Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-09-16


THE North, as well as the South, is
recoyeringfrom the political paroxysm
induced by the war. The people of
that section are awakening to the fact
that from the South they are to re-
ceive the means of that trade balance,
the means of that equilibrium SO nee
essary to the commercial independ-
ence of onr common country. All
eyes are turned to the South. The
cotton crop is anticipated with fever
ish anxiety. Dealers put itas high as
1900, 600 bales, and forthwith fall to
specializing in it, purchasing "to de-
liver" at from 264 to SOC for middling.
The newspapers TEEN with express
sions of desire. The New York Her
aId, taking the outside figures, places
the crop at 5000, 600, and in order to
insure it so, urges that "the whole
population should turn out to gath
ser it." Others of the leading organs
of public opinion express their ankle
ties upon the subject of the coming
cotton crop, and all unite in pointing
to the South as the field from whence
is to come the sustaining power of
commerce. In the North, in the East,
in the West as in the South, all pro-
claim that cotton is King, is Monarch,
supreme and almost absolute. But
we think our friends rely too much
upon the strength of his majesty, or
rather rate it at too high a figure.
Our information, especially from
Georgia and Florida, is anything but
favorable to the predictions of North
ern newspapers and spectators. In
some sections the rust, in
others the worm, have played
and are playing havoc; and
in most the want of hands threatens
to effect a reduction of the crop equal
to one-fOurth of what is ripening in the
field. Radicalism, universal suffrage
and other all-potent shibbOleths with
the negroes, have withdrawn them
from the industry where most their
labor is felt. They are now, in-Texas,
especially in Mississippi, attending to
political affairs, to the neglect Of cotton,
to the neglect of everything they can
profitabIy labor at. So, what between
the idleness, the thriftlessness and va
grancy Of the negro, charmed by uni
versal suffrage 1.-THE rust, the worm, and
the drouth, we are not likely to nett a
crop larger than last year, fit comes up
to it by 10000 bales. We put the
crop at $780, 600, instead of 1900, 900
bales. We predicted, on a good basis,
last year and the year before, and re-
suits have proven US correct. We
venture the third time into the field of
prophecy, and again warn planters
against New York kilograms, New
York reports, and Liverpool alarms
and panics. There is no surer indica-
ton of the cotton prospect than that
furnished by Memphis. The shrewd-
est and sharpest buyers in the Union
are to be met with upon our market.
They buy upon speculation, or for
order, invariably with their eyes open
and the condition of the cotton
world staring them in the face. They
take no risks; orif they do, they take
non that are likely to collapse on the
wrong side of the ledger. 1t is this
caution that has secured for Memphis
cotton buyers such pre-eminence with
American spinners, and it is just such
caution, discretion and honesty as
has secured at the hands of Manches-
ter spinners a recognition of the Mem
phis market as equal, if not superior,
to all others. Our home buyers were
not in the market yesterday; nor
were they the day before. It is not
likely they will trouble it much to-
day. Purchasers ON orders are not
in town; the market is therefore
dull, notwithstanding that the
receipts are ahead of what
they were this time last year. 1t
may be that our home buyers are en-
couraged by Eastern adyiees and
guesses, and that looking for a lower
market they are holding of. IF so.
they are not up to the mark of then
wonted intelligence as to cotton, and
"going it blind" 1t is possible,
asa result Of speculation, that mid
ding cotton may decline to 26g cents.
but we doubt it; we do not think it'll
can COS far down on the declining
unless a farmers are guided
believing what they read from
the North and Northern circulars. and
pour their cotton into the market and
decline it upon themselves, so
as to meet the views of the men who
are gambling upon their sweat and
toll. There is such a thing possi-
bic as too much eagerness on, the part
Of our planters. This they must
While anxious to bring cotton
Memphis, aDhere zoe know planters
get 1aore money for IL than else
we are yet DESTROYS for the
planters, and looking as much to their
profits as those of the dealer. in
we are equally interested. we
caution, and that the growers
shall closely consult their merchant
launching upon the market the
products of their labor. 1t is the duty
1fthe planters AS it is the interest of our
home merchants, to get the biggestpos-
Sible price for cotton. All that either
secure as compensation for labor is so