Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1867-03-18


C0ftoa- a-Presem1 aud PrOspective
The course of the cotton market for
several mouths past has disappointed the
Expectations of sagacious observers. Last
hitnmD,. when the crop prospects IN our
Southern States were most discOuraging,
prices appreciated some 10 cents in a few
weeks, middling cotton touching 44c 10
October, Subse equentiy, however, the re-
eepts at the ports having been considerably
ii excess OF the popular estimates, the
market has gradually yielded, the current
tIuOtatiOns standing 30@311ac. The dull
copdftion of the goods market has con-
tFibuted in no small degree to this result.
The production of goods has been compar-
ayely small ana ne supply q 1; Fhs raw y
be light, the doubts and uncertainties
tonehfng the future of trade necessitating
The utmost caution in laying in stocks. The
aIiahtity IN this market is believed to be
hot far from 100000 bales; and although
current prices IN Liverpool afford little or
no margin on exports, considerable guam
titiss aFs neyertheless going forward from ON
yS1h thss other side 61 the Atlantic, but
more especially in Engl land, the course of
Dtfees has been equally disappointing.
A1th6ugh the quantity of cotton afiOat from
India, at last accounts. was only about
$4,000 bales, agaiBst some 435, 900 bales at
though the growth in Egypt has proved TO
be,defeient, English manufacturers operate
cautiously, and quotations have for some
time past been with difficulty supported.
Even. the great abundance of money. and
extreme low rates for accommoda lion, have
tailed to exert favorable influence upon
the demand for an article indiSpenSably
necessary to carry on the enormous trade
Of Great Britain. The stock of cotton in
warehouse in the United Kingdom is stated
70 be but little over 100000 bales, or about
10000 bales more than was held aG the
same period In 1866: This excess Is very
moderate when the usual wants of Eng
MEh spinnefs are duly considered; but from
the caution they observe in making pur.
G5Sses, it is amply sufficient for present
baFp0ses. English impOrsations from all
sources this year have fallen short OF last
gear By something less than 100000 bales;
but, on the other hand, the quantity taken
for export, consumption and on specula-
ton, has materially declined. From Liver.
pool alo6e $4,000 bales less have been taken
for shipment than in the corresponding
Befiod 0t 1865. The presumption, there
fore. is that the production of goods on the
Continent is small, and this belief is
ssfengebened by the fact that direct i'm
ports into Francei and other CONTINENTAL
Countries from the places of growth have
been on q very moderate SCALE; The de-,
cline in quotations of cotton and cotton
goods 10 England during the past twelve
months, is shown by the annexed figures.
which are taken from the London Shsppfng
ss-sfiSi SYss3 rgiksa REes3 sis9eaG isee Isez
eStto6. u1lsnd bowed. fair. per ib... .2OK Is
Cettpna PerBsmbueos iar. .......--. 2oH "a. l5h
Cotton PsEn.%SSs0; gG0d 81 is.
No. 80, water twist (dO.). ...-.: IS IS
TpoasT-loon cloths. az reeds. 29 yards
o;h. es -sed. ss Ou w
20 50 ySis. . - sg.s. - ais Cd l5s Sd
lasinsh povsr-Ioon cloths. a reeds. IS =,
TO 81 Yards .Zos 90 Ats ou
This comparison shows that much less
capital is now required by the Manufacture
.eRsaud buyers of goods, and that there are
very. few dealers disposed to purchase
largely, notwithstanding the moderate
growth in the United States. "JudRing
nom the limited shipments since the COM
mencement,of the year. s2tsaysI the Gazette;
.ssEe conclude that the quantities. of goods
held on the Continent and in the East are
much reduced. We, therefore, anticipate a
steady, though by no means active, demand
for most kinds of cotton throughout the
wear. But so satisfied are we that we shall
Import over 100000 bales from the United
States, that we are not. disposed to think
that cotton win become higher in price
tffaIf at present. It adds: sWe believe
that the extent of the future supply of
cotton from the East has been greatly un-
der-estimated. IC Is quite true that the
quantities on passage are very small; but,
"a we hear very few complaints of di-
minished growth in India, and as we find
the. exports from Bombay are now equal
TO 20. 600 bales per week, there are no solid
grounds for Believing that our importa-
tiunsthisyear will fall short of lastsseason.
Our arrivals from Egypt will be very mod
crate since Ii is now ascertained that the
croD is considerably under all estimates
made Drier to the commencement of pick
iutz.S With this exception, our aggregate
importations are likely TO beequal TO 1885, =
1f the saDguine expectations indulged
nv aotIF London cotemporary as regards
simply be realized, it is hardly probable
fhat prices will rule as high as many on
this side of the Atlantic have been led to
beIIeVe. Much. however, viii depend upon
the extent of our crop. Popular opinion
stiII,idclines toward the estimate Of l,750,-
600 bales but should the yield reach q
O00Ooo bales. twill be apt to make little
elifference. so far as prices are concerned,
10TzIl that we can spare will, no doubt, be
,,ooded An Enola1Id g 81 ss9 80 - IS
Tn vieVV of tIlg success which has crown
ed the long and Dersistept efforts of Great
Rfffafii f0 stimulate the growth Of cotton
IN her Colonial possessions and other coun-
tries. it Is 10 be regretted that Congress
does not see the necessity Of abrogating the
cotton tax. We no longer enjoy mOnop-
DIV 0f fbe trade and our commerce must
sriffer. unless we can again supply the mar
kefk i5f the world with the staple at lower
njfFas than other countries. To 90 this,
we mrst. as far as it is consistent with rev