The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1870-11-10
RATES, OF ADVERTISING.
The Cotton Trade..-some Of It's Aspects.

It is not easy to understand, says the Charles
ton Courier. how there should be any surprise
at the downward tendency in the price of cot
tom. The fall in the price of each successive
crop since 1866 is but a natural and inevitable
return of the value of this staple to lts normal
level. Moreover, recent events have had oil.
rect tendency to give impetus to this course OF
prices. The Liverpool and Manchester deal
ers, few months back, forgot their usual poll.
CIV of "bearing" the market in anticipation of
the new crop, and for reasons not very obvious
but. as the event proves, mistaken, bought
largely in excess of their wants, thereby sus-
tanning prices, perhaps above what was under
all the circumstances just level.
Following this accumulation of stocks, came
the war between Prussia and France, the effect
of which was to almost entirely stop the Eng
Esh export of yarns and goods to two OF the
chief European markets and also to check Sc
perely the export of raw cotton from Liverpool
10, the Continent, while the Continental de-
mand; at the American ports, sustained like
shock. Under these circumstances, the Eng
Fish market is in no condition at present to buy
freely of the new crop. True, the desire OF the
Liverpool dealers to secure the bests possible
price for cotton of the last crop, which they
had bought at comparatively high figures, would
naturally prevent them from active efforts to
cNSAA
q sort of negative protection of prices here
but the fact Of their having now to sell their
cotton at loss will act hereafter as reason
for Liverpool bearing our markets persistent.
ly before buying any considerable quantity OF
the new crop.
The next influence tending to depress the
home market, therefore, may be expected IN the
form of determined attacks from Liverpool.
Whether this may be assisted by failures among
the English spectators and dealers arising
from their recent and current losses remains to
Be seen it is to be expected, however, that
there will be more or less distrust respecting
Liverpool houses, with the temporary effect OF
checking consignments from this side. 1t IS
important that planters and merchants should
keep in view the. prospect Of this contest OF en-
durance. the question to be decided being
whether Liverpool can do without our cotton or
New York without exchange on London for a
longer period. If the war should be prolonged,
the consequent employment of foreign capital
here would be favorable to our carrying cotton;
but on the other hand the protection of hostil-
tiles, by keeping the French and German mar
kets closed against cotton and cotton goods,
would be liable to neutralize this advantage.
Upon the whole, (says the New York Bulte-
TN. q well informed authority, in an article on
this subiect,) the prospect is full of uncertain
ty, and conveys little assurance OF any recoye-
Nv in prices, while it admits of the possibility
Of a temporary further decline. But two things
appear to be certain-that the crop will exceed
that of last year by probably 100000 bales, and
that the war, whether soon ended or continued
for months, must prove seriously detrimental
To- the English and Continental trade in cotton
goods. The facts of the situation, however, do
nos justify dependency among holders of the
staple, but rather counsel judicious waiting
fDr the course of events.