Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1869-01-12

S"eS Tue lOlloWlng statistics !
relation to the cotton crop of IN,
year, now coming to market:
: The total stock in our ports IS 9qs
i 81 bales, against 350SS2 bales sam
Time IN 1858. In the interior towns M,
eember is. the stock was So 7S7 b.Is.
against lO5. sos bales a year ago. Tn
|, stock in Liverpool is $500 bales !
winch S2,OOO bales are American aAa,
20, OUO bales, Of which los, 900 bales AZ,
from American ports. One year ago IN,
stock IN port was Az, 900 bales Z: I03 OOr
American; ahOat 1914 900; 40 900 Amer,
can The present visible supply in Liv.
erpool, London and Havre Is ga 9Is
bales, against, S54, 7O5 bales on Janns-v
| 1, 1868. Manchester stock is estimate
at $1,000 bales. Receipts at all the ports
to date show an excess Of IO3 O99 balss
lover those OF 1865. Exports show AN
excess Of 81, I34 bales The execss' of
receipts has been reduced 1914 bales
during the month. During the month of
January. last year, the weekly receinss
averaged 80,555 bales during the irsf
three weeks Of February 81 ,56S bales.
or say S5s276 bales for the first seven
weeks OF the year, and on the Dist Of
February the stock in Liverpool was re-
dueed to the minimum OF the wear.
6I,OOO bales, with 27S,OO0 bales
atiOat. The deliveries TO the
trade, during these seven veeks
had averaged 81 $40 bales per week: de-
lyeries for shipment 10, $50 bales; Md
ding Uplands, sold, on the date referred
to, at lOd. For the five years lust prs-
vlous to the war, the receipts to the first
OF January had averaged AZ per cent.
oil the total receipts Of the year. List
year the per centags was about Az.
But applying the first formula to the prss.
ent receipts, the result would indicate2~
l4I,5OO bales as total port receipts Of the
crop Of 1868. The improved facilities Tor
overland transportation lend probability
TO the belief that this per centags is too
LIBERAL We refer here to the fact that
these improved facilities for overland
transportation TO the mills, leaves lar,
ger per centage Of expOrtabIe cotton in
the ports, as compared with the entire
stocks, than IN years before the wa. 1t
is generally believed that planters are
holding back portion Of their cotton in
order to make receipts light and to ad-
vance prices Certain it is that they have
already received nearly SI25, 100000 Tor
previous shipments, and are strong enough
to undertake this hazardous enterprise
The argument of the "bears' and
''bulls" are thus adjusted to give
a prospective of future prices. The
"bears' argue that receipts and ex-
ports are in excess of last year; an
enormous crop will be planted this
year, the India crop is coming for
ward earlier; the consumption is
ess than last year; Europe is poht-
cally sensitive; and cotton is the
iearest product in the market,
both as compared with the
cost of production and as COM
pared with the price of every
'ther article in general use, and.
therefore, prices must 90 lower. The
bulls" on the other hand, say that
he planters are holding back their
rOps; comparatively small stocks
re in the ports the general expecta-
ion of better trade will create an
xcessiye demand for cotton of
ertain grade which demand it may
e difficult to satisfy and difficulties
re aggravated by short sales in
'remen and Havre. The hue and
ry raised by British manufacturers
bout working short time is laughed
l. The circular says:
Short time has been predicted. and
S adoption reported so often, that it at
acts little attention now. The truth
ems to be that short time already pre-
Ills to a certain extent, while spinners
So have been supplying themselves with
ton, bought TO arrive, at prices y Pld
How rates current on the spot. A COM
rlson OF the prices Of cotton in Liver
ol and iabIics in Manchester, not to
eak Of the numerous recent failures NJ
tn sides OF the Atlantic show that tia
interest is in an unsatis,
tory condition. Indeed, every one con-
cted with cotton is losing money ex,
pit the planter, who is gaining nearly
. per cent. upon his outlay. Tn
Their anomalous condition of affairs can
ly continue if the price Of goods is adj
need sufficiently TO pay the Iaiddlemen
air equivalent for their services. This
vance in fabrics is not likely to take
ice, unless it appears that the supply
cotton is short, and so the position
lges mainly upon receipts. The com
month will develop this question"
The farmers will find it difficult to
e how New Workers, who are "the
cry body" of this circular, are
sing money, so long as they realize
e same price in gold that they pay
r it in greenbacks.