Daily union and American. [volume] (Nashville, Tenn.) 1865-1866, 1866-11-07

Leaving a stock for Great Britain
and the continent Of. viz:


a llANlAtAllAAAN IAN nANAail NAlANAA al ~ IiN-
scribe, or prescribing without being called
ia, for the manufactures who are now COM
planning of unremunerative weaving, would
obviously make use Of the "short time"
recipe But if the American supply be only
1000 600, events will force short time upon
the manufacturer without waiting for its
prescription, for il is clear from the above
figures that we are working up our cotton
supply on far too liberal 4 scale, instead Of
nursing it carefully until we see clearly
before us the certainty Of AN adequate
supply. II, peradventnre, a killing frost
should come early or the labor question
provokes new difficulties, or the Presidents
attitude towards Congress induce political
complications adverse TO a regular cotton
trade-as it would be- of course, to all other
tmdes-and the yield of the season Of
lS66l67 for the United States should fail
below 1000 bales, can il be doubted that we
should again have inflated cotton prices2
Yet will any one pretend TO say that such
contingencies are beyond the range Of pro-
liability, or that with such contingencies ON
the card, the future supply of cotton can be
called unusually promising?
II our supply of the raw material were
well sustained during the next siNty-four
weeks, in all probability the world would
take of the 6,O00,000 bales during that pc
riod in yarns and goods at about the same
proportion of price values "a those which
have ruled during the last four months; be-
cause. our average production Of piece goods
have been during this wear much above the
average of the last four years, still .he over
sea markets, and even the home markets, are
not over supplied with goods. Moreover
the experience of the last six months has
been an exceptional one as regards consump-
ton, which has had to encounter various ad-
verse influences in the shape of plague, pes
thence. famine, and battle variously repre-
scented by cholera, rinderpost, scarcity Of
food in India, and the rectitcation of the
Prussian frontiers. | had almost omitted
the greatest pestilence Of all-viz.: the ten
per cent. minimum rate Of discount at the
Bank of England, which can in no sense be
said 10 have stimulated the production of
piece goods Ii indeed very remarkable,
remembering all these untoward influences,
that so much cotton should have been con
sumed during their continuance. If our
preseut rate of consumption continues some
months longer, believe that cotton will
not only get no lower, but that 1t will, on
the contrary, very considerably augment an
value.
Are our prospects luI NuA"i supply N'ti'i'
the next halfyoar particularly promising
Dnrinr the last few months the trade has
taken of East India cotton about 10000
bales weekly, and the exports from Liver
,,ool and ,ondon have been $4,000 bales, oi
S5 GOO bales altogether. Our present sup
lilies Of Surai are
$4,000 bales Liverpool stock
g-.On London
a36O0O at sea,
i0oOn shipments teleeraphcd.
5OOOO overland for i've months,
s0Ol0 October shipment %
which al $1,000 bales per week, would b'
o,r supplv 20 the first week in March, ana
leaves us no stock. Yet il spinners are {,
bsyea fair assortment Of cotton from which
IA select what they want a stock Of Benga
and Surat in London and Liverpool togethc
sbould not be much under 100000. Wha
nrobabiliiv there is Of the existence Of sucl
= stock next spring | have Cndeavored &
noint out The matter is worth little dis
r,ssion. Cor il the stock of Surais seriousl
5eclipes. spinncrs must 60 on 20 the longe
staples and pay dearer rates. Gentieme
sbarinr my views will therefore considc
1Od per M. for Dhollerah as very mOdeI
ate price, and will admit that At all events
cotton shipped ia Bombay at about tbs
6rure. 10 arrive about February next ougl
not 10 cause any anxiety in the minds OF II
importers. r.,
MANCHESTER, October, 1866.