The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-08-14
THE DAILY NEWS,
THE COTTON TRA.DR.
Smith, Edwards Sc Go . Monthly Cotton
Circular.

LIVERPOOL. Jaly 81 The prospects Of our
market have grown more unfayorable for the
conSu nef dur ES s'5 ast month the defici,
In the known supply Of cotton for this country
having Increased IRON 100000 to 35l, ,OCO bales.
more alarming change than We bad antioi.
pated. The main cause OF this has been the
very small shipments from the Indian ports
1or sever al weeks as compared with the last
against smaller ones at the same time last
year. We think the comparative deficiency
mas now reached, or almost reached It's cui-
minating point; but the great difficulty re-
mans, how to overcome it before 49, ="
NV 37sgS .Wo can afford. perhaps. to reduce
stocks in the ptr's by 150 600 OF zoe, 600 bales
Acit must be met by reduction Of consump-
ton and export.
At pres.h. there are no signs Of this process
coming into play. aud the longer 1T ls delayed
the more violent the contraction must be. 1t
ia varv evident thnt some time this autumn.
either through further rise IN the raw ma
terlal, or co'lapse in Manchester er trade with
ont such q rise, an equilibrium between supply
and demand must be established. 1t is very
dlmcult to form an opinion, but We incline to
think that American cotton. which is relatively
the scarcest. must further advance in value.
In 1t the deficiency is so excessive that it is
MOST difficult to soc how the trade are to pull
through the intervafbetween now and t". ar
rivai OF the next crop. We calcula+~ n a,v "n
cooon wor by Of notice v fnas haro no bfors new
the 1st Of Novemhe 80 Amercsn I'm SINNERS % VIII
~ seas ..ss without q bale when the next
season Opens, and must take most OF the re-
ceiptS during september.
Our atock Of American is ..bales 10000
Further imuort TO LIST November. ........... 1000
Total eupll, Of american to 1st November,
Allow oonsum pton and export, 14.oO0 bales
per week., Tor Is weeks... .182, 600
Stock LIST November Recommendations. 23,80O
A8ainee itst year. ol,oVo
It appears; therefore, that the u, most deliv 4
cry that ouI supply admits OF is "A goo POO bales
it was 21 600 bales; against this It may be said
that the trade hold perhaps 80 600 bales of
hand they have a far smai or supply Of Braz
70 draw hom-the stock being 65 600 bales,
against 129 900 bales last year. 1t mu,t not
be Forgotten, however, that the priee Of Ameri7
average price in the autumn OF last year, and it
remains to be seen whether this will bring q
sufficient stringent action to bear upon con-
sumption. w
The position Of Burat cotton we consider as
relatively not so strong as American; there will
be also serious deficiency in 1T, but the pro-
portionate contraction OF consumption will not
need TO be nearly 80 great as in long stapled
cotton. We incline, therefore, to think that
the present difference %, Of price between Amer-
son advances. fs.
With * gari to the growing American crop,
we are happy to report favoraby. The weather
has been good the past two months. and has
ppsasly repaired the injury done !; BY cola and
last one. and has yet to pass through a critical
time; so that it as quite premature to hazard
estimates Of yield, The area planted is be-
available no greater; there has been, however,
an abundant use Of fertilizers, which may in
crease the product, even where the labor en-
ployed is no greater.
However the cotton question is viewed. the
prospects in tie immediate future are melan-
Choly for the consumer, and it cannot be doubt
ed that during the coming wlni or, it not before
then, vast amount Of machinery must be
stopped IN Lancashire. We therefore turn
with pleasure to more pleasant subject, VIZ
the efforts now being made to introduce Chi
upon the future production of cotton. For
several years there has been q large Chinese
immigration into California, where from 5O,OOO
TO 10O, COO of that 1ace are now settled, and
they have proved themselves such excellent
labOrers to have d,an!ac the native Ameri-
oans from several branches of industry. Since
the opening of the Pacific Railway several hun
dred Of these people have foun their way into
the South. whore the planters are eager to re-
ceive them, and now contracts are being made
for the transportation Of consid derable numbers
There seems little doubt hat the stream Of
immigration will steadily flow on, and before
many years are over supply the South with
SiarRe accession OF valuable labor. We do not
suppose that this new element can affect per-
'cepibly the crop just growing, but before
many years are over we hope and believe that
great results will be obtalned.a .a14- Y. es.%:
. Without such labor We would have little
hope for the South increasing its crops of cot
ton materially. for the negro race -ias believed
to be diminishing. and will not be induced to
work labor,onsly even withe high rate 81 va
Rea. The Cainaihan, on The Other hand, is
fond o. money and willing to- foil hard 4oEac-
nrire i. and we believe his LABOR will plti-
mate.y be found more serviceablo than that Of
This iss the solitary ray Of hope that now
shows itself on the dark horizon; we trust it
will be the harbin er of brighter day for this
harrassed and SUFFERING trade.