The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1869-04-01

8 s s 3 g?IE
While the number of6dlcs consumed
last wear exceeds that of lSJ9-G0 lthc
largest previous 10 last year by jSI-
600. the number of pounds consumed
last year was less than that Of 10000
by 100. $685. 600. equal 70 5ls,OOO bales
Of the average weight Of the last year.
This exhibits the falling of In the av-
erage weight of bales since the pro-
portion of American supply fell from
seven-eighths down 10 one-half of the
whole supply. The consumption Of
cotton in Europe and the United
States during the last year ,lsG7-Sl
shows an increase upon the preceding
wear GSGG-7) Of 10000 bales; or 2O0,-
10000 pounds.
We said In our last report that "Con-
sumption must be reduced, or supply
increased lin the world') We have
now TO show that both changes are in
progress.
The Committee and the Association
have much satisfaction lea the belief
that the publication Of their trust
worthy statistics In the autumn arr
rested the decline i'm the value Of Cot
ton, and so turned the current Of opin-
ion. that this crop will leave IN the
country many more millions ofdollars
than IL would have brought bat for
that publication.
The benefits arising from an increase
of wealth In one portion ofthe country
accrue more or less 10 all other por-
tons. Our Association bases If claim
to usefulness upon the theory that. Ia
the long course, II not at every mo-
ment prosperity TO the cotton grower
Is prosperity 10 the cotton mauufactu-
rer, and rice. rersd.
30 now, in showing the probability
that the present year will reverse the
relations of the last, and the supply
will gain upon consumption, and In
crease the surplus at the end OF the
year, the committee perform a plain
duty. If the views and statistics here
presented shall have the effect 90 In
duce the planters TO accept the high
prices now current, and thus obtain
the maximum aggregate value Of the
whole crop. this report will be scarce
ly less usefulsto the planting interest
than that presented Ia October.
IL Will be imprudent 10 walt until
the heavy shipments OF Bombay aud
other cotton reach England, aud re-
lieye the scal city which now permits
a speculative value 20 be maintainei
far above the level that trade can sus-
tain. It should be borne In mind, too.
that every decline in the value of
cotton is attended by an equal or
greater decline in cotton goods. aud |
that il must be SO while the price Of |
both Is abnoTmally high. There Is /
ample proof that such Is now the case. /
At a meeting of the Spinucrs aud /
Manufacturers held nc the Town Hall !
In ManchCs ter, England, Dec. -, the /
Chairman (Mr. Pearson. said Ia the
course Of his address, "lIc had seen
Accommodations of stotks lof goods
that were sufficient TO frightcn any
man. Ia 1913. when good long cloths /
were readily attainAble AZ - gd and 81
- II the whole world was gluttcd with
goods. The consequence was that the
immenFe stock forced itself out and
found its way into regions where
such goods had been previously un-
known. That could not be the case
now, because the world would not
take the present stock Of goods 40 the
present prices" Mr.. Il. Whitworth.
NJ. r.. in seconding the resolutions for
the adoption of short time, fully adj
mitted the inadequacy Of the supply
Of raw cotton, and declared "therc was
no possible chance ola profitable trade /
for a year TO come with the present /
rate of consumption OF cotton" He
further said "in 1860 he could get "a
higher price for shirtings with cotton |
It gid than he could now with cotton /
AZ I'D and nothing could show more /
plainly the disastrous state Of tue oot- |
.on trade I'm Lancashire"
The point here made by Mr.. Pear .
,On is that immense accumula lions Of
goods would 20 off into distribution /
md use at low prices tthc prices Of
S4S referred 10 would be only I'D
md 2d per Yard while the ordinary 1
could not be disposed Of
o consumers, but would pile up GA |
stocks, nc high prices. The
argument takes force and significance !
n view OF the heavy aceumulations Of
goods In their large distributing mar
lets. We have no statement Of the /
Ictual quantities of goods remaining |
lnsold In the markets of the East, but /
What they are may be Inferred from /
he following comparison
The shipments OF plain and colOrcd I
Diece goods TO Madras and Calcutta.
bombay and China, from London. /
liverpool and the Clyde" average for
he five years lS57-iSGl. "a period of
cry active businessj Sll, 100000 yards.
Tor the year ending Dec. 81, ] 1867, they
we're l.O66, 100000 yards. For the wear
uding Dec. 81, lSGs. they were .2iO-
10000 yards. The last year increase ,
more than 80 per cent upon the AYERS
ge of the five years just before the ,
var, and over 10 per cent npon lsG7. 7
a marked falling on 4
owards the end Of Isis. indicative Of !
reduction Of that business the pres :
MT year.
In January 1868, a great and rapid y
began Ia the prices OF !,
9th cotton and cotton goods. Cotton
dvanced from "dull at 49, cents" =
Or middling uplands % 81 cents ace =
I've In May. Trade and manufactur- Il
az not only followed, but fairly 4
ushed the advance in cotton q
y their own energy and pros
ne year at % cents for middling up-
md cotton, with trade and manufac-
Tres dull and Improbable Some few | T
ght goods stand as exceptions, but
My making the general fact more | G
Print cloths few weeks | q,
90 piling up at II cents were made u
he subject OF an active demand at 3 / ~
snts or more by a good stroke OF
Notwithstanding their produc- ss
on from loss TO profit. But the prin-
RS get no corresponding advance. ,
{ IL ceuts the prints 90 freely, but at u'
- cents the sale Is checked. Pass n
* from light 20 heavy goods, take y
le other extreme, export drills. At -
cents for standards of best makes, u
ere was demand I'm excess ofsupply. "a
t l6L cents demand ceases, yet atthe ga
'esent price Of cotton they cannot &c
; made at 1913 cents. Light 4 yard ~
eetings at l21s cents Ia January nv
st year left profit. At Ia cents, ~
e price Of to-day, made from mid ~
ing cotton at 80 cents, they leave ~ ~
, profit. ~
Here stands the plain fact, that when lIl
ere is no accumulation Of goods, ~
Q production sold up close and some '
advance, there is a trade demand for a."
EN- at prices which leave bare av-
age profit on middling cotton at
70 % cents, but when an attempt RI
made to put prices up 70 CORES thu
nd with 30 or even % cents for cot thl
D, buyers stop. Dealers In cotton be-
DDS give planters credit for 80 much "a,