Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1869-04-21
46.O2s 29ls, l56 6G3.sJl 2.463.4l6

1t is expected that the supply for the
year from America will not exceed $780,
900 bales, and from East India 95O,OOO
bales. From the other countries about the
same az last year. The takings for the
first quarter of the year, small as they
have been, should be reduced 1000 bales
a week, 10 leave the stock on 3lst Decem-
Der same as last year. 1.-THE consumption
remain at the present rate, the stock on
lst January would be not much over 2OO,-
900 bales. The deficiency from Bombay
will not be felt until June, when in 1865
the shipments we're enormous.
From Liverpool, Friday, we have the
following report Sales of the week "a
600 bales, Of which 5000 bales were 10
exporters, and IL 900 bales to spectators,
leaving 5000 bales to the trade. The
total stock ia 3l4 COO, of which l43, 600 are
American. This shows decrease Of 5000
| bales in the stock of American. The
market opened 6rmer. Sales estimated at
10000 bales. Middling uplsnds 12id,
Orleans 124d, closing quiet. Sales 10000
bales. MiddliDg uplands l2fd. Orleans
l22d. Manchester quiet and firm.
The cotton trade on both sides of the
Atlantic continues in an anomalous con-
dition. Stocks are everywhere running
low, with no prospect of replenishment
till another crop shall be ready for mar
ket, as there is progressive decrease Of
receipts at our own ports, while the Indian
supplies promise to fall materially below
those of last year, and the minor sources
of Egypt, Brazil, etc, afford only bare
average quantity. Although prices are
about three cents per pound below the
highest point of the season, the staple is
still much higher, relatively than goods,
many kinds Of which are quite as low as
before the war, on gold valuation. With
no abatement in the cost of producing
goods, it follows that manufacturers must
be working without profit, il, indeed, they
are not losing money. In the manufae-
turing districts of England a good many
failures have lately occurred, and the rate
Of consumption is fully ten thousand bales
below what it was in January. Under a
normal condition of trade the price of cot
ton could hardly fail to materially appre-
ciate, az spinners were rarely ever 30 bare
of supplies; but as the case nov stands,
they find it almost impossible TO get back
a new dollar for an old one, and hence
they are reduced to the necessity of the
most rigid economy, in order TO make ends
meet.
That the favorable results of last years
crop of cotton have induced efforts to-
wards a still larger production Of the |
staple The present year, is not to be doubted.
But it is very questionable whether the !
actual increase will be considerable, Oh
even appreciate. There is land for the
purpose in unlimited abundance, but there
is no proportionate supply of agricultural
labor. Indeed, there ID reason to suspect
that the resources Of the latter now on
hand in the South have reached the max
imum of development, from which there
will be more tendency to decline than to
increase We refer especially to the freed
men hands who have constituted the bulk
IF plantation laborers in the cotion-grOw-
ng enterprises of the past three or four
Years: Time is proving in this country
' hat it has proved in Jamaica, in Hayti,
n Africa, that the free negro has no more
elish for continuous labor in the fields in
he long, languid summers of tropical and
Iuasi-tropical countries than the free eau
asian; and by some judges he is regarded
s having much less, and as being particn-
arly repugnsnt to plantation labor aslOng
8 there open to him lighter occupations,
r other modes of living more conductive
0 the dolce far nisnte existence of big
unflower nodding in the breezes, which is
oeticaIly supposed to fulfill the Ethiopi-
ma dream Of terrestrial happiness. /,
Turning TO such elements of white labor
3 are now in the South, We shall find them {
ending to development in mechanical and
manufacturing directions rather than ag-
cultnral. Henceforth more and more Of |
outhern industry will be devoted TO the b
of cotton after il is grown,
nd it is not impossible that in ten years r
ne half of the value of the Southern ex-
ort of cotton will be in the shape Of
oths or yarns turned out Of Southern
ctories. The impending change will
.omote the substantial wealth Of the
,uth, but, as the situation nov stands, il =
ust necessarily divert capital and labor :,
om the cultivation Of the fields to va
.ty of ho:ze manufactures, and therefore :,
ust tend to limit the production of y
tton.