New Orleans daily crescent., 1866-10-02
TUESDAY, MoRNING. OCTOBER 3. 1866.
E8EGom.

sk1r Tho New Orleans Ereseentl
This future of Gotten Ii in Ehs present ana tht
future Che greatest feature in national commerce
tits the central pfYot upon which fttrns natona
prosperity oF bankruptcy. Therelations Of cotton
and gold as articles of commerce are less intimate
than The relations Of what appeara as capital and
that which Is capital cotton, the product
Tho increased and increasing price Of cotton is
but the necessary result Of the Increased value Of
labor. Gold may go up Or tumble down; it has,
and oan have hut little effect upon an article that
Is produced ID less quantity than Ii wanted. Cap
atal can only aact its far as speculation is con-
peFned and capital ii always the ally Of scarcity,
and II an other points opposed to labor. The
points To be settled before value eaR be put on
cotton are presented ID new and startling phases,
and tfmid commerce shrinks back from the task
of calculating all the elements.
English capital has been thrown into the gulf
pf scarcity, ana 10 stimulate India ai Egypt into
producing cotton has sunk hundreds Of millions
at the present prices but English capital il not
1aaatieal any more thaa any other capital, and is
wiser ii tho use Of figures and dstatements than the
RaEiags On Che Niegs. IN iiFe years, preceding
A8so-8ts the imports to Liverpool alone were
over an average Of b million bales from N ON
Orleans This year. not wanting much, OF caring
mneh for that, Liverpool takes one million from
ialIour ports and this one million Is only -four
aimes the quantity Of that received in the same
time from Brazil and Egypt. And there il now in
Liverpool larger auantitybof American (which
they say they do not want) than viii go to Liver
pool from Brazil and Egypt this next year.
The tendency Of commerce il towards centTaIi-
xation. Capital assists labor for its5own benefit.
here. This il to be the great distributing point
for cotton and the products Of the greas West, in
1
I'D be exchanged for corn and flour they must
come here because the West produces more than
Ii can consume, and the West must have cotton
The relations Of cotton and corn are not of onr
making, buIiust now, tax, freights and all must
be paid by the West; and II the people Of the
West could only see oyer the fanatical breast
works they hare raised between as they would
see that we pay them about 25 per cent more for
corn and Hour than We used 10, while they are
paying Is four times as much for olr cotton III
they used to. We should like to have another
sllufae and deal. and take them as partners, but
they seam to think they know the game. We are
content.
But though We hare no great stock Of sympathy
to throw away just now, ;we regret that while We
are taking SO much from them, Eastern capital
takes the remainder. We are simple lveFs and
dress plainly even the freedmen prefer French
on home made cloth to the Northern productions,
I and So far aa can be seen now, the West is pay
Ing the tax Oh eottaa and the great proportion Of
the taxssog the United States, united certainly
Ia this connection,
The great proportion Of goods made BY the
North that afe sold at profit are soId to the
West, and It pays the tax directly on all ii spins
md Indirectly On all II buys. The North is rich
and consumes foreign goods The knowing ones
in tile North sent up remonstrances, and talked Of
the oppressed South !, What al they mean q
Did they think thA tax would fail upon The South /?
! Not At all they saw II fall on Northern capital
and Western products, as plainly as they see it
now.
10 return to our mutton. II the Liverpool
market wants three quarters of million Of bales,
TIE continent 4 like amount, aud The New Eag.
land nails like amount, where viii the West get
its supply According 70 MeAsfs N 81 i figures Of
& crop af two and ona quarter millions of bales,
will Il list be work with Western ana soutli-
western spinners who have not fhecapltal To lay
IA years snpply So rnuch 81 r4e present crop
Is ortga aged directly to Eastern capftaIt every
factor and every planter i Interested 70 greater
degree tHan usual III tie immediate fnttrs Of
cotton.
Taking the Neils and The Barings al what they
say and The prices az .what hey say, Is cotton
worth 8ae, per pound to;day2 Then. II the world
wants hall million more than that would itzhe
rash to lay that ii will be worth p'o rate I'd that
SUM Or 50e.. when we find out that Liverpool viii
take lis million bales, as usual y.
Tylege syas narrow escape from fatal results at
d fire in d rev OF teuements az St, Louis at one
O'Clock an Thnasday morning 40 room being
aorded for the stairs within the wallis the ascent
- Ssrsa4t fftf fttn