The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-07-31
CONDITION OF THE OorTox TRADE
From the London shipping aazette

From the London shipping Gazette
The cotton trade is still in very peculiar
position. The strue gle between Liverpool and
Manchester, which has been going on for so
long time. has resulted in the partial defeat
OF the latter. The position Of the raw material
ls statlstlcally strong. while the stocks Of cot
greatly reduced in consequence Of the restrict
ed exports from this country. Holders Of raw
cotton have been further favored by the fact
that money has continued cheap. which has
contest with the splnners: There is very
little doubt, however, that the latter have
pursued the right policy in limiting their
purchases to the Utmost extent. and they
done so. The restricted consumption, which
has been going on has impar:ed healthy
tone to both the Liverpool and Manchester
markets, and more activity may be anticipated
supplied. The immediate cause Of tho return
OF activity is the condition Of the Eastern mar
ket, which must, by this time. be pretty bare
Of goods: The shipments TO INDIA as We have
sually smaff scale for some time past, and al
toRether out OF proportion TO the requirements
of go large 2 population, . "a the other hand,
the exports to China have been greatly oh the
increase. These, however, have been rapidly
absorbed, especially so far as the Northern
ports are concerned-a fact which goes far to
prove that we are as yet unaware OF the great
capa1thties OF the China market. trade with
which would almost appear to be in its In
fancy @Q'A 3sD9Est 45trl l7r; L
The American markets have also shared in
the improved feeling, not. however, from an
exhaustion OF stocks. which are at present
sr Mciently large, but rather from the growing
belief that cotton must continue to advance in
consequence Ct the altered aspect of affairs
From South America, too, the reports are such
as to lead to the belief that now that politics
have assumed . more peaceful attitude, the
usual supplies OF cotton goods Will be requ red.
From this changed position Of the cotton
goods market. 1t il evident that an increased
demand Tor raw cotton may be anticipated X
1t is difficult to see, however, how any great
ly increased demand can be satisfied ont of
present resources. The quantity OF cotton ON
hand in Liverpool is very small having oply in.
creased by 13, 700 bales since the opening OF the
year. 1t may be noted that the average Stock
held twenty years ended 1860 was nc less tha an
bales tRs saBsp ea e. e:s eapd su e. sas
n that an amount. Even il we take ths. case Of
nsS nsSax VAL Joy bales IN 1867 VS. oo
and in 1868, COZ, ,O00- the average being
1888 coo bales. 1t bas. however, been gradu-
ally declining, until it has reached the present
low figure. But any increase in consumption
wonld force prices up to such Q point as to
prohibit shipments of goods to any great ex-
tent, aud we doubt if the foreign markets are
yet sufficient denuded Of goods to allow Of any
material increase in prices abroad. For this
reason we incline to tke belief that the activity
which has lately set in through the Manches-
ter, market is OF q temporary nature, aud will
not be maintained in tho face OF 9 continued
rlse in the price OF tho raw m lteri al. Fl