The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1869-05-27
The Cotton TRADE. Trade.

: The position OF the cotton and the cotton
goods trade, (says the New York .ShiDpin1
and Commercial List, of the 18th inst. 4 has
undergone 10 essential change for the bet
ter, on either side of tho Atlantic, during
the last month. There has been a slight
shading in prices of the raw staple, but the
decline has not kept pace with the fall in
goods, and hence there is continued COM
plant from manufacturers of lack of pro-
fits, and general feeling of uneasiness.
Stocks OF cotton are everywhere below last
year, while the supplies of goods are larger,
though the production of the latter in Eng.
land has lately been curtailed to the extent
of twenty per cent The production of
goods on this side of the Atlantic has not
thus far been lessened to any appreciable
extent, though it is evident that, unless the
present depression and apathy in the mar
ket shall give place to u better tone, an
abridgement OF the hours of labor will be
forced upon the mill owners, rs it has been
on the other side of the Atlantic. In this
way, accumulated stocks may be worked off,
and proper margin between the cost of the
raw staple and the value of the manufac.
lures restored. The state of trade in this
country, bad as it is, is not so dishearten.
ing, apparently, as it is in England. We
have no such accounts of reduced wages of
operatives, improvident strikes and general
tricts, as we have received from England
during the last two or three months, accom-
panied by heavy failures The falling off
OF 10, SO7 900 pounds of yarn, and 81, 49,
OOO yards of goods exported from England
during the first quarter of the current year,
compared with the same period in 1868, will
go far to explain the present distress among
the Lancashire spinners. From the present
outlook, 1t does not seem likely that prices
OF either cotton or goods will undergo any
marked change, until such time Ms better
idea can be formed with regard to the pro-
bnble supplies of the raw staple for next
year. when the market will probably be
subjected to a new ordeal.
AS 1t Is necessary in England to run the
mills full time, in order to realize profit,
the losses to the manufacturers in conse-
quence of the short time movement, which
has been forced upon them by deficient
supplies Of cotton, must be estimated by
scores of millions of dollars; while to the
operatives tho losses and privations are even
more serious. This state of affairs. natural
ly, has the effect to renew the exertions of
the Manchester Cotton Supply Association
to stimulate increased supplies in the new
sources, and this they are doing by the ex-
tension OF railways in India, and the en-
ployment of increased capital there and in
every other country where the staple can be
raised
From the views and efforts of the English
capitalists to obtain supplies from other
sources besides the United States, our coun-
trymen will understand the necessity of
lending every exertion to secure at least
share of the profitable trade in which they
formerly enjoyed monopoly 1t is for our
planters and capitalists to consider how this
great end may be best affected. It is evi-
dent that labor must be more thorouohlv
organized in the South, and that the essen
tials of perfect order must be secured. in
order to attract capital to that section.
Every consideration of sound policy and
craftsmanship demands that no effort should
be spared to recover our prestige in the cot
ton trade.