Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1866-02-22

/ industry. When this law comes to operate
fully on the freedmen, we shall see whether
they will work or not. We must make al
lowances for the effects of sudden emanci.
patton, and wait till the classes, who are
expected to become Independent all at
once, have time to realize the responsibilities
oftheir new position.
Richmond Republic.
The Cotton Trade and Cotton Supply.
The following extracts from the Annual
Circular of Maurice Williams, Liverpool, on
the Cotton Trade of 1865 and prospective
supplies, will be found interesting at the
present time
This year has again been a most eventful
one, more especially as 10 it has been wit
messed a most serious decline and panic, and
most important reaction to comparatively
high scale of prices. The losses that were
incurred by the panic in the early months
Of the year-when it became self.evident to
all that the South was exhausted and must
soon yield.-were very serious indeed to all
concerned, and were much intensified by
the enormous transactions to arrive, which
for months previously had been entered in.
to; so that the actual loss incurred was
not only upon the amount of the Csc, ,030
bales stock held in Great Britain at the com.
meucement Of the year, but also to a very
great extent upon the imports of the first
three months Of the year, amounting to a.
bout 100000 bales.
The import this year into Great Britain
from all quarters of the world has been g..
755, ,321 bales, weighing 965, 727, ,070 tbs;
against 9O1 1850, 900 Tbs, 10 1864, 6S2 ,816,.
600 Tbs iu 1868, 1901, 500 Tbs 1862, l.
260, 1926, 900 tbs in 1861.
This year the exports from Great Britain
have been 800, $3.50 bales, being the largest
of any previous year ....
Consumption of Cotton 10 Great Britain
2,034, ,730 bales. Consumption of all Eu-
rope, total average, 1929, ia bales.
The stock of Cotton actually on hand in
Liverpool, as officially made up Dec. 80,
was 37O,275 bales. Total stock of Cotton in
Great Britain, 405, ,4s7 bales. Total stock
of Cotton 10 Europe, SGT, ,2S7 bales.
At this period last year-with a stock of
Cotton in Europe, l9O,743 bales greater
than that now existing, with favorable an.
ticipations of large supply from all sources,
with the possibility of the American war
ending and contributing its vast accumula-
tious-prices Of cotton ruled Bid p fb high.
er in Egyptian, SID in American, 43d in
Brazil, and % higher in Surats than the
quotations now current; and yet how few
of these expectations have been realized
only an additional import of 10000 A.
merican, this year (the latter owing to the
ending of the American war;, whilst from
India and China the import has fallen off
390, ,470 bales. o.. ...
The increase in the supply, however, to
Great Britain, has been more than counter
balanced by an increased consumption in
Europe of 76S, 1886 bales this year-the to.
tai amount being 1926, ,730, or 63,456
bales per week, against 2,530;894, or 49,.
go per week iu 1864 Thus, all the anti.
oipatious of a very large supply by the end
ing of the American war have proved total.
ly faHacious, and even the most sanguine
Of expectants from that quarter have had
by experience to reduce their estimates
from 5000, 900 to $500, 900 bales of accu.
mulased stocks down to 100000 bales,
and which, if my iuformations is correct,
and in which l have every confidence, they
will soon have to reduce their estimate still
lower, for very reliable correspondence from
many quarters all indicate an important
falling off in January, and which may tend
to modify the somewhat exaggerated no
tions of some parties as to the possible sup
ply from America the coming year. Should
this take place there can be no question
that it will exercise o most material inhu.
ence upon the course of our Cotton mar
ket; for even with supply calculated up
on the basis of 100000 bales American,
accumulated at the close of the war, includ.
ing the new crop, the present stocks of
Great Britain and estimated supply, even
if exhausted, would only be equal to about
A weeks of the consumption Of and export
from Great Britain during the past eight
months-that is to say, from the LIST of May,
when the panic had suosided, up to the
S0th December. Taking it at the average
consumption and export of all the year, in
cluding the first four months of short con.
sumption in. Europe, owing to the panic, it
will yield only one years supply, and leave
stocks in spinners' hands and in the ports
of Great Britain entire exhausted, which of
course would be impossible:
As regards the production of Cotton in
America in 1866, great diversity of opinion
still exists, those most capable of knowing
best the Southern planters, say they express
a most decided and universal opinion that
under no circumstances can a crop exceed.
ing one million bales be raised 10 1866
We know that this year the crop raised has
only been 400, 900 bales, and that not only
has the number of the black population
been seriously diminished since the com.
mencement of the war, but that the expe-
rieuce of those who have recently travelled
through the Cotton States is that great
disinclination exists amongst the freedmen
to work for their late owners, and still
greater objection to work at Cotton raising