cline fair Dholera is now quoted Il I'd. against
l7sd. in October, and middling I'D. against
l6d at that period.
But we regret to say that in looking forwlrt
to the future, the improved relationship o
supply to demand is not likely y .ys cent?. to susI I
on the same scale. In ordetes Of the denomination
probable supply s lssa, shall no. exceed the sum
when VIII cater the ratification of trsatv of psss.
should reach hiederate States and the United States,
son, it is necessary to public dues except the
last year, and to modify
circumstances From May lst till September
2G'h last year, the import of East Indian cot
ton was 2Is, 900 bales, and of other sorts III =,
600; total, 39j, 900. For the same period thi:
year we estimate East Indian 275,0O0, and d
other sorts, lGj,000; total, 10000. Thi:
estimated increase is based, so far as India i!
concerned, chiefly upon the development Of the
trade in Bengal and Madras. and upon the in
centive Of high prices drawing forward littl,
of the new crop earlier than usual. As regard:
the supply from other countries, the increas,
is expected tocomc chiefly from Egypt, Smyrna
and other districts in the Ottoman Empire.
But while the utmost importation we cal
fairly look for is thus only 40 300 bales fO
the five months, We estimate the consumption
as follows: The home consumption Of all sorts
which had lately fallen to. about lj,UU0 bale
per week, has doubtless, under the recent in
crease ot demand for yarns and goods, in
creased to %, 900 bales; and, as it is still rising
there is every probability that an average %
2+,O00 to 25,0O0 bales will be attained, un
less checked by too rapid un advance in til,
cotton market. We may, therefore, fairly IS
innate the consumption Of the ensuing TWEEN
ty-onc weeks at IN average Of not under
% 900 bales per week, Or an aggregate o
4S3 900 bales, against .iS6, 900 last year ant
we shall take the export at 10000 bales pc
week, or 900 against 22G 900 last year
We have thus to meet demand for G93 ,OUl
bales, with an import not likely TO exceed
10000. 1t is, therefore, evident that tht
present stock of :}96,000 bales will have t.
bear serious curtailmcnt during the sum
mcr--a reduction probably to 100000 ol
l20. 900 some time i'll the month ot Angus
or September.
As regards the prospect of renewed supplies
from America, we have nothing cheering Il
report In our October circular we fore
shadowed the rise Of an anti-war party to bt
formed from among those (the Democratic sec
L., hoI lon,, inI ,ptl
the policy Of the Government. But VIC arguec
that even should such Il party arise, obtail
power, and admit the hopelcssncss Of the at
tempt to subiugate the South, they would sti!
consent to fight for Il desirable trontier--on'
which would give the North prcpondcranc'
of territory. Events justified these anticpa
ton, much more speedily and decidedly thar
was expected. The rise of the Democratic
sem-pcace party was SO sudden and brilliant
As to surprise, and almost alarm, lrs own
leaders. 1t became clear that with the n ortl
divided against itself, the South would he IN
a position TO dictate it, own terms, the Demo
ratio border Ssates would be lost, the Uhon
narrowed 10 the breadth Of the State OF Ohio
and the Democratic party left IN hopelcs,
minority. and permanently excluded from pow
er Neither the interests Of the country nor
of the party appeared to them to Justify these
sacrifices. Better it seemed 10 have another
year Of war, with the chances it might give OF
Il more Southcrly frontier, and until
this can be secured, it now seems probable
that the leaders Of the party Will be u
warlike rs the tiercest Of the Republicans -
The latter, thus supported, will be able 10 re-
sist the more pacific tendencies Of the lower
strata of democracy, who, actuatcd by their
prevailing sentiment Of hatred Of the negro,
in behalf Of whom, a. they fancy, they are
now called upon to fight, have long manifested
their dissatisfaction. \ crisis in the struggle
must occur during the ensuing two months
upon the expiration Of the term Of enlistment
II the nine months men but, however weak
the Government may be in the South, it is al
present unusually strong in the North, and
will probably surm"unt the difficulty as 1t has
80 MANY others. however serious il may appear
at the time. The voices oG the numerous but
uninfuential malc0ntents vii! doubtless, be
drowned in the war cry Of the majority, who
control the legislature. the press, the pulpit
the platform, the army, and. Of course, the
contractors and dependents on the Govern
men;. whose name is legion. If not strong
enough for aggressive waTfar". the Northern
armies may iaI back Un"n Washington a"'
kcntu:kr. .4..l stand upou the defensive.