The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1866-11-06
The Supply OF Cotton.

The following extracts are from an
able article in the November number
of DeBow's Recier:
"The causes which are depressino
the price in the foreign market. and
of course IN our own, are explained
in the recent circulars of Liverpool
brokers. They are the stock on
hand, amounting, as before stated on
the 1st of September, to 800, 900
bales; the amount (nearly 500, 600
bales) of India cotton now at sea for
the British market; the expected re-
ceipt of several hundred thousand
bales during the fall months from
America; and lastly, and principally,
the fact that large amounts of cotton
have been hypothecated to English
bankers to secure advances during
the recent stringency in the finances
Of the country, which are being
forced upon the market to satisfy
these advances, added to reports from
America of large crops expected.
The intimations in these circulars
are plain, that these causes of de-
preston will be merely temporary.
The stock on hand will soon be con
sumed by the home and export de-
mand, amounting now to some
10000 bales per week No more cot
ton is to be shipped from India for
six months to come. The bankers
will soon be satisfied, and there will
be no further reason for urgent sales;
added to which, it is more than pro-
bable that the English money market
will soon become easy again, when
the speculative demand will be re-
vived. 1t is Il significant fact, too,
that on the 1st of September there
were at sea for the English market
only %, 600 bales, and that the whole
number in transit, principally from
India, was smaller than had been
known for months before, being less
than 100000 bales
''Ihe policy which should, under
these circumstances, govern the
course Of Southern planters is plain.
Where it is possible, let them by all
means hold on to their crops until
these causes of temporary depression
have been removed, and especially
until the extravagant reports of the
large crops to be raised by them
during this season have been correct
ed abroad These reports have been
lndustrlously started and indus
trlously propagated, from motives
which are easily seen and understood.
The game is being adroitly and sys-
tematically played, with many odds
against the producer, whose toll and
vcxation entitle him to the stakes,
and unless he is wary, they will be
snatched from him. Where stern
necessity does not compel, let him
rather prefer to count his bales than
his greenbacks, until the propitious
time shall come, and as sure as he
lives, he will reap high reward for
his labors. But if haste and hurry
are to rule the market, it will become
glutted, aud he will get q mere pit
tance
"We think one thing, 1T least, will
be conceded by all those who have
had any experience in the cultivation
Of cotton; and that is, that unless
those who make it can receive more
remunerating prices than are now
beng paid, the production must ra-
pidly decline; and none will be more
ready to admit this than those who.
having no knowledge Of the mode of
its cultivation, have blindly rushed
into the field with visions of the
golden harvest they were to reap.
After deducting the three cents per
pound tax which, of course, must
come out Of the pockets of the pro
ducer, and other expenses incident to
the shipment and sale of his cotton,
but little is left to the planter as net
gains at thirty cents per pound,
which, by-the-way, is rather more
than he can expect with the present
market. The average quality will
not be higher than what is styled in
the market low middling' or good
ordinary, for which, ut the present
rates, he could not expect more than
twenty-sevcn or twenty-cight cents
per pound, or about twenty cents
net, which can be but barely more
than the cost of production.
BLOOD! AGo, BLooD!-According
to REPORTS from Conodo +ba ,,oo,,Io