Washington telegraph., 1865-07-26

~ COTTON OuEsTIoN.-Many and
IN NJ ar. the Cuts which are from time
VAN ,;me shed upon this important ques-
70 49, close observation OF the course
TioI' [aw Yo k market cannot fail to
o. ross '"o every one with the belief that it
il"P.r inundated by a set of willy specula-
,sb, shift the scenes to suit them
"IS and make as much by the fall as
E+ STl,I tbs rise. Selling cotton for futur'' de-
- ~ or selling short as it is tech
-:.,lIv called, Is as common among cot
,nerators now, as it was among gold
..0,n.1l.rs .0 during the palmv days of VIII
iflm street ,.
The "moius operandi'' is simple but
: sofive-lor instance, thu market Is
sroyaat, demand good from spinners; the
.,nbIic take hold keen'y, and buy up all
is stock in the market Suddenly YOU
ors lif an operator) startled by tele-
,,raphic report that one hundred thousand
lilies of cotton have been found in some
southern city, and theinference is drawn
that it will all be put on the market
vitbin thirty OF sixty days Timid hold
~ hasten to sell out, and are confronted
Iv standing offers from the managing
snpeuia ators to sell, deliverable within
tiirtv DAYS, any amount of cotton at FIVE
ar ten cents below the current quotation
Asa natural consequence prices decline,
and the lower the price goes the more the
Baqrs hammer it down Common sense
l.as$rrs her sway after q time; the i'm
nrHse discove, les do n,t find their way
ia market, and The result of inquiries de-
v,lops the following facts: Firstly, that
Instead Of 100000 bales. possibly 10000
ar $4,000 were found. Secondly. it was
ia Il damaged condition, requiring re-
l.iiag in nearly every instance, and
l.g, pogtion OF it to ally unfit for any
rlag, except to make batting or paper;
and thirdly, owing to insufficient means
af transport tioa, many months must
necessarily ella St, bcfo ei; can be placed
ia the Eastern markets. Quick TO o6-
serve the change in public opinion, the
Bears become "Duls;" articles appear,
mrpnrting u came from Co respondents
il the South, stating that the amount of
tltton remaining has been tremendous Y
oteroatimated-tiat two or three years
,xposur,' IT, rain and dew has ruined i
hrge p rtinn 0f 1t. and, as q coup de
grace" tha, the terrible gu .rrilla. who
.celrrS II lite amid his native swamps
.sl ca.ehrases 10 blugation. is deter
aHed ,u bUrn the last bale. rather han
It sa.li3 fall inlo the kanis o+ the hated
Iaubce just as ready [. swallow the
hlit in thus instance as tue other, the
ronpllissut public rush in, and accom-
moaatr lii" chirt sprcu.ators by aking
their stocks IF tnrir n1nds at Il hand
.pmr proir And 81 it goes, rs long as
there is Gav 60 outside ''the ring"
The following quotation from late.
New Orleans Commercial R-g:ear. allud-
ng to the present decline in cotton says:
This revelation IS even less tllau might
have ben expected, from i!.e heavy Of
lecngs by The government at public SHE,
an the rytraYagaut estimates made by
iap press and IN private testers, of the
smnur,i remaining the interior, aui tho
rrobaJlr extent Of the discoveries at the
seabp,rd, ON the Liberation Of trade from
the military orders hy which it has been
hitherto restricted The simple fact that
ine principal demand, during the pas,
Week. has been from spinlers aud their
gents ou the spot, who have spared no
Iaigs tn obtain correct information with
ErgarJ q the pr"sp-ct IF our future 81 =
Plies. and have vet been free buyers of
tlos" frscri ptioss most in reguest. should
Ma.,e Northern operators distrust the px-
ag-erated estimates w have referred to.
and Indicate that, f the demand for
foods to replenish the exhausted stocks
% ihr South Is nearly as active as is es-
tmatrt. the Northern manu- 'acturrrs will
Tant every bale that may be reasonably
etlsc.ed for tn rest of th.- season"
The forrg ing is dirrc ly to the point
The stock OF cotton at the rincipal mar
hets Of the United States. will probably
not exceed fifty thousand bales, most of
which is OF low grade, the better styles
o7iag notoriou lv scarce everywhere.
from the Southern States, wh-te plant
Ing cotton is attempted, there comes re-
l9f,s that the negroes are restless and
dissatisfied, and fears are expressed that
''7 crop now in cannot be- gathered for
want OF labor. The productive cotton
lands of the Mississippi river were inun-
~tgd this spring, and for 4 long time
viii b unfit 'ior planting purposes. With
.ueSe iactA before liz. th~re seems to be
Wi li-l-e doubt thai all the cation in
Market will be wanted by manufacturers
within short time, and higher prices
'gialn That The muk Is of the country
"ItA"t he subject to violent fluctuations
Ear~Sult not to b. expected so long as
'1'chrrS. b,k"rs, taliow chambers, ct ad
c'ae s~aHr, continue to place themselves
ID 'a- aauis of the SPECTATORS, known
-'a'i.sry "a "the rias.
81. Louis Republican