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


The cotton trade is still in very peculiar
posltion. The strue gle between Liverpool and
Manchester, which has been going on for 80
long time. has resulted in the partial defeat
of the latter. The position Of the raw material
is statistically strong. while the stocks OF cot
ton goods throughout the world have been
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
given them considerable advantage IN the
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
may not have cause to regret having
done so. The restricted consumption which
has been gong on has impaired healthy
tone to both the Liverpool and Manchester
markets. and more activity may be anticipated
in b 9TH, until at least present wants have been
supplied. The immediate cause Of the 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
frequently pointed out have been on an unu-
sually small scale for some time past, and al
together out OF proportion to the requirements
Of 70 large population. Oo the other hand,
the exports to Chiua have been greatly on the
increase. These, however, have been rapidly
absorbed, especially &c far as the Northern
ports are concerned-a fact which goes far to-
prove that n e are as yet unaware OF the great
capabilities Of the China market. trade with
which would almost appear to be in it's IT,
fancy.
The American markets have also. shared in
the improved feeling. not, however, from an
exhaustion Of stocks, which are at present
belief that cotton must continue to advance in
consequence Ct the altered aspeot OF affairs.
From South America, too. the reports are such
as to lead 10 the belief that, now that politics
have assumed more peaceful attitude, the
usual supplies OF cotton goods will be required.
From this changed position OF the cotton
goods market. It is evident that an increased
demand for raw cotton may be anticipated.
Il is difficult to see, however, how any great
" increased demand can be satisfied out OF
present resources. The quantity OF cotton on
hand in Liverpool is very small. having ONLY in
creased by 13, 700 bales since the opening Of the
year. It may be noted that the average stock
held twenty years ended 1860 was no less tbaa
747, 900 bales, the quantity on band at the
present time being 365 800, or less than half
that amount. Even if we take the csse OF
the last three years, the stock is at an un-
usually low cob. TT July, 1866, the quantity
held was 1,020 600 bales; IN 1857, 7SS 900;
and in 1868, COS 600 the average being
1888 600 bales. 1t has, however, been gradu.
ally declining, until It has reached the present
lew figure. But any increase in consumption
would 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 denudej Of goods to allo. Of any
material increase in prices abroad. For this
reason we ibclins to the belief that the activity
which has lately set in through the Manches.
ter market is Off temporary nature, aud will
not be maintained in the face OF Q continued
rise in the price OF the raw m lterial. .s