The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1868-12-02

India cotton is annually declining, the
importation having fallen off with the
decline of prices, while China and Japan,
instead otisending cotton to England, are
drawing away a part Of the production OF
India itself. o:,
Can she draw it from Egypt? In 1864
the Egyptian crop furnished Europe three
hundred and seventy-four thousand bales
for consumption: but the past year the
amount Of Egyptian cotton consumed III
Europe was but two hundred and nifty
one thousand bales. She cannot reasona-
bly, expect an increase Of more than nifty
thousand bales from Egypt, as that coun-
try has, been led, by the fall OF cottom
since 1865 and the rise of wheat, to fall
back to considerable extent on bread
stuffs, to which she is best adapted.
Can she draw it from Brazil? Here
she finds, since the resumption of the
export from the United States, a moder-
ate increase. In 1867 and 1868 the sup
ply of cotton from Brazil rose from four
hundred and fifty thousand to seven han
dred and eight thousand bales, an increase
of two hundred and ffty-eight thousand
bales but the year was exceptional, and
the bales weigh less than two hundred and
pounds each, and the excess of 1867.
should it be again repeated, would give
but two hundred and fifty-eight Thousand
bales, equal, nominally, to one hundred
and fifty thousand bales Of American
cotton, and we should still have de6c;!
OF FIVE hundred thousand bales. Europe
cannot find this on the Levant or West
Indies, for their production has decreased
since the war. She cannot find an in.
crease Of more than one hundred thousand
bales here, for our own mills require at
least half The excess over last year, and
larger stocks There is but one direction
for her to look she must turn her eyes
again toward India and call in March for
half Il million additional bales from India.
There is but one invitation that will be
effective, and that must be q tender Of an
advance of price, and that will not bring
the additional supply required before
July. when our crop will have been
marketed.
Ia India, March corresponds with our
September forthc arrival o! the new crop.
In India. half a century since, when we
sent but little cotton abroad, the ordinary
price OF cotton was about twenty-five
cents pound, and even then Surat and
Bombay shipped cotton to Canton. When
cotton rose in 1864 above fifty cents Il
pound, India, Japan and China listened
10 the adjurations of England and sent
nearly two millions Of bales to Europe,
bit when our cotton fell in 1866, below
twelve pence or twcnty.four cents
pornd.in the Liverpool Exchange, Japan
and China stepped their supplies and In
dia sent a part of her surplus TO China,
and all of them made room for the ship
mcnts from America to Europe.
On the Sih day of October last the
stock of cotton at Liverpool was but four
hundred and twenty seven thousand bales,
or three hundred and thirty thousand
bales less than it was ut the same time
last year.
BY the last advices the quantity afoat,
chiefly on the voyage from India. which
averages about twenty weeks, had do
cined from five hundred thousand bales
afioat to thrco hundred thousand while
the stock of American cotton at Liver
pool was but thirty'-two thousand bales,
or about the average weekly amount re-
quircd since January for export and con.
sumption, and the whole amount shipped
from this country since. September lst,
most of which has been sold before arri.
val, is less than fifty thousand bales,
which will not afford u weekly supply of
moro than ten thousand bales week
before the middle Of December.
Our spinncrs require q full supply
Since January their stocks, both OF goods
and cotton, have been diminishing. Our
people bought less than usual during the
war The freedman, who used neither
sheets. blankets nor quilts while a slave,
now calls for his bedding, and with cot
ton at twcnty-tour in place of twenty
cents, the average of last year, or sixteen
cents when he sold, and with no tax to
pay, he can afford to purchase from his
share Of Il crop.
This year the South realizes from cot
ton sugar, rice aud tobacco three hundred
and fifty million dollars in place of two
hundred and twenty five million dollars,
its average before the war, and besides
this, saves on bale cloth, stavcs and trans
portatlon.
The average return of our cotton crop,
as valued for shipment last year, was
twenty cents per pound but this year
the wheat crop OF Europe and America is
Il good one; there is no accumulation of
India cotton at Liverpool, as there Was in
September, 1867, and the movement for
the repeal OF the tax has subsidized. Stocks
run low on both sides of tho ocean, and
the growth of consumption exceeds that
of production.
There is but one element which operates
against rise, and that is the low price of
wool in Europe, duo to the advance OF
duties here in 1867, which has reduced
our import from La Plata, Australia and
thn Cnnn snn,n sixtu miliinnS of nOnndS