The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1866-08-21

The Times Of India, concludes u
long asticisson> the fnture price oF
cssson, as feilowe: s T 3 :!
$Althoushswe Nhink thsre is NO,
kYrobabiliy f cakton falling to the
rate of prices before the was. until il
is seen what free America can produce,
we have always urged that tho Indian
cuftivator must ultimately be pre-
pared for competition with his old.
rivals in the Southern States As the
prices Of commodities always tend to
accommodate themselves to the cost
OF production, 80 the cost of raising
cotton under tho new system IN
America, wffif for long time deter
mine thet etprice which the Indian
cnltivatorS win he likely to obtain.
The delusion that negroes when freed
will not work industriously, is one
that is supported only by ignorance
or prejudice. There have already
been proofs aforded, i'll America, Of
their willingness to work, and their
power to produce more than under
slavery. If their late masters do
not. like the planters in Jamaica,
endeavor to thwart the proper
exercise Of free labor, it is fairly to
be expected that the American crop
Of 1867 viii exceed the largest under
slavery. It does not follow, even
then, that the price of Indian cotton
must be depressed to the rates ruling
in 1856. The great difference to he
looked for as4regards the. negroes is
this they Will expect and must get
higher rate Of remuneration. They
will probably do more work than
under slavery, and they will do it
better, but they win require to have
spent on them far larger amount of
capital than before. Had it been
otherwise, their masters would not
have fought 30 tenaciously in defence
OF the great institution; but the con-
sumers Of cotton will have to pay
part of the additional cost which free
labor will cause to enter into the
price of American cotton.
Indian cotton can be raised at r
less cost to the producer than any
other in the world; the assessment Of
the land is much below the real
value of tho soil, and the labor i'm
mere cotton production can generally
be supplied wholly by the family OF
the ryot. In 1856, cotton WAS sold at
Nagpore at 1Ad. l.er pound, and
over 400, 600 bales were exported from
Bombay. This low price was, we
believe, remunerative to the growers,
but the year afterwards they obtained
2ttad: on the spot, and nearly third
more cotton was exported from the
central provinces. In 1853, the price
at FNagpore5 had risen to Sgd, but
that year much smaller quantity
was exported than in 1856, simply
because much of tho land required its
usual rotation of crops, the necessity
Of which the 'signorant" sryot under
stands SO we'll. These prices, even
yet. would be remunerative to the
ryots in the best cotton districts; and
if we compare them with the present
and probable prices in the Liverpool
market, it is evident there is likely to
be, for another season at least, fair
commercial profit on the chief ex-
port trade of Bombay. But the
period for extravagant prices and
wild speculation in cotton has pass
ed away; and when existing obiga-
tions are disposed of in some way, the
new men who may step forward to
take the place of ruined merchents
will probably take more sober esti-
mate of things than their immediate
predecessor have done