The day book. [volume] (Norfolk, Va.) 1857-1867, 1866-10-12
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Small Crops and Large Crops.

1t has been held by those who have had
experience, and devoted attention to the cot
ton crops, that small crop yielded as much
money as a large crop. This was the theory
of the Columbus ENQUIRER as far back as last
December, when it advised the planters to
put in small crop and raise every thing ne
cessary for the plantation at home In re-
cent article headed predictions fulfilled" the
Enquirer refers to its prediction of December
last, and adduoes facts and figures to prove the
soundness of its views, which may not be I'M
interesting to our readers. In December it
said
e A cotton crop of two millions Of bales Of
cotton in the United States would, in view
of present circumstances, bring almost az
much in the markets of the world as four
millions of bales. There is no proposition
susceptible of clearer demonstration than
that it is only the scarcity of cotton that
keeps up its present price, and that the price
will decline as the production increases. 1t
behooves the people of the South, then, not
to kill the goose that lays the golden egg
This they will do by overstocking the cotton
markets, and having to pay out what little
themselves and their laborers and stock
The proposition to tax cotton so heavily
should be another argument to our planters
against large crop. The smaller the gener-
al crop, the higher will be theprice per pound
realized for it, and the better can the produ-
Ger pay the tax. crop of 100000 bales,
at 70 cents per pound, would sell for $312,-
100000 and with tax upon it of ten cents
per pound, the government duty would be
forty per cent A crop of 1900, 900 bales,
at Is cts. per pound, would sell forony $780,
100000 and the government tax at eight
cents per pound the Secretary of the Treas
ury recommends only eight if the crop should
reach 1000 900 hales) would be over fifty per
cent. of the amount"
Notwithstanding these predictions the
planters did undertake, as we are told, to
raise large crops, but owing to a combination
Of circumstances familiar to our readers, the
general crop has been cut down to one OF the
very smallest made within the last thirty
years, and the comparison between short
crop and high prices and the former large
crops and low prices is thus constituted
The estimates of the incoming crop now
vary from one to two millions of bales.-
Whichever of these extremes may be nearest
correct, it is certain that the prices now paid
are based upon some general impression that
the crop will fail between them. We will
take the mean 100000 bales; and take
the present New Orleans price for Middling
cotton as the average for which the whole
crop will be soid-say 39c. per pound. Thus:
A bale of 500 pounds at SOC. per pound,
$195; 100000 bales at 1895 per bale,
$292, 100000. Reduce this price in eurrcn-
cy to the gold standard (gold at 1907 and
We have 1916, 100000 as the value Of the
crop in gold.
Blu THE small crop of 1866 is really selling
for three cents per pound more than the
above quotation, because the buyer pays the
fax to the Government. 5000 900 bales at
three cents per pound would be SIS per bale
spa 100000 This increases the value OF
the present crop to $209, 425, 900 in gold
We turn now to the big crop year, 1869,
and SET how much more money its 4,675,770
brought to the planters. We tiud the prices
of Middling cotton in New Orleans through
the years 1s59-'60 ranging from 103 to ll4c;