The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1867-10-04
COLUMBIA.
Friday Morning, October 4. 1867.
Cotton--Its Prico and Prospects.

We ASokh AtOh1 OhL AOOuthOAh S-A
changes generally, that the past two
weeks the weather has been un-
usually favorable for cotton picking,
and that the work was progressing as
well as could 30 expected. Although
in some sections the rains of August
have caused some damage and de-
Iayed picking to some extent, yet, so
far as we can make up an estimate,
the prospect for fair yield, through
out what is known as the "cotton
belt" of the South, is promising. III
the Southwest, the damage by over
flows and caterpillars has, no doubt,
been very considerable, but perhaps
not so extensive as has been repre-
sented.
But the recent and rapid decline in
: prices proves terrible damper to the
hopes and expectations of the plant
ers, and especially is it so this sea-
To- son, when very few. if any, can hold
on to their crops, rs they have done
III former years under similar cir
cumstances. A large portion of the
incoming crop, in almost every
Southern State, has been pledged or
mortgaged for the supplies where
with to raise it; and we venture to
say, vlat not one planter out of ten
is, now in position to withhold his
crop from market. Whether this
condition Of affairs is blessing or
an evil. the future price of the staple
can alone determine. In old times,
when low prices induced many plant
ers to hold on to their crops, it was q
standing rule or maxim among the
Oldest and most sensible planters. to
sell when the article was ready for
market, and we have heard planters
of experience say that the rule
worked we'll, and that, in series of
years, by adhering to it, the planter
made money.
Therefore, Notwithstanding the
7 present low prices, it still might be
better for the planter to sell when his
cotton is ready for market. This
view is sustained by the consideration
that it is not now as in former days,
when the kingdom of American cot
ton had large voice in determining
its price. The present decline is not
caused or effected by anything that
has occurred on this side of the
water. The buyers and sellers of
Liverpool and other European cotton
markets, are almost independent of
the movements of the staple in this
country, and are entirely uninfu-
enced by the fluctuations in price, or
the extent of the crop here. The
control has passed from our hands,
aud whether this loss is to be perma-
nent or merely temporary, depends
entirely on the future working of any
labor system that may be adopted in
the South, the removal of the pre-
sent unjnst tax, and the perfect resto-
ration of the States to their political
status in the Union.
But none of these favorable mea-
sures can affect the price of the pre-
sent crop, whatever they may do in
the future. The supplies from other
countries, either in transitu or to
come forward, combined with fair
stock now held in Liverpool, forbid
the hope of any material advance in
price for some time to come. At all
events, the planter should never be n
speculator, and least of all is he in q
position to be one now, as he is COM
pletely without means or facilities for
such purpose.
o. O.'s REPORT. Howard has
sent in n reDOrt of bis Ruraou The