The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-09-30
The Cotton CrOp-Cotton suppIy-Isu.ines-
Prospects,


With all the drawbacks to the cultivation of
cotton compared with the means and facilities
just before the war, the crop of the present
year is large and very valuable. 1t is now
generally estimated at two million five
hundred thousand bales; and it must be re-
cotton SPECTATORS, who are often interested in
disappearing the facts, but of the planters
themselves and Of those who prepare careful
statistics of our productions. The cotton
generally is of as fine quality, too, as in the
most favorable seasons. This years crop,
therefore, will he worth. If the present price
be kept up, about two hundred and fifty
millions of dollars. There il reason to be-
lieve the price will be sustained, or that it will
decline but little. The stock of our American
long staple on hand in Europe is very limited
and there is large demand at home. The
crop will realize, probably, more than any
previous one has realized for when il reached
four and five millions of bales, as in the years
just before the war, the market value per
pound was not half what it is now.
England has been making extraordinary
efforts for many years past to stimulate the
growth of cotton in India, Egypt and other
parts of the world in order to make herself tn
dependent, to some extent ut least of the
United States for this article. The money ex-
pended by the British government, by the
government of India and by English CAPT
talists and manufacturers for this purpose
amounts to an enormous sum. The war in
this country which cut Off the supply to Eng
land and which ut one time threatened to break
up and revolutionize the vast manufacturing
bus ness Of that country alarmed the British
redoubled their former efforts to get a supply
elsewhere, and they did increase the produc-
ton vastly in India, and, to some extent, in
Egypt. Still, as soon as the war was over
here and American cotton could be obtained
again, the demand for IL was greater than the
supply, and it continues to be so even at the
high price of twenty-five to twenty eight cents
pound. Why is this The answer is plain.
The cotton of India is poor short staple
article and badly prepared for market; the cot
ton from Egypt, though better than that of India,
and said to be equal in quality to some of the
best American, Is raised only to limited
extent, and the crops are very unreliable. It
has been said that Egypt would produce two or
three millions of bales year with sufficient
labor and skilful cultivation but there is
neither the labor nor skill to obtain such vast
production. We doubt, however, IL anything
like that amount could be raised under any
circumstances. The truth Is, our Southern
States are the only reliable cotton producing
region yet discovered in the world for the
best qualities, and there is no fear of other
countries rivalling this in that production. Our
soil, climate and labor, and, above all, that
benefcent Gulf Stream which sweeps round
our coast, giving the needful showers alter
nately with semi-tropical sunshine, give us
for all time monopoly of cotton culture and
the cotton markets.
When we look at the terrible destruction of
property in the South during the war; at the
universal poverty of the planters and of all
classes of people, at the breaking up Of the
whole previous labor system, at the political
and social disorganization, at the WORKOUT
condition of all the implements and appliances
Of industry, and at the want Of capital the large
cotton production now is as surprising as II Is
gratifying. But that Is not all. The South has
raised this year vast and an unusual amount
Of corn, wheat and other cereals, with almost
everything else necessary to sustain the popu-
lation, Independent of outside supplies. In
deed, we should not be surprised If the South
should have surplus of provisions for expor-
tation. Besides, there IL fair tobacco crop,