The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-07-20

The United States Economist, NEW YORK;
of the 10Th instant, discusses the cotton ques-
ton as foliows:Ys,;s 5. u ~ -
ldyices from ENGLAND show that there is no
abatement ru the extreme depression That mas
characterized the. cotton trade 1or some nme
past.., Prom the commen cement OF the present
wear the rSde has been duller than has been
Known at any period since the gloomy days OF
abort supplies during our civil war. The pros
pect amounting almost to certainty, that Inc
supply OF cotton from all sources for the cur
rent year would fall below the average DC.
mapd for consumption. maintained prices OF
The raw material, nd even advanced them to
rates that absorbed the profits Of manuf G.
tuIers. The latter found it impossible 10 enect
sales 1T remuneratlve prices. and were COM
IDeIIed to make q reduction OF wages, 10 the
amount Of from five to ten per cent. which
was finally carried after .'strike" OF scme
Neeks' Duration But the reduc'ion OF wages
wss not equiyslentto the advance IN the staple.
and The result is thst manufacturers were
ffced to commune !operstione in man! cases at
D positive loss, with the worse alternative OF
euspersiop Of work. cotton machinery DslDg
20 8ne and del cate, that il lapldly deteriorates
when IL is disused.
o course Tins condition Of affairs could not
3sst forever, and the news by mail and cable OF
futures In Manchester, and depression 10 t6e
cotton trade generally, creates very little sur
pr1se. I be TACT ls, the supply OF cotton at the
preeent time is inadequate, aDd the usual re-
suit OF limited supplies is seen IN the advance
OF prices. The depression must therefore con.
tinue Until consumers OF cotton are compehed
10 Yield to the necessities OF manufacturers.
The f1dicxtions now are that the latter con-
kngency is the more probable. The supply OF
cottea this year is not likely 10 exceed last
yeai n Syeraee, while II may fall below it. It
IA a pet ton soon1to predicate any thing OF the
AmeSicsn crops But unless dlHestersr occur,
It ma, BIZ expected to be fully mp to last years
Auppiy. But the excess can hardly be expected
TO reach ono hundred thousand bales. At
present the crop looks we'll. with not more
Than the usual reporfr OF disasters at this pc
Rod OF the yea-. Jn1y is the critical month,
and few weeks mors Will place us in apositiOn
to make more reliable estimates.
The grounds for anxiety in the English cot
ton tisde copslst in the probability OF only
very si8ht ircreaae IN the supply OF Anerlcin
cotton. md the certainty OF diminished sup,
HE Efforts Of English capitalists, for the last
eight years, backed by the powerful aid q the
government, to encourage the growth or cot
Toni India Egypt and other Places, the crors
this year will fsil below the proceeds iast year.
Ghib result pGtgses tho trade and accounts
1tock 0f COTTON Of sli kinds en- hand m Liver
pool MAS $50 40 bales, against . stock Of 6W,-
SO in the corresponding period Last year.
Here We have reduction Of no lees than 49,
$50 in the stock On hand. The at sea
for Great Britain. June a was: American
70 1000 beles; East India, $40 900; total 5s9, 900
bales. At the came period in 1853. the total
amount Of cotton ct sea was 6S7, goo bales. The
folloxing table shows the changes IN the mar. i.
In 1858: ~
~ ~~-no,x. r~e bolas aSx An