Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1867-12-07
Tho Cotton Trade.

{Stlf Z. 'SSgY
Il. The Cotton Trade.
The United States "Economist" saws "Tt
4 Ia not to be concealed that those best acuuaint-
ed with the cotton trade Of the United States
Z are becoming dubious as to whether our plan
ters can hold tho ground in competing with
the growers of other countries. When plan
}ters could grow cotton at six cents per pound,
twas generally conceded that we had vir
tual monopoly Of the cotton trade. We then
supplied England wish thrce-fourths of her
importations Of cotton, and there was no ten
dcncy Oh the part of other countries to dispute
our ascendancy. Our cotton was much bet
ter staple than that of India and was market.
cd in much better condition, and the castorn
product was used only for the very commoncst
purposes, But now all is changed The cx-
treme scarcity of American cotton has ncccs
STATED the lancashire spinncrs and manu-
facturers to adapt their machinery to the In
dia staple, so that it is now found to be avail
able for many purposes to which formerly it
had never been applied. The advanced price
has, caused greater attention to be paid to the
culture and packing of the eastern staple;
while the handsome profits realized by grow
crs and factors have induced much larger
area to be planted, and have in every way con
solidnted and strengthened the cotton trade
of India. At the same time, the opening of
railroad communication with the cotton region
has placed the planting districts in more di-
rect communication with the capital and en-
terprlse OF the cotton ports. India is thus
not only i'll position to grow cottonas cheap
ly as ever, but has the motive and means for
increasing her crops indefinitely There is
naturally hestating about largely augment
ing the crop in that country until it is rs Ger
tained what is likely to be the supply from the
United States.
In the event of an average crop being rails
cd here the price of the staple would be reduced
to figure which would involve heavy losses
+ to tho growers and tho merchants in InL4a
and this must be regarded as the reason why
the cotton crop of tho last two years has not
been increased to the extent which might
have been expected from the high profits real
lied upon its culture Should it appear to
tho cotton traders of India that the American
crop is likely to bo permanently reduced, there
would undoubtedly be prompt increase in
the India supply; but until the probabilities
upon that question arc more definitely devcl-
opeed, the India supply is likely to be rcgula-
ted with caution.
TIE COLUMBIA AND AUGUSTA RAIL
RoAD.--in his recent annual report to the
stockholders, tho President of this road gives
q favorable account of its progress towards
completion. The grading and bridges will be
finished for forty miles west from Columbia,
by the first of next January. Nino miles arc
graded from Graniteville, East. Rails sufIi.
cient for thirty.fvc miles arc on hand or in
charleston, tho balance necessary is engaged,
Il to be imported directly from England 90
!, Charleston. Tho directors hope to have scv.
III enty miles of the road in operation by next
July They have had many obstacles to en-
3 counter, in their enterprise, the chief of
which are the opposition of the South
Carolina Railroad and the Unfortunate
political condition of the country, Which has
3 greatly depressed the credit of Southern
stocks. But they have overcome these obst..
ss cles with 30 much success as to render tho
completion Of their road a moral certainty
VA IA RICHMOND, November 81 -Ex-Secrctary
@Seddon vas before the grand jury all this
& morning, and this afternoon General Lee was
b befoye it and questioned about two hours
The jury has found new Indictment. It is
about ak times as long as the old one but only
~ presents the same facts more in detail On
y the t22d Of March, Davis will be taken in Gus
i tody by, tho marshal, OH this Indictment. Lee
4 and Seddon were recognized to appear as wit
snesses. Davis movements are as yet unccr-
tain.
4 @it'IIhc Neso Nation says the first act Of tho
Demonstration Convention, which m cots
Tuesday, should be to yacate all State Offices
held by rebels and put loyal men in.
;3s 3S SALE, OF CONFEDERATE PRopERry The
]. property soon to be sold in different Southern
tsoities BY Gen. A.. p. Howe, of tho Frccd.
& men Bureau, consists of storehouscs, build
3sings. lands and dAnaterial formerly belonging
tosthes Confederate States, and confiscated at
/ IS tho close of.War The only property of this
deseriptio ion in South Carolipa is at Hamburg,
3 md 5is nothing more than some old distieries
q and othershdildipgs At Augusta, however. !.
g thsssae evil DO an important one, as General
HIVE will dispose. Of the 81 Augusta powder
mills These nils we're built frthe Confed.
# i sTats Gs rnmen ent, under tho direction Of Iiu
{ fopeads ol,aaica, and were fitted with Che
q newest soin plote h,ac chinery! Altogethcr, they
derSd o. sbo The finest powder mills
ssSa the d States: ,y will be sold to
Etse CHEST Sd lSSicSs Ss,;ansaf.
- ssssg TL(Jy0r/csfoD Nrms