The south-western. [volume] (Shreveport, La.) 1852-1870, 1869-12-01
The Price of Cotton.

This is matter which greatly troubles planters,
and one which is very difficult of solution. Shall we
sell for the present prices, hold for anticipated
advance. Many of them seem to be in doubt what to
do and endeayor to improve their doubts by in
curing OF disinterested parties what they would do
under like circumstances. Consolation of that kind
is to be had for asking but its utility is another thing
The press appears to be divided in the matter-some
advising to sell Others to hold and others to do as
you think best" The latter has the advantage of be-
ing modest in its advice, if nothing more
We conversed the other day With one of the oldest
planters in this parish, who was not only in favor of
selling at the present prices but who followed his own
advice He gave as reasons for doing, that large
crop bad been made and dry, favorable fall should
be the means of it all being saved. The gentleman
we speak OF is out of debt, and well to do. Shortly
after we met another planter who was of the opposite
opinion, and who had determined to hold his crop for
an advance He had his for so doing, and said
the following extract from an article in the New Or.
leans Picayune ventilated this better than he could
At the present moment, and in fact early in every
season, Our cotton market must be governed almost
entirely by New York and Liverpool quotations. be.
Jul P'ateis nave uot aCcu uiateQ SuHclent CAP
ta to back any preensions they have and commission
merchants unable to stand the pressure resulting
from an accumulation of stock Hence foreign and
northern buyers BY standing aloo generally able
to force down prices within their limits This decline,
originating in the views of consumers in turn reacts
upon other markets. resulting in reduction at all
points Most of the bearing" originates in the city
OF New York The tenor Of every one of their mar
ket reports, the sales for future delivery-mere bets
upon declne-the astonishing estimates with which
'heV "stuf" Manchester spnners, and their garbled
statements of the character quality and condition of
the crops are all indicative of their sympathies The
grand desderatum seems be get the cotton of the
South at the lowest possible figures in order that we
may continue under their control and dominion Pull
ling Id the same direction with the English buyers
they disseminate every bit of information that is cal
culated to deDress and that which LsLv. p.iooo
they studlousy omit and as their circulars and news
papers are more extensively circulated in Europe it is
not difficult to divine why such extravagant ideas of
the crop are relied upon the Atlantic For ex-
ample, the New York Herald, in recent issue, after
stating that the crop before the war was 5000 900
bales, but that since that we have never made
over three and oDequarter Millions predicts that the
present one will reach four million bales We cannot
presume that any journalist should be so ignorant of
cotton Statistics and must conclude that was wfu
misrepresentation to cater to the wishes of Eastern
manufacturers. Why cotton should be materially lower
Than last year, loss to discover The supply
OF the world will be but little above last years con-
sumption, (which was much reduced,) for although
much is said about large increase in the production
Of India, yet if judge of the correctness of these
reports, which through English channels, by their
ideas of the American production, must consider it
rs mere scarecrow. Even should the crop of the
South reach 1850, 900 bales without increasing the
consumption of the North, there would be an excess
for expectation above last year of only 300 900 bales
which Was about the deficit in the worlds supply at
the commencement of the commercial year. In ls67-S
prices touched bottom in the latter part of December
the low prices having stimulated consumption as to
reduce the reserve half million bales Last year.
about the middle of November from &c there was
an advance at all points, which continued to the end
of the season.