The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-08-27

just as good friends of the policy of recon |
struotion, as General Sheridan. We do not |
care to go over the reasons of the President |
but they will commend themselves to almost |
everybody, except the impeachers and |
screechers against the Executive. The great |
fault with President Johnson is, that he acts |
too late. His long deliberation has been that |
of man who, after knowing what is right, |
hesitates for long time in the performance |
of his duty. The old practice of Crockett was
the true one:-
~ leave this rule for others when I'm dead,
be sure you're right, then go ahead"
American COtton-Ths Crop and the
Prospect.
From 1te ~ y. Times
We have examined very carefully the crop
prospects of the Southern States, as presented
by the local journals, and compiled by those
of the cotton ports of that section. AS re-
suit, we are satisfied that the cotton crop
planted does not promise an increase over that
of last year, even without the usual accidents
of flood, worm, and frost. The principal
reason for this opinion is found in the deterio-
ration of the open land and the fact that there
is no fresh land being added to the arabic area.
Then there is a withdrawal oflabor for several
reasons. There are comparatively few females
or children employed in the field, and the
freedmen prefer such emplOyments as are
consummated in less time and with more GER
tainty than a cotton crop. Our information
leads us to doubt whether the injury by
cotton-worm is so great as some alarmists
suppose.
The season has been so wet as to postpone
the crop of worms (the first instalment has
not seriously diminished the CROP, and it will
be too far matured for the next generation of
fO mi oil
planters say that the worm, by eating away
the foliage admits the sun to the later bolls,
and so stimulates the maturity of portion of
the crop which is ordinarily liable to frost.
Our conclusion, therefore, is, that the present
crop will not materially differ in weight from
that grown last year. 1t must be remembered,
moreover, that there is very little of the old
crops ON hand, so that our expOrtable stock
will neither in weight nor value equal that of
last year.
An enumeration of the causes of diminished
crop would be incomplete without reference
to the withdrawal of Northern capital and en-
\ terprise largely invested last year in cotton
culture. There can be no doubt that this
adventure has been too generally attended
| with disappointment, to attract or retain in
| terest when so many opportunities for invest
ment are occurring elsewhere.
| The influence of American cotton upon the
market prices of the world has greatly
| diminished. In former times any one of the
accidents which has befallen the crop of this
| year would have affected the prices materially
| in the markets of Europe. These calamities
combined have, however, failed to disturb
| the equanimity of the cotton spinners. They
| have been trained by the late war to provide
| against a crop failure, and an immense i'm
| pulse has been given to Indian production by
the English railroads which now connect
Madras, Bombay, Delhi, Calcutta, and Nag
{I1, 10, H., H. IL
of British India from the mouth of the Ganges
to the Ghauts We may note that the East
Indies have now more miles of road in opera
ton than Spain, Italy, Austria or Russia, and
nearly half as many as France. Tne liberal
aid given by the British Government, which
guarantees five per cent. on all approved sub
scriptions, will insure the extension of this
system, already so profitable as to have in
volved little or no liability to the Government.
The effect of such an inducement to extended
cotton culture has been enormous. The cot
ton commerce of Bombay alone has within a
few years increased from six to one hundred
millions of dollars. The supply of cotton de-
rived by England from the United States was
in 1861 seven out of eleven thousand millions
of cwts., or seven-elevenths. Last year the
whole supply being i, 400 600 cwts., the United
States has furnished 4, 600, 900 cwts., or four
elevenths nearly. This is a singular reversal
of the proportion in which the United States
and countries other than the United States
have contributed to the cotton supply of Eng
land. 1t is sufficient to show the comparative
Indifference with which England now regards
the worm ravages, or short crop of the United
States AS the late war probably contributed
to plant the cotton culture in India, every
short crop in the United States tends to estab
lish it more firmly. 1t will thus console the
English spinner for any temporary advance in
the price of cotton. Is it not, indeed, impos
sible that, when the home product of England
shall be adequate to her supply, she may even
impose conditions upon the import of Ameri
can cotton The reversed relations between
the American planter and the English spinner
show at least that the English dependence
may very soon terminate, and that cotton may
be produced cheaper and more abundantly in
India than here. Such reflections tend to show
the importance of restored friendship between
the capital of one section and the labor of an
other. If the cotton manufacturers of America
expect to compete for the market of the world
they must have cheap cotton. Interior Texas
must be opened up by rail as into the Dude
and Punjaub. Our Government, instead o.
selling out the Southern railways as penalty
for public offenses, should reinstate and aid
them as a means of maintaining American cot
ton supremacy. There should be a convention
of cotton spinners and cotton planters to confer
upon the extraordinary causes which have
prostrated each from position Of prosperity
and to devise means by which the cotton con
test with England may be waged in the mu
tual interest of each.
1