Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1863-08-19
Bales.
100000
100000
100000
100000
10000
$4,000
100000

Stock on hand on the LIST Sept, 1868, 100000
OF this quantity, however, it is not likely that
more than 2O0O,O 200 bales could be sent to market
prior to the close of the shipping season in 1864,
under the most favorable circumstances one half of
which will be required by the manufactures Of
American States. Should peace be concluded by
the LIST Of July, more than year there after would
DO needed to place the inland transportation facil
tiles Of the South in the same condition that they
occupied previous tothe war and in the meanwhile
the process Of getting the cotton 70 the ports would
not only be very tedious, but very expensive. The
usual imports OF cotton into Great Britain consist
of eighty per cent American and twenty per cent
other Sorts The exports from here to the CONT
nent being principally Surats leave eighty five per
cent Of American to make what is known as British
fabrics of which there was an extra large stock in
all parts Of the world at the breaking out of host
ties. In fact the American crop of 1858, 1859 and
1850, averaged an excess Of 600 900 EACH an &C
cumulation in the three years of 8, 10000 bales
beyond the wants humankind. This extra quantity
received fictitious consumption by being passed
through British looms, an additional spinning force
Of thirty per cent having been put in motion when
there was no occasion for such increase, as cir
cumstances have proved.
This was equal to years demand, which with
the ordinary two years supply of cotton and cotton
goods always on hand, made the importing countries
independent Of the South for the period Of three
years, assuming that the warehouses would be en-
tirely emptied. Twenty six months Of that time
have already elapsed, and thirty months will have
TRANSFERRED be fore any possible relief can be expe-
rienced. Cotton is now selling at Liverpool cat
"three prices" or famine rates. What then must
be-its value few months hence Surely the ware
house floors cannot be swept clean.
After two years Of agitation" on the subject in'
creased supplies do not come forward from India
and other countries the additional quantity thence
not exceeding the great waste in the Federal States
for war purposes. Nor is it probable that there
would be any demand for such tout side produc.
tons. They may answer for certain descriptions OF
manufactures for home use, but the great export
trade of England is in goods made from American
cotton, and it seems folly to imagine that India can,
in any event. occupy the place of America in this
particular. unless by some freak of nature, the pc
cuar climate influenced by the Gulf stream, and
other advantages possessed by the States for the
culture of their staple be transported to the far
East The average consumption on both sides OF
the Atlantic subsequent to the discovery OF god IN
California and Australia, has been about 3,OOO,000
bales per annum; for ten years preceding that
epoch it was only 900 bales Iii reasonable
to suppose then that upon the recurrence OF peace
the demand will greatly increase.
. On the first of September next there Will be only
one years stock Of raw cotton at the old estimate,
and the warehouse will contain but six months
supply OF cotton ana cotton g0OOS Whereas uoy
should have enough for two years. This makes de-
ficency equivalent to 100000 bales, taking into
consideration the ordinary stocks, 100000 bales
below what was in existance at tho consuming points
at the time of the fall of Fort Sumter. 1t will,
therefore, require three four seasons of excessive
crops to bring cotton down to its nominal price, MOI
only has the ordinary demand to be supplied, but
the usual stocks have to accumulate. The capita
withdrawn from the cotton trade by reason of Ameri
can war has been the means Of founding joint STOCK
banks and financial associations in turn the SAM
funds will pass through these new sieves into thel
| accustomed channel
The foregoing statement differs from one inserted
| in your columns some days ago to the extent Q
1000 900 bales the writer of which overlooked tn
| quantity consumed in the Southern States. Thi
however does in no manner diminish the resource
ofthe Confederacy; the contrary, it augmsnts tn
wealth of the people ofthe South $1,000 900 bale
will net more money than 100000 bales, thapric
ruling higher and expenses less. European as we
as American statesmen, not being aware Of the d.
tails of mercantile affairs, committed an error i
thinking that the war would at once create col
ton "plnch.' They not only made no allowanc
for the usual two years supply over in stock, bu
for the extra quantity, equal to an additional year
wants. Although the earth's productions that ar
used for food rarely carried the year of the
growth, in consequence Of their perishable nature a
those commodities required for clothing are genera
4 ly held in sufficient quantities for two years col
4 sumption.