The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1867-01-10
I'HR.NS-IN .ADr-1 NOE
False Cotton Estimates.


The New Orleans Times has the
following remarks relative to the
false estimates of the cotton crop
which have been published in North
ern papers by interested parties We
are Of opinion, as we have always
been, that cotton will maintain its
present prices, and will, in all proba-
bility, advance:
The false statements put forth
early In the season by interested New
York spectators and Freedmen's
Bureau agents have had a disastrous
effect on all the cotton producing
portions of the country. These esti-
mates were, i'll some instances, made
by crazy enthusiasts, who supposed
that negroes, as freedmen, would
prove far more industrious and re-
liable laborers than they did while in
q state Of Involuntary servitude, but
for the most part t,,, were furnished
with intent aforethought to deceive,
and that intent has, unfortunately.
been carried out with decided success.
England, the great cotton consumer,
believed till recently that the cotton
crop of America would exceed $780,
OoO bales, and rested secure under
the conviction that she could make
her purchases to the best advantage
late III the season. when the great
bulk OF the crop had been gathered
and sent to market. But the inte-
rested Northern spectators knew
better than this, and after they had
succeeded in depreciating the price
Of our great staple to the lowest pos
sible figure, they sent their drum
mers through the cotton States, and,
taking advantage Of the necessities Of
planters, made small advances on the
growing crops, and purchased the
product of whole sections of country,
at figures which left them wide
margin for profit.
The English operators are now
aware that they have been egregiously
deceived in this matter, and are anx-
ious to purchase, but the bulls and
bears of the Northern gold market
have played into each others hands,
to the disadvantage of their British
cousins, and have SO pulled down the
price Of gold and the rates of ex-
change, that John Bull has now to
pay an average Of from three to four
cents more per pound for cotton than
it costs Jonathan, who pays in green
backs. This practical difference in
price has operated sadly against
Southern interests. The price of cot
ton is less in greenbacks than it
should be in gold, considering the
shortness Of the crop, and the differ
ence between what the American
manufacturers have paid and what
English manufacturers will have to
pay before the close Of the approach
ing January, becomes clear profit and
protection to the former
We trust that, before another bust
ness season commences, q better un-
derstanding will exist between those
who are chiefly interested in South
ern commerce and Southern agricul-
tnre. BY assisting each other, our
people can, every year, render them
selves more Independent; but if petty
Jealousies are to be indulged in by
rival cities anl rival railroads, in the
South. the day Of our deliverance
from the hcar5leas despotism Of com
merclal task masters becomes thereby
postponed. When the Southrons
bent their energies to affairs of states
manshlp, they were the rulers in Con
gresS; let them now bend their ener-
gies to the development of their
material interests, and they will be
come rulers in commerce. They have
control of the earth's most valued
staples-advantages Of soil, climate
and posltion-and ali that is neces.
sary to insure success is, combined
honest, earnest effort.