The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-07-07

This excess in the quantity of cotton available for
consumption in Europe over last year will probably
further increase. Already the receipts at the Ameri-
can outports have exceeded the modest estimates
formed by the trade this side the total to June
Is having been 900 bales against 1920 900 dur
ing the corresponding period last year. Judging
from the manner in which the receipts keep up
particularly at Memphis-it Is not improbable that
the largest estimates of the crop may be exceeded
1t is, however, not impossible that planters have
hurried forward their cotton to market in order to
take advantage OF present rates, because large
extra breadth of land ha been placed under cotton
cultivation in the States this season. and there ia
reason to believe that the growing crop will consi-
derably exceed the one now being forwarded to mar
ket. The last few cotton crops have been very re-
munerative to planters, and every available acre
has been placed under cultivation where the state
OF the labor market would allow it, The old cry In
the Southern States, OF ''too much cotton and too
little corn" will probably be again heard, and that,
too at no distant period. The cultivation OF the
former had been pursued to the dangerous eXclu-
sion OF the latter. But consideration quite as i'm
portant is the fact that greatly improved system
Of cultvati on has come into vogue and the crop s
therefore, less liable to failure Fertilizers have
come into very general use, and the barbarous GUS
tom OF sweating the soil has at length been given
up: the yield may, therefore, be anticipated to be
proportionate to the expenditure in fertilizers upon
the soil.
than was expected, and If the monsoon is delayed
we shall probably find that the deficiency will not
exceed 100000 bales. The latest adVces state that
the cotton was arriving at Bombay in Unexpectedly
large quantities; values were accordingly somewhat
depressed, and it was believed by some specu-
lators that the results OF the seasons shipments
would prove equal to last year. 1t will be safer,
however, to reckon on deficiency of from So 900 to
100000 bales. Unfortunately the 'mackee" or as
sessment in kind, prevents the ryots from disposing
OF their produce as early readily they would
otherwise do particularly in the Dollorah district
With regard 10 the probable course Of prices there
is little reason to anticipate any important decline
from the rates now current, which are below the
quotations OF last year, and which, when the posi-
tion OF the manufacturing trade is fairly considered
appear likely TO be maintained. There is a large
amount of spinning power still unemployed in Ian
cashire, and advantage would be taken OF any de-
cided downward movement in values to reopen the
mills or to resort to full time II, as will probably
be the case, the American crop now approaching
maturity shows a further considerable increase
over the crop OF 1862 there can be question as to
the tendency OF the quotations for cotton India
will continue to supply England with large guam
tity OF cotton annually, and the South with every
advantage OF climate and quality OF staple, will not
be able to dislodge her altogether from the very
important position she has now attained in the
market.