Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-02-28

get the grONn crop into the market;
we see the roads blocked up with cot
ton. all ready to be shipped; we see
Wagon-trains crOwding along both
WAYS, all ways, every way, to get it
to market; and we see this vast coun-
try being filed up with emigrants
from all parts of this world, ana
everybody, including emigrants, have
got cotton on the brain! The New
Orleans man says 2,150,OOO lor
a crop. and means 3,750,000.
The New York man knows
from his standpoint much nearer
to a correct estimate of the crop than
any man in the South, and the New
York estimate is, and has been all the
season 5000, 900 and upward. And now
we are realizing what such a crop
means for the prOdUcer-it means zoe
for middiing in New York! and as
surea as we are above you now in altl-
tude, lust so sure will the crop be
3,75O,00 and just so sure will zoe rule
for middling in New York, and why
should il not? With gold going down
steadily to par, why should not all
merchandise change its value? l can,
up in this rigid air, hear the argu-
ments in favor of high prices in cot
ton. Here sits a man Of brains; by
him Law circulars from all 1.-THE cOnsum-
ing countries, and he can demonstrate
ION paper how it can go down. lie
knows what he's about. In rushes a
spinneri SELL! SELL! I'll buy at
25c all you've got. mo! l am not
selling at these low prices" In comes
the same buyeri again! later! I'll
give YOU 23c for the same IOffeTed you
the > on this morning.! No! Is the
same reply. l won't sell; and SO on
| to the end; and it will result disas-
trously for the man Of brains this
wear. if il never did before. "What
do you think of cOttOn?" askes n OF
another. "Well, 1 think it is going
up" "What makes you think sop
asks he again. swell, l kinder feel
it in my bones" We ind
this is a prevailing trouble
with all the sellers in Memphis, and
up here we knoW everything, and this
feeling in the bones is very unreliable
and improbable also, as many OF our
Memphis small fry, small margin
spectators, know. We don't mea
any disrespect, you know; but as our
old friend Bunsby says, facts, and we
can't go behind them
Weup here feel very sorry for you
poor blind mOrtals for thinking for a
moment that cotton is low at the now
ruling price. I reach oyer the edgeot
our a attached to our balloon and L
shake a warning finger to you men
who only hold cotton because you feel
il in YOUR bones. / shake a warning
finger to o who think that the crop
will be less than 3,T50,OO0, and l also
shake q finger at you men with brains
who read and believe all a foreign cir
cuIar says, and make fortunes on pa
DER only. Figures lie Oftener than
facts. Look the thing in the lace, and
be matted on the back by an old friend
d. NOMINAL.
In reply to the above article, we
give the following facts, WhIch,
though they actually present q
bad outlook for the future OF
cotton, by no means place II IN
the position assumed by ID. NGml-
nal" whom we must look upon as
a bear Of the grizzly species.
The cotton crop of the present sea
son will aggregate a much larger num-
Der Of bales than were the highest eS-
Inmates of statisticians at the opening OF
the year. The gross Xces OF receipts
at this date over those Of the same
time last year are already $4,000
bales, with fair prospects Of increasing
the excess before the close OF the COM
mercial year to 100000, calculating
last years crop at 2,260,O0O (the New
York Shining lists statement),
would give q total yield this season OF
over 2.SJ0,00 bales. The excess OF re-
ceipts at New Orleans is 49,, 1000 bales;
at Mobile, S 5000; at savannah, ll4,GOe;
at Charleston, 5000; at the Texas
ports. 10000; at New York overland,
l7,OO0; the Virginia ports, 1900; ana
at Memphis, over 1910 o bales.
There, are numerous causes Tor this
increase in Ire expected yield. Inc
continuance of clear dry weather dur
ing autumn and early winter In al
portions Ofthe Southern cotton region,
enabled planters TO keep every avail
able hand at work in the fields gath
ering and saving the crop, which hne
weather had tended to mature and
largely increase beyond the highest
anticipation of growers. The Only
fear entertained was, that the scarcity
of labor would prove inadequate TO
the task of saving the crop and the
additional incentive of extra wages,
with prospects Of large profits Dy
hands directly interested, induced
more than usual industry and eXer-
ton OF the part Of field laborer5.
Until after the Christmas holidays
there was little or no falling weather,
and but little ginning was done. Gins
had been stopped after a few bales OF
the earliest openings were forwarded
| TO market: sent in to relieve the o
| pressing financial wants Of the planter
and not until late in January was the
| white heecy staple cleared from the
| fields. These are among the causes
which have increased the anticipated
| WELD from $4,000 o bales TO a proba-
| HE AGGREGATE of $3.50, GOO or 3,000,O 600
which a majority Of New York VII
tiers and operators set down as the
total yield for 1853 and ~.
It is a noted fact that the quality OF
| this wears growth has been better than
! hat of former seasons. Early pick
! mos were free hOm.stain, trash or DIRT,
while the body was heavy end the
| color beautiful. Superior classification
was the result, and, until mldWlnUer,
American spinners who had generally
short stocks, We're enabled 70 obtain
and replenish supplies from the supe-
rior grades. Orders for grades below
Middlings were difficult to execute in
this market as late as the middle OF
December.
The same ratio OF increase as has
governed previous receipts would
make thu excess from this time out to
the close of September 12O, 900 more,
and dive an aggregate Of 2~,SJO,OOO, but
If may be safely calculated that the
excess will be propOrtionately greater,
a. cotton has accumulated at all the
river landings and railroad stations,
while rin-houses in the interior are III
nreparing the crop for market. Plant
ers in the early part Of the season
we're Indifferent about selling thelI
cotton. being stimulated to hold on 10y
tbe experience of last year, when
prices gradually advanced from the
bolidavs to the close of the year