Daily union and American. [volume] (Nashville, Tenn.) 1865-1866, 1866-01-09
COTTON--sTRALING AND PRODUC-
TON.

1t is held by the leading financiers of the
country, that the extrication Of the United
States from its great Indebtedness, is to be
, looked to, in a material degree, from the
production of cotton. If in truth, cotton is,
or was not king, it held and holds such rank
in our own country and abroad, that four to
six millions of bales, averaging four hun
bred and fifty pounds to the bale, at the
current market price Of forty-five to fifty
cents per pound, is an item of wealth not to
be overlooked, to say the very least, in our
commercial and financial calculations. The
stock on hand at the present time, is vari-
ously estimated at from eight hundred
thousand bales to one million and half At
the termination of the war the stock on
hand constituted the only clear and absolute
capital of the Southern people, and the
events of the war threw the greater part
of it into the hands of the Confede-
rate authorities and the Southern spec
ulators. There was on the first day
of May, 1865, in the hands, or under the
control Of the Confederate authorities,
enough to have paid large proportion of
the Confederate debt This rich fund has
been dissipated by the agents of the govern
ment and by the cotton thieves of all sorts,
since the surrender. OF course, all the pro-
perry which legitimately belonged to the
Confederate States, at the termination of the
war, belonged to the United States through
the right of conquest, or capture. II was
the duty Of the United States at the time,
and is now, to assert its claim to all such
property. While there is great deal of it,
or its proceeds, in the hands ofthose who did
nothing either for the United, or the Con-
federate States during the war, the agents of
the United States, sent iato the South to col
lect it, have obtained and appropriated the
lions share And the first thought that
strikes an honest mind in considering the
cotton question: is that this stolen and
frauduiently obtained stock, should be ac-
counted for. or the misappropriators of it
held to stric accountability and punish
ment. We trust the Government will leave
no stone unturned to accomplish this object
Our future supplies are not less imporr
iant. A great many Northern capitalists
have advanced means to "re-habilitate "
southern cotton plantations but not 1.-THE
of the cotton lands of the South are, al this
day, in condition to produce the cotton
crop Of 1860. We are Therefore, surprised
10 see the action of the New York Chamber
Of Commerce, upon proposition to cal 10
gether a national convention TO devise meas
ures to increase the production of cotton in
the United States, alleging Is a reason for
non-os-operation in such q measure, that
the PromTsings Of personal interest wiz ,
secure the desired result" and that "this
motive is already attracting the capital
requisite 10 produee large crop Ct cotton
for the ensuing yaar" PROFESSIONALLY those !
who intend to make cotton the sole crop for |
the present year, are bending every energy
TO is successful production. A majority of
them are preparing TO cultivate the staple, |
relying upon other people 60 supply the stock !
and sastenance required. But this does not |
include half the cotton-producing lands hiih- |
erto devoted TO the business. And Is viii |
be seen that the cotton planters of next year,
viii endeavor to make the farm support |
itself by reducing the area of cotton culture
and increasing the production Of corn and
other articles necessary 70 keep up the farm.
Whether such convention would be able
to advance materially the object desired ad-
mits ofdoubt; but that the New York Cham
Der Of Commerce should decline to coop