The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-09-21
SOUTHERN TRADE.

Great Influx of southern Merchants-iIeayy
Business Observation-Disclosures OF the
Forthcoming Cotton Crop-Anxiety of New
York ACKNOWLEDGEMENTS CurtaiIfnent OF
Credits-P.-nfcrs in Town Soliciting Capi-
tai, &c.
New York Is now in the height OF the fall business
with the Southern states. Several thousand merchants
from the larger cities and the cross road towns OF the
South here, and hotels crowded 10 overflow.
ing with them They may be found hard at work all
day selecting their stocks in the large Wholesale esiab-
lshmen,s, snd in the evening Cling the various places
OF amusement. There at least twice many NOR
charts from the South hero there last
son AZ this time Tho sight OF many homespun suits
and ouch hats Broadway reminds the praclisel New
York eye Il the prosperous a.s tsilrm era.
LIKES or sTrIsuns
and sailing packets running South arc crowded with
goods Tie Savannah steamers are especially vel
raronizcd They arc generally filed up with freight
within twenty -four hours after they commence loading
and The agents continually putting extra boats
to roe, the rush The Charleston, Mobile, Wilmington,
New Orleans and Galveston lines also end ihcmselyes
rnn down with busirea
sEce the resumption Of peaceful intercourse with the
South merchants from that section have found little
difficulty IN procuring time on their payments. indi
vduas coming here lest wear, exhibiting fair record
for integrity aud business capacity, and Offering pay
\
met in the most liberal spirit by New York merchants
ard given credit oil the goods they required
Win few exceptions they have mes Their payments
promptly. Tho usual time given has hssn about four
months This fall, however, and within The past ten
days circumstances have arisen which have occasIoned
great anxiety TO our large msrchan,r, and,which may
have tho effect OF seriously curtailing credits The
ability or the Southern merchant 70 meet bis notes four
months herce depends greatly upon The condition OF
THE fycosrSG COTTON cnor.
II the crop Is bad ails entirely he win fail 70 sell
his goods make bis collections IN time 20 meet his
NaNv Vrtt Eah fwf9 ate fha IN mt
very rromialng Three months ago the general estimate
was three millions Of bales since tho planting, however,
retard or injure the crop Fin,, there were heavy
rains, and then followed . most unprecedented
srSgsh rns ,1%s sss enc s%,
in every part Of the South do not nov estimate
crop Of over 900 bales while the average opinion
unfavorsbls from all parts except Western Texas. Our
merchants naturally anxious about this condition OF
1S Are sona isHu; upon s c
crop, all credits would end Immediately TOT this year
Indeed the cotton supply 10 for tho moment the great
question among our busincss men Its influence V felt
In every branch OF business II has i;s rarGca-
tons in every direction Affecting alike the ship builders
lords in Nsssachusei,s and The coal and iron miners In
Pennsylvania. II ID depended upon 70 drive our facto-
res freight our vessels and eausiize our sIshanses
depends tho price Of the mort common fabric We
Then again we importing heavily from Europe, and
able 10 send more Than half million bales Of cotton 10
Europe this year over and above our own consumption
The balance Of our indebtedness must De PAID ~ United
siasos Interest In gold bearing securities; and y Is
serious question with some Of our economsts g this
drain Of gold from the country TO pay interest abroad
viii not DO the rock upon which our finances wiz uls.
rnatsiy spliA
soxr RAD nAvxoxnHxr
The elemsnls arc moi altogether 70 blame fos snos
cotton crop this year Much Of the disaster owing 70
the had management Of inexperienced planters who
haze undsr,akeu the raising o. hs ape d many para
cf the country Considerable Nortben caplinl and
many Ncrthcp men havs gone South s1oe th2 war and
engaged IN cotton culture Tie Ike Ne soeshem rlen-
sid Sdf sxpsrsnssd buis and hSatA Norshsrh cessSe