Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1867-06-13
THE COTTON TRADE.

As large portion of our readers arc more or
less directly or indirectly interested in the move
mcnts and in the fluctuations Of the price OF cot
ton, VIC publish the following article from the New
York Mercantile JourAdt:
That never failing source Of anxiety, the condl-
ton of the cotton MARKET has again assumed such
an ASPECT as to awaken much remark in business
circles here and abroad.
Last autumn the prospect ofcontinued peace in
Europe, and the reconciliation Of all jarring ele.
ements i'll both North and South America, led
every one to believe that the expected crop of A
mcrcan cotton would not be sufficient to meet the
demand But the revival of general war excite.
mcnt beyond the Atlantic filling every avenue OF
trade with alarm, and the comparative stagnation
of commercial currents here have produced results
very different from what the most skiltul and eX-
perienced dealer in the great staple would have
predicted four months ago. All the usual tests Of
business seem to have failed upon this occasion,
and things arc in so abnormal state, that it Is
difficult to reach any definite conclusion.
At home, the usual movement has been greatly
impeded by causes which have been repeatedly
set forth and are now familiar to the mcrest child
Great Britain, our chief customer, has been ham
pered by the effect of last year crisis which con-
tinues to be very severely felt, and while on one
hand the demand Tor manufactured goods has dl'
minshcd, on the other, owing to less production,
the raw material has not been so much required.
Still, expectation to the British ports is sufficient
ly maintained to indicate that they will absorb a
larger share of the crop than they did last year
The general estimate of the stock on hand at Llv-
crpool was from 10000 to $4,000 bales, but the
regularly ascertained figures are as follows fol
1866 there were POI 900 bales American; III ,O0C
East India and China and $4,000 Brazil Egyp-
tian, &C., making total Of 1000; for 1867,
there are 332, 900 American; l4l 900 India and
China, and III, 900 Brazil, &C., or GA, 900 in ALL
exhibiting an increase Of 81 900 Tor the year, OF
from l5,U0O to 10000 n,o than was supposed.
The best authorities think that this accumula
ton will grow until it nearly equals, ifit does not
eventually exceed, comparatively, the maximum
of last year, and prove sufficient to prevent any
speculative movement. When we use the guard
cd terms employed above, our readers will remem'
Der that it is feared that the cotton crop for the
present year may be 100000 bales less than
the last. In addition to the disastrous influence
of the recent inundations, many OF the Southern
planters have become discouraged at the prospects
of the cotton business, and yield ready assent tc
the language Of 4 portion Of their press, seeking
to induce their abandonment Of the old staple anc
the substitution of cereal crops in its stead. The
continuance Of cotton tay is powerful argument
on this side of the question. That this burther
luSl UC SUI VI VI Jul SpltOH
is in danger of serious Decline is only too evident
from the preference shown by European manufac
tllrcrs for East India cotton at the difference in
price of I'd. per pound 1t is also clear that the
Oriental growers are making handsome profits,
while our own are rcaping very little, ifany The
months of May and June vii! sec the heavy arrl'
yals at Liverpool from lndIa commence COZ men as tho$s @
swell the stock on hand to point that may throw
all the control of prices into the power Of original
Notwithstanding that the existing aspect of the
cotton trade is, as have pictured it, by no means
more than usually encouraging, so favorable turn
may yet be given affairs both here and in Europe,
within the xtsixty days. as to yield us substance
for more cheering comment.
For the moment, however, the promise is not
dazzling, and the expectations OF those who hoped
for better things last Autumn, must see their real
ization little longer deferred.