The Fairfield herald. [volume] (Winnsboro, S.C.) 1849-1876, 1867-10-23
The Cotton Situation,

The present wrctchcd weather and
the low pricc Of cotton has cast deep
gloom over our city and its trade, caus-
ing general dizziness and inactivity in
commercial circles Many of our best
informed and experienced citizens had
anticipated slight check perhaps a
slight falling oflm price, but The recent
heavy and continued decline in cotton is
rs unexpected rs it is most clearly with.
out just cause or sound reason. We ex-
pcc,ed light temporary decline when
the glowing accounts Of the crop pros
poets, which were so indusriouslY cir
cnlated here in August, reached Liver.
pool and Manchester. We were well
convinced at thai time that our planting
friends were ovcr-astimaling The pro.
duet Of the crop, and giving too much
prominence to the, at best. but fair pros.
poets which the month Of August seem
ed to indicate. These accounts, highly
colorcd as they were, have been very
greatly exaggerated in the interest Of
spinncrs and spectators, and, combined
with other causes have produced such a
decline in prices rs to leave the price
to-day mrcmunerativc to the planter.
Indeed, we do not believe that, under
the present system, the ruling rates
Of cotton today are sufficient to pay the
cost Of production. Tho expense in the
way of taxes, frcights, commissions,
insurance, storage, &C., will amount to
| al least 4 or Is cents per pound. This
taken from the present price, say II
cents for midd!ings, would leave but 3
or ] 3 cents net per pound. In gold this
would be but about tho old pr,co before
the war--say 10 cents per pound. The
present crop has been raised at rate Of
expense much higher than any cvcr
heretofore made truthfnlly remarks the
Augusta Chronicle. Provisions have
been from GO to 100 per cent. higher
than formerly. Large sums have been
expended for Guanos and other fertili-
zers, while tho cost of labor has been
worry great, amounting IN some instances,
to onehalf the crop. Ten cents in gold
will not more than pay the costs Of pro
ductio2, unless a very large crop is
realized. We have ceased to hope for
even q moderately fair crop. The con-
tinucd rains of August and September,
have caused the late fruit to shed, and
thousands Of acres have been destroyed
by rust, boll-worm, rot, and the caterpil.
lar. We doubt very seriously wheth-
er tho crop will be much larger, If any,
than that OF 1866. In fact, so great has
been the destruction ofcoLton from DIFF
ferent causes during the last two weeks,
that we do not believe the crop will be
as large as that OF last year. The wca.
ther during the past week has been very
nnfavorable to cotton picking, while the
continued rains and general dampness
Twill materially injnre tho staple. All
accoupts from this section of Alabama,
and indeed all over the State, arc not
only unfavorable, but actually disastrous
to the cotton prospects. Where it is
possible, we believe it TO tho interest of
the planter to hold his cotton. If he
sells now he cannot get the actual cost
Of production, while it is almost certain
that when the great cotton ports are
reliably informcdas to the present and
prospective condition OF the cotton crop,
tho prce will assnrcdly advance.
MONTGOMERY (dhs) laib Oct. 6
sl@ss tY - - 1A---l-. o.. g. = -
! FivE IlUNnRrp DoLLhRs REWARD.
lAreward Of 1910 is offered in tile CO.
Ilmnbia papers for the arrestof the
.Epartics who rtmovod tic rail on the
South Carolina Railroad, near Hop
kins' Turn Out which caused tho acci.
i 1n.,t az, Gnnlnt. ..>ena;,... LII