Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-03-11
COTTON.
Review OF the Past, Present
and Future.
BY the Selma Cotton Brokers
Association.

The crop OF cotton to be raised in the
United States cannot, for at least several
years, exceed two and half million
bales, and for the present year the indi-
cations point to much smaller figure
1t is an alarming fact that throughout
middle Alabama the planters are from
two to three weeks behind with th cir
work, and the season is too far advanced
for them to remedy this evil.
,Oa quite large number of the plants-
tiOns no hands have been employed,
| and of course no work has been done,
while on a msjority of them the number
OF hands employed is wholly inadequate
to the cultivation OF the land.
The freedmen TO very damaging ex-
| tent have thus far refused TO contract,
and excessive rains have rendered farm
work wholly impr 4cticable. Under all
! the circumstances it would be almost a
miracle to see crop Of two million bales
this year.
In view of the future prospect of cot
ton as glanced at above, it becomes q
matter of serious interest both to the
producer and consumer to study cara
fully the question of supply and de-
mand.
The entire visible supply Of cotton in
the world on the 5th OF February, 1859,
was 300. 600 bales. In 1865 il was l.
500, 600, and in 1867 it was l, 700 600.
1t would seem apparent from the above
that while the world has been producing
IS much cotton ss we can hope to pro-
duce for at least several years to come,
the consumption has been continually
gaining upon production, and, as shown
above, caused a reduction of stocks to
the extent OF 400 600 bales 10 two years.
The American crop of 1867 was say
2 400. 900. Admitting that the crop OF
1868 shows as many bales (Which We
hold is an error OF 200, ,000) the difference
in the weight OF bales this year and last
will reduce the estimate about 100 600
bales.
In 1867 the planter had every induce
ment to make heavy bales In 1868 the
case wss reversed, and the crop OF 1858
will show q diminished weight OF st
least thirty pounds per bale.
The spinners at Manchester hold to-
day 40, 900 bales less than ore year ago.
This reduction of their stock has been
caused by their persistent refusal to enter
the markets for supply, hoping by this
means to force down pFIoes, but thus far
they have only succeeded in reducing
the price about Of penny from the
highest point.
The receipts at the Uaited States ports
for the month of february show falling
of, as compared with last year, cf say
llO, 600, and this disparity will continue.
so We naturally conclude the entire
stocks now held in American ports,
added to receipts yet to come in, will not
give an aggregate supply Of American
cotton Of 800, 600 bales for the remainder
Of the year,
We exported last year say 1,650,000
bales. Thus fSr this year we have ex-
pc ted say $50 600 Ii we furnish to Eu-
rope this year as much as last, we will
have left for American spinners less than
100 coo bales
From the most reliable statistics we
think tie consumption by American
mills, this year, will reach at least I00,-
600 bales, Of which not more than 600
600 bales have been taken by them. II
this is true, and the American spinners
take 500 600 needed by them, we will
have but about $50 900 bales for export
(hsyi0g 50, 600 bales for stock, thus
leaving us short in our export this year
as compared with last about 450,0 900
bales. This, too, in the face of the fact
that, while We exported last year say
$50 900 bales more than we possibly can
this year the stock in Liverpool was re-
duced last year Sbout 100000 bales,
showing that our exports OF $50 600
bales last year we're, to that extent, in
sufficient to meet the demand. It is not
claimed by any one that the receipts this
year, from India, b 'szil, Z yypt, or else
where, will be in excess OF last year,
while from America the European re-
eeipts will certainly be less by 10000
bales.
Il, roob;pc fLo oho,,o O,ts..oE-z -. = \
suggestions, We have taken as q basis of
our calculation the popular idea con
tsined In the cotton circulars usually re-
ceived as authority. Our own opinion Is
that the crop of 1865 will be about 200,-
O00 This opinion is induced by per-
sonal knowledge of the almost entire ex
hsustion of the entire supply OF cotton,
over q very extensive area OF the cotton
region, as shown by recent receipts.
The receipts st sill the ports this week
are about 40. 900 bales, against 20 900 for
the corresponding week of last year,
showing a decrease of39 900 for the week
as compared with last year. All the riv-
ers tributary to New Orleans were open
to navigation one month earlier this
year than last, and the continued high
prices, added to the necessities OF the
cotton planters Of the West, have made
tnem Tree SellSFs- Inc present material
falling off in receipts at that port indi-
Gates unmistakably an exhaustion of
supply.
The receipts up to this date including
overland shipments direct to the manu-
fscturers amount to, say 1 900 900 bales.
In 1857 the receipts after this date were
about sec, 600 bales. The receipts for the |
past three weeks have fallen off about |
20 600 bales as compared with the cor
period of 1867.
We take the year 1867 as q criterion,
for the reason that We are this year at |
least three weeks ahead of last year in |
receipts, and hence comparison will |
not hold.
The continued wet weather has facili- |
tsted the shipments of cotton, while it |
has retarded labor upon the plantations. !
All things considered, we are fully con
WINGED that the estimates of the crop of |
1868 are greatly above the mark, and that |
2. 200, 900 will cover the crop. One other |
idea, and we will leave practical men to |
draw their own conclusions. At present |
prices there will be near 200, 600 bales |
held over by the planters against say
AZ. 600 last year, thus reducing the sup.
ply to that extent.