, 1863-08-14
COTTON PROSPECTS INTHE
SOUTH
opIpion Of Gen, Neal Dow.

From the Manchester (Eng.) Examncr.1
Gen. Ne1l Dow, IN letter to tho Secretary
Of the United Kingdom Alliance, dated from
near Port Hudson, on the as3d June, says:
thing In your paper relating to the cotton
famine, and its Consequences to the Engl lish
people nn.l to British interests: Your maui
1nctnrerspught to know that they will get no
large supply If cotton from this country for
come time to come, # ever again: that they
may arrange their affulrs accordingly. The
slave system Of this country IS already com.
war, and for all induetria1 purposes Is dead.
The planters hare always declared that the
cotton culture is impossible With any other
than slaye labor; and while we do not believe
this to be true, set the planters are sincere IN
that opinion, and will not only be dislnclined
to try system Of free labor, but will be,
from temper and prejudice. determined
they would seem to acquiesCe In the policy
and principles Of Of the hated Anti.ShvcrY
men, to which, as body, they will not yield
for many ycArs to come, nor at all, indeed, In
the eprcsent generation.
Tic planters. as body, arc ruined by the
rebellion. While few Of them were very
rich, and arc Jet 90 to considerable. degree,
the great majority of them were otherwise,
and were living every year upon the credit Of
the ensuing crop. That Was the general sys-
tenn. They had no floating capital. but all
they had Was invested In lands and negroes,
mostly In the latter, to the extent in al, for
negroes alone, Of four. hundred millions Of
pounds sterling. And now this vast amount
Of capital Is sunk by the rebellion md yan-
ished, as completely as ii 1t had been destroy
I'd by fire Or Hood. For q great deal Of this
capital the planters were indebted to mer-
chants md elave.trnders, by whom the ne
groes were sold on one,- two, three and four
r,$t 31t n11net
security Eortcage on part or Ill Of his pro.
perty. The large profits Of the cotton plant
e1s were not permanently invested in any why
outside his business, nor Indeed at all. but
were put Into more negroes and more land,
and thus the cotton culturo was stimulated,
and extended to the utmost limits Of the
ability Of the planters to obtain more land
the price of slaves to almost fabulous az
tent; so that the re-opeD1ng Of the African
slave trade ,Nns generally discussed in the
cotton and fugar States, and Its cxpediency
and n1cessEy were inslstea on as Of vital i'm
portance I'd the South, It was said that the
ctue1ties of the African slave trade,, except
the erowdirg In slave ships, which would not
be the trade were legal{zed. They said the
slaves from Maryland, Virginia, North Caro-
1ina and Tennessee. sold South. were TORN
away nom home, kindred, md friends, In:
~A~@tA
sayage Africans endured from the same
causes. That # slavery was right, the supply
Of tlayes xaa alBo right, nnd that It the trnec
was properly regulated, It's cruel fsar
tufca would disappear; and that slaves
'5I WIa.eas thsv were now eomneied @ to- to nav S ID
tho American sl@ve.bIeedIng States from one
thousand to twenty five hundred dollars for
each elayc and In accordance with this rca
sonipg, scme carEocs Of Slaves, we're actually
imported Into the Gulf Stotes in defiance OF
the Law, aud the results Of tho adventure
States in fayor Of the 1e.opening Of the AID:
can slaye tnde, and prepared the way for the
rebellion, because the planting States perfect.
II well knew that the 70 opening Of the alaYe
trade within the Union was Impossible. 4
gentleman Of New Orleans, well acquainted
said that If tie debts Of all the planters were
paid, not three hundred of them wonld have
money enough left to paT for dinner at {
hotels The peace, when It comes, vii
find the planters, as Il body, entirely
ruined, and -. nuraened with H., 1917g lasgt
ever 10 pay, their slnyes converted III
to fIeemen, Instead Of cash, and their lands o'
| small value spnrt from the labor which hat
| given them price In the market. The mer
chants and traders to whom they are largc],
indebted for supplies and for negroes, and VIII
/ 4uIu4EuEQ tuCiil Will LuElT uEtGlA u02tlIlE
/ capital, will find their means largely or entire
II absorbed by these debts, and will be unabl'
or unwilling to lend capital to MD in inangu
rating tree labor system. If the bottom cul
tnre Is to be continued at nil in this countr,
after the suppression Of the rebellion, it vii
be, think, By new men who will succeed tt
tic estates Of the ruined cotton planters, wht
| vil1 have neither the means, the inclination
nor the knowledge necessary to carry on th'
business with lind of labor they arc unac
| quaiRted with, and which they cannot pay TO-
a very long time, as any one can see for neV
set Of men with sufficient capital to take n
the cotton lands and bring up the culture o
that article to its former extent. 1t is india
| pensible therefore, If the cotton manufacture
Is to be continued In England on Its formo
scale, that other resources Of supply than til
country should be provided.