The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1869-03-30
pes. 100 kegs, 2lo cases. Exports

WHrsKY-There has been more inquiry for this
article. The supply continues large and prices
are easier. Sales Of lao bbls. as follows 100
Southern on P. T., end 40 w. r. at $40. We quote
". 4. ct SOC. @l Southern s5@sOc.; Bourbon
81 500. Receipts 557 bbls. Exports ITO bbIs.
FREIdHrs-The market BY sail vesseis to all for
eign ports evinced no change worthy OF note.
We hear Of several engagements being made to
Liverpool via Mobile Bay at 3D.. which route
seems to be coming more in favor OF shippers.
By Steam-Cotton TO Liverpool via Mobile a.;
to Hamburg TO-; 10 Bremen TO-; to New York
sQto.; to Boston lc. (; TO Philsdelphis 10. mo
lasses to New York 81 SO; sugar IS
hid; to Boston So y bbl.; -four TO New York
&c.; to Boston = y bbl.; pork and beef to New
York 81 for bbls. and tierces 81 80: corn to New
York l5c. y bushel.
By sail-CottoD to Liverpool 3D.; to Hsvre
Boston &c.; to Philadelphis lic.; corn to Liver.
pool 9@92d., to Northern ports loo. % bushel.
Wheat in bulk to Liverpool. l0d. To-
bacco to Liverpool 30s. y hid; Tobacco to Lon
don 35s. % HID T; Flour to Liverpool 80. Sd. ~
bbl.; pork and beef TO Northern ports = D bbl;
oil cake TO Liverpool S0s032s. Cd. u ton.
MERCHANTS ExcHASsE.-The sales on 'cbange
tonight were 800 barrels mess pork at 1913 y
barrel.
THE FoBEIGN ASPECT OF CorroN.-The Man
chester Examiner, quoted by the Charleston Cou-
rer, publishes several extracts from eminent cot
ton firms In Liverpool and Manchester upon the
state of the European cotton market.
Messrs. Ellison 4 Haywood state:
''In our last report we remarked that the pros.
poets of supply were not at all satisfactory, but
we entertained the hope that they would improve
as time advanced, our impression being thar the
receipts st the American ports would shortly
show some increase upon the arrivals of last year,
but we regret to state that this expectation has
not only not been realized, but the very reverse
has TRANSFERRED; ipssmuch rs the receipts have
been considerably less than those Of the cores
pording period of 1868, the arrivals ct the Amer
can ports during the past four weeks being only
200 900 bales, against 600 bales in February of
The supply of cotton will fall very short Of the
quantity requisite to enable our mills to work full
the matter Of cotton supply, the prospects are
worse even than they were month ago, mas
much as the receipts ct the American ports have
proved to be much smaller than was anticis sted,
while the accounts from India and other produc.
ing countries remain without favorable change,
the balance of probabilities indicate that the i'm
ports into Great Britain from America will be less
this season than the last.
The position of the staple is therefore one Of
great strength
SO, too. Messrs. Smith, Edwards & Co. state !:
"Pubc attention is strongly directed to the small
receipts and shipments advised from America.
The development of the American crop 10 more
unfavorable than any one could have expected.
We have been told each week that receipts were
sure 10 increase before long, that bad roads or
some other temporary cause, accounted for their
smaIness, but instead of increase, we find fur
Their tendency to decrease, and the average for
February is only $4,000 bales per week, against
80 600 last year. IL seems now almost beyond
doubt that this cropsbss been over-estimated like
the last one. and it seems highly probable that the
export to Great Britain will fall short of the total
from last crop by 1000 bales or more."
Nor is there much comfort from the condition of
affairs in India.
The circular on this subject remarks: "with
regard TO India we are sorry to say that the pros
poets of supply have become worse. The general
opinion now entertained in Bombay Is that the ex-
port for this year will fall largely below the last
year. This Is owing 10 two causes, viz: the
scany supply of old cotton left 10 the country on
the LIST of January, and the disappointing out.turn
taking general view Of the question. that there is
but little prospect Of the country receiving as
much cotton as last year, and there may be very
serious deficit.n aII
Messrs. Geo. Frazer, Son & Co., of Manchester,
console themselves with the opinion that high
prices have given production so powerful an i'm.
petus that the cotton supply will be largely in
creased in the future. They say:
Another important element will ere long come
into play, bearing upon the price of cotton later
IN the year, and this il the increased extent Of
planting to be looked for this spring in America.
Cereals have been cheap and abundant there. but
cotton very high In price, compared with last
year. The great bulk of the extra price paid upon
cotton has gone into the planters pocket and the
nducemsnt is great, indeed, TO extend its cultva
ton. The only coRsoling feature is that
prices will give great stimulus TO its production"
Thus, 1t will be seen they count on lower prices
from increased production and very possibly they
are right. There Is q strong conflict Of opinion on
this point, and speculation is powerless to settle
IL. Some of our most intelligent planters and cot
ton de sers assert with entire confidence that the
cotton crop must fall OF from year to year. owing
| to the rapid dimnution in the supply Of negro
labor. That neither the increase of white labor
nor the application OF fertilizers and improved
culture will make up for the constant and rapid
loss of field hands. and that loss the heaviest 10
the best of the cotton-grosing sec,ion of tue
south.
We will not contest the question further than to
express the opinion that they are In error. The
cotton crop of the South will grow, instead of
diminishing; and in no great length OF time far
surpess its old proportions and attain magnitude
which, IL set down In figures now, would be re-.
garded as fabulous and ridiculous We are not
half so sure how this is to be accomplished, as
that ii will be, and that the annual crops OF the
south are destined, In the next generation. to
laugh at the puny achievements OF almost any
other section or country. This, We hope and be-
lieve, will be the recompense of our children for
The injustice, wrong, and cruelty which have been
prscticed upon their sres.
But to drop the distant future-let us have q
word with the present. What is the present as
pect of the case here? Nearly every farmer in
Georgia and the South is this moment busy plan
ming and working TO produce every lock OF cotton
he possibly can, almost regardless Of food crops
in the hope that nobody will be as foolish as him
self.
He knows, for illustration, that crop of three
million bales would probably bring the South very
little more money than crop of twenty five hun
bred thousand. Therefore in the general division
of the proceeds upon that basis, II he pushes his
crop up 10 one hundred bales he Is likely to get
no more money for il than il it represented eighty
bales in q crop of two and Q half million. His
good sense tells him his eighty bales 10 that con-
dtion. with fair food crop, are far better than
the hundred in the other condition. The differ
ence in his favor would represent the value Of the
food crop.
But his hope is that the vast body Of Southern
farmers Everybody except himself will see and
act upon 30 plain suggestion Of common sense !;
and then the general result being moderate cot
ton crop and fair crop Of provisions, he. himself.
will take the exceptional benefit Of large pro-
portion of q moderate cotton crop. He will have
more bales to sell at prices established by light
general crop.
That is the whole story, and each planter can
see for himself how 1t is going to work ont. The
result. reasoning upon probabilities, must be 9
large crop In which every planters larger share
vill he worfh no more than n smaller share in