Daily union and American. [volume] (Nashville, Tenn.) 1865-1866, 1865-12-16

| Il recent circular rom an English house
well known in the cotton trade, and con-
| spicuous for many years by their trustworthy
| statistics of cotton-the Messrs. Neill Brothers
| give us some very interesting data on this
| important topic. The different partners
have traversed carefully, since the war, the
| various portions of the cOttOn-growing States
one taking the Atlantic States, another
| Tennessee and North Alabama and Missis-
| sippi, and third Arkansas, Louisiana, Red
River aud Texas.
Widely conflicting estimates of the South
en stocks Of cotton have been confidently
put forward since the surrender of the rebel
armies, some running as high as 100000
bales, and others as low as 100000.
The most favorite figures, and those which
| it was understood the Treasury Department
| had sanctioned, from investigations made for
revenue purposes, being 100000 bales of
all kinds, old and new. The Messrs. Neil,
however, have arrived at the conclusion that
| the supply will count up from 100000 to
100000 bales, of which they estimate the
old stocks at $4,000 bales, and the growth
of this year at 100000; and it appears by
the data they furnish that more than half
of the entire quantity, viz, 1850, 3O4 bales,
have already been sent to market.
This fact alone seems to justify their csti-
mate that the total will not fall short Of
100000 bales, hewever much it may ex-
coed it.
The history of the war may, in measure,
be traced in the facts which this business re-
port discloses. Thus, while the aggregate
figures represent about half a crop Of the
years preceding the war, the Carolinas, in
Messrs. NeilPs estimate, only stand for no.
600 bales, or about One-tifth of an old crop.
This is doubtless explained by the fact that
the great ports from which cotton was shipped
during the war, through the blockade, We're
Charleston and Wilmington, which thus
drained those States. The great State of
Georgia was Theoretically sealed, and the bulk
of the crops of 1861 and 1862 would have
been found there by Gen. Sherman, had it
not been for the home manufacture, for
which Georgia had long been distinguished
among Southern States, and which attained
to considerable importance during the war.
Notwithstanding the quantity of cotton that
must have been thus used up, this State, in
connection with Florida, stands in the
present estimate for $4,000, or about half
an old crop.
Alab ANA suffered less than any other
Southern State, except Texas, and had il
not been for Wilson's great raid, nearly
whole crop would have been found. And
even after allowing $50, 900 bales for the
destruction thus effected, the State is esti-
mated to yield 100000 bales, of which 220,-
900 have already been delivered at Mobile
The extensive region drained by the Mis-
sissippi suffered much more severely, the
presence of contending armies having been
felt ever since the Summer of 1862, much
cotton having been destroyed to prevent its
falling into the hands of our armies, or con-
fscated by them, and long since forwarded
North.
The total receipts of old and new cotton
at New Orleans are estimated at 100000
bales, Cor only about one-third Of former
crop,) Of which 49,, 900 have already been
deliver.
1t is pleasant to turn to a State from
which we have TO chronicle no falling off.
The crop of Texas varied for few years be-
fore the war from 10000 to 100000 bales,
and the supply of the present season is esti-
mated at 10000; or about an average Of
former crops, notwithstanding the fact that
large quantities of cotton were exported for
the last two years of the war via Matamoras.
This satisfactory supply is accounted for by
large planting the present season-more
| than half Of 1t being new cottOn-and the
still but for the depredations, not Of the
rebel or Union army, but Of the "army
worm," the most destructive guerrilla
known to the cotton crop.
From another quarter the report is very
satisfactory. Memphis had become an i'm
portant cotton centre only few years before
! the war-her receipts amounting in one sea-
son to as much as 100000 bales TO the sur
| prise and jealousy of many of the older mar
| kets. But large as these figures are, the
present estimate 100000 bales for Tennes-
see and the neighboring Counties is not be-
! hind them.
This is confirmed also by the fact that
! 203, 600 bales have already been delivered.
| Nearly one-haf of the total estimate tor
! 10000 bales is put down as neC cotton, and
this is the most encouraging feature in the
whole case, as nearly the whole must be the
product of free labor-that entire district
having been within the Union lines for the
| past two years.
This large supply Of cotton will be an i'm
portant wind-fall for Mr.. McCulloch. At
the former average weight Of the bales, AGO
pounds, the total weight of 100000 would
be 960,000,000 pounds, upon which the rev
enue tax oftwO cents per pound viii amount
10 Sl9, $40, 000-an excess Of 81, $40, 900 upon
( the sum which 100000 bales (which l. I'M
derstood to have been the Secretary's est
mate would have produced.
Another important consideration is the ef-
feet of so large stool; and so large an export
able surplus Of cotton upon the money mar
ket and the exchanges. At present our
spectators, aided by the currency imitation,
are " carrying enormous stocks Of cotton.
100000 bales have already been deliv-
cred at the ports and Northern and Western
towns and it viii not to those that know
the trade, seem unreasonable to presume that
half of what remains in the interior has
already been bought from the planters, and
paid for by Northern capital. No wonder
that money has become scarce and dear, for
the whole estimated supply, at present
prices, is worth S400, 000G00, and of this
the proportion exported thus far is only
about one-sixth. Let the stocks Of cotton
and grain be moved forward more rapidly
by the holders coming on the market, and
we should hear no more of advancing rates
for gold on account Of the demand for ex-
port or of declining prices for our govern
ment funds.