Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-04-22
rASrFACrynEN-pEPREssIox.

The following article from the New
York T0yld is not devoid of interest and
value even to cotton-growecs. And yet
these are so completely at the mercy of
what are called capitalists, that is, men
who have enormous credits, and with
whom a purchase of Stocks or Cotton
amounting to millions, really represents
only so many thousands as they may
lose or win by it, that no amount Of in
formation which they could possibly SC
eumulate could be of the least assistance
or guidance to them. Three months ago,
cotton sold at II and y cents: now it
sells at %. 1t was put down in Novem-
Der, with the connivsnce Of Government
officials giving assurances that the
American crop would be 2,5O0,O0 bales
TO enable spectators to buy low, and
hold for a rise. When three-fourths Of
the crop had passed into the hands Of
these gentry, so that rise in prices
would benefit neither planter or factor,
then the engine was reversed, and rise
wss produced;
! Itfsaot alone Ia the United States that trade
is dull, and H3an JfdcturerS and dealers are 0is-
| G Csutented and unhappy. X II be true LhaJ
/ misery /, YES company, aud that our own woes
] NAV be alleNiat=d by the ccnieIn plalon Of the
| vretchedne Of DJasTs our manufact, ,treGs ana
/ me rchants may derive ONE c0nso tlon nom
! tn rt fiction that they are not much Worse on
than their fel ow-suflerers in France anu q eat
/ Bri.aiu This satisfaction, however, msy De
/ lesseued by the fact tha in Englsnd the period
/ OF deprssSlon uas apparenuy passed ITS cllInAE,
/ and tnst having ior 4. long Cme bssn as their
l worst things there have now commenced 10
! mend. The manufacturing and commercial Ia
terets of Great Britain reached a pOIlt o pros
| psrity re fer before attained in lz67, in which
wear tbs eXUOrEs OF British nanur rtcJuccS aud
/ nr9duce To iOteign countries nd BRUSH colo
nies reached She magnificent total or 500 So .
a sum equal 10 SS2g 00O Vast as was his
| sum, it was surpassed ia the following year
| when. by ths r-yival O, The cOJ1On manufacture
/ caused by he incrs aSed supply o. that staple
| conSsCu ucnJ on the cessation of nOs1lutleSn lhe
south, the expo. Is reached the total ol tssS-
81 53G, or 9H,0J0GJ0 had thiS increase
continued through 1907, the exports would have
| ex -seled one thousand millions Of dollars in
value; but instead Of this they dimtnt-het, and
the total of the exports OF the year is only ssOo,
100 0UUtO be exact, 81, ,lS3 III II Is quite true,
| however, that this decrease Is rather apparent
| than real. In 1856 there were imported ~
Great Bit .in l,5l7,OlQ 90 Ibsof raw COTTON AT a
ton were 2l2 lji 90 lbs, at q cost OF only t52,-
0lOtuJ; in otner words the decrease In tue uan-
| tlty was per cent, Will the decrease Ia the
J cost was 32 per cent Tle exports OF cotton lab
, | rics ia 1867 were N value only f3 S59OOJ less
| than lsI5-that is to say that while the raw ma
terial cost Els 000050 less, the sales o. the uae-
! ufaetured maer al were not quite "A uVO,UVO les
I This Is not by any means a bad SHOWING, and
ii may be said that the cotton manu- acJurers
/ in England have done better in 1867 than they
! have Ia any year since 1851. The following Ia
statistics OF the trade Of 1857 viii be 1ound to bl
! Interesting: