New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-10-09
Cotton,
For The New Orleans Crsscent.l

For the New Orleans Crsscent1
Capital being the medium or agent by which |
exchanges are made, it is of grave Importance
how cotton can be best handled to get all the sup
port possible from capital. Before this ship |
ments on time and sight bills have been made to
relieve this market and find better one; but at |
this time it looks like putting our heads into the
lions mouth. Prudence, safety and the most
stringent commercial rules must be consulted if
| we admit that there may be any excess of the
cotton supply. Prudence and safety suggest that
| it is the best plan to coneede now that we shall
have two millions and quarter of bales; because
if there should be no more than this quantity, it
will find market at present prices while an
under estimate would only advance prices for a
little while, to be again depressed below the
actual value Of the article. New Orleans should
be prepared to receive and sell one million bales
| of this crop, and not be astonished at getting
twelve hundred and fifty thousand. Every infiu-
enee except the tax law favors the Capitalization
of cotton in New Orleans. Here ships come for
Western produce, and steamboats, for foreign pro-
/ ducts, and New Orleans must hold the medium of
exchange in sufficient amount to meet the con-
4 tingeney. ... .,.. .,s.5 ...
The fluctuations from day to day are of no i'm
/ portance just now, because new laws and new
agencies are at work; and instead of our looking
to Liverpool and New York for guides to action,
we shall soon see Liverpool and New York looking
this way. American cotton holds the balance of
4 power in the product of the world--so all the
Il figures say when rightly put. The present crop
has been raised with less assistance from capital
than any previous one, and will command more
help from capital in its sales than any previous
one Capital will seek it here so soon as capital
finds an object in it; and, in few weeks, it will
be safer to invest in cotton than in gold. The
ready absorption of all the new, and twenty
thousand bales of the old stock is evidence Of the
wants Of spnners. Figures that do not lie report
, the current consumption Of this country at over
4 one million bales, the wants Of England at eight
hundred thousand bales, and the wants of the con
tiuent an equal sum. Dividing the crop Of Egypt
d. between England and France, and allowing it to
be all that is estimated both are found short with
full India supply. It is useless going further
back than last years supply to see this. In the
eight months ending September LIST, Liverpool
took of India, in round numbers, one and halt
million bales from Brazil and Egypt half million,
Tin our bales] and from this country one million
4 Here are three nilliens of bales, and only
! in two thirds of the year. The exports of Amer.
lean during this period will not equal the supply
Of the previous four months, and the demand al
f present prices, can be put down at million bales
But an interesting question of profit and loss has
! all application here. The figures are not easily
: got at, but, by the reports, about two hundred
million dollars have been sunk in this India cotton
business; and it Is fair inference that it will not
come in such amount again, except in remunera
ting prices, which would evidently be above the
! prices Of the last eight months, and lis fore
Swallowed in recent circular from Liverpool
thus:
The most striking feature in the figures as shown
in the returns Of to-day, is the steady decrease Of
. stock that has been going on for the last three
!, months, 1.-THE reverse OF what took place at the
same period last year., and the still greater con
q traction of the cotton at sea list.
i'll And again:
Its worthy of special notice that for some
months past, in fact, since the beginning Of the
present year, the quantity taken for consumption
: and export has steadily increased.
The general opinion here is that so soon aS
, IprcesI Of the raw material begin to s7loao a
, little tqTeness, an abundance Of orders 21N b
placed.
Since this was written all that was proposed
has come to pass.
And now for the future: Estimates being
= from one and three-quarters to two and hal
millions Of bales, las the American crop,) shoul
! 1t amount 10 Two mlltlons, we may calculate on
I least one million two hundred thousand bale
n being received here p but /" owing to low price
a tho e0inter shipments from India aoiH be les
u causing the bulk of them to arrive here from Jun
Z onward"
Of These extracts are taken from the circular c
he Robert Lockhart & Dempster. They estimate til
b. probable stock in Liverpool on the close of til
year 1866 at less than one half million of bales
after getting two hundred thousand from thi
II country, and estimating consumption and expor
aless average than both have beencurrently est
mated at, say fortYseyen thousand bales per wee
Ii for consumption, and eighteen thousand bales fc
ii export. The only comments now to be made al
is that these figures for September are more tina
ID doubled; that Liverpool can hardly get hi
Is twelve hundred thousand bales from this countr
Of and that she will soon be threatened with wor
cotton famine than she enjoyed during the wa
AL