The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1870-09-19

of bankrupt estates they did not relieve sse COZ
ton interest generally from the BURDEN W . neaJ
loss. me Improvement. 1owever, was, e1sa,es eHa
and more rapid than any one had eXpeeIei' aas ano
fears were expressed tnst tue p0':.s ''..N
aesaa eooona,s!SS eooos onr market turn chiefly upon
ne tsnration of the war on the Oontlnent, aaa ~
10 .nnossibIe for any one 10 forecast lcs COURSE.
NJ nrsSaifinp impresslon IA this country IS tnat
!. .ue spl n Se short one, and rhatrhe Germans 81
lre y averpowertng NJ weight OF their armies and eA-
csi,ent arganlzafion will Sorce the French TO sue
o1r1b and sue Tor peace. There Is no douot tlsG
the tide Of war has hitherto run strongly IN tnen
favor, and 1t would not surprise any one 10 near
or further German victories, which woRla orlne
their conquering armies to Paris; and IL seems oy
no m cans. improbable that they Will dlctate .
peace at the French capital.
On the other hand, IL must be remembered tiaC
time Is working In favor Of the French; they are
s1renuously applying themselves to ralse lLesn
forces, and will soon have armies on !oot "nien ,,cn
may be able to cope with the Germans; II 1s, eney
can only keep them at bay for rev weeks, anu
therefore II any serious reverse oeleii lne oe,
man arms, the aspect Of the war Wou.u eulIeT
change There seems little dorot tnat Tue ePs Phat
Of the French people Is fully rousea; ae se
they win make gigantic efforts 10 expe! .ne ln'a .,
dera and there does noc seem as YET any sigh VI "
a wish or Intention to treat TOT peace. we leal u
that settlement is further on tnan most peopie
th,nS and unless the Germans gain decisive sue,
caus IN the next few weeks, ne will be prepared
for contic ued and Increasingly bloody war. u
is strongly to be hoped however, that the neutral
nations OF Europe will bring combined pressure
70 bear upon tine 16a
comes from that quarter. There seems no dispo-
sition among any Of the neutrals TO take sides,
and the general feeling Is one OF sadness at the
horrible butchery that is going on.
It is obvious to any one that prolonged war
win ruin both countries; for the scale upon when
armies are now kept up, and the aeaoiy naIule " "
modern arms, make the havoc far greater than IA
AlryS
sense OF common humanity, not to speak OF tne
claims OF the Christian religion, will lead TO some
plan OF settlement and we hope that tnrougn tae
friendly intervention Of the neutral powers,
NOT by the exhaustion OF one OF the combatants,
way of settling this deplorable quarrel may De
found ere long. We confess, however, that we
are not too sangune and 1t is wei TO bear IN mind
dreadful war, and also the risk that its area may
be extended.
Turning 10 the supply Of cotton available for
this year, the position OF the market appears
sound, even with the continuance. Of the war
We annex statement giving an estimate OF sup
plv for Great Britain TO 3ist December, as COM
pared with last year, and 1t seems that We have
scarcely SO much cotton to work upon: the total
supple is 1,62o, 900 bales, against 1,6i1,ooo last
year. Allowing the consumption, as supplied
from Liverpool and London, to be So 600 bales per
week till the end OF the year, against 600 bales
same time last year ana the exports 10 oe lsGSS
with total stock IN both ports OF 100000 oaiss,
against 400, 900 bales last gear.
When we consider that the average price OF
middliEg Orleans in the last four months OF 1859
was 1870 per pound, and OF fair Dhollerah e3sd
per pound, Cur present values OF 9i4d and il4d
appear ,Gerate. o. course circumstances IN
other respects are very different. We had then
terrible connagration going on almost within.
sight OF our shores. Then We had no lndea tha5
America could grow so much cotton. The lavo
rite estimate at this time last year was 1900, GOO
fha Strac g "a mr.
bales and the general expectation is tina! the
next crop will exceed lie last. We think these
circumstances quite account for this reduction In
price, but they do not !stIy any further fall, for
we cannot In any case have more than mode
rate supply 20 the end OF this year, and il there
should be an early peace our supply would scarce
j. be sufficient. Oar stock OF American, in par.
ticnlar. mus: run very low, and it is probable
dnd /: very difncul. 10 supply themselves with
the better grades.
Looking further ahead luto mex: year, however.
he prospect again changes, We continue to re
,eive very favorable accounts OF the progress Of
he growing crop In America, and public opinion
n that country is settling down upon three and
q , ...''lions as probable for next year. or course
his his presippcs-e favorable picking season, and
may be mug, gnaaeea Ss spe to6
or next year is one Of ahundaGc:: cotton sino!Y: |
nd should this unhappy war continue. England
vii receive much more than ner usual snare OF
he crop: for the requirements OF Tue continent
Fill be much less. Indeed. it might easily hap
en that we had g:at, OF cotton, as in large Greg
ears before the American Var.
Should peace be speedily restored, this Prospect
y0uld be somewhat altered; but even then the
rade and consuming power OF the continent |
you'd be crpp ed especially tha; of France; for
bet cnnntry before the corruption OF the empire |
: swept away. with this outlook ahead. 1t will
,e unsafe for our market to advance much during
ne next few months; and II seems more ike!y
hat prices will remain about their present level.