Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-04-16
THE COTTON OUTLOOK.

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The receipts of cotton at the ports con-
tinue large for the season. This is espe-
cially the case at New Orleans, where the
receipts amount to nearly one-half the
total received at all ports. The receipts
from the commencement of the cotton
year, stand about thirty-two per cent
above those of the corresponding period
of 1869. The highest price of the sea-
son in the New York market was thirty
five cents for middling uplands, in the
early part of September, from which ii
gradually declined to twenty-one and q
quarter under the heavy fall in the price
of gold. From that point there has been
a recovery of about two cents, sales hay
ing been made few days ago at twenty
three and half, but the latest sales show
decline of half a cent, the closing quo
tation on the 14th inst being twenty
three cents. The New York Shipping
List says the market during the last fort
night has derived considerable firmness
from the unexpected strong tone at Liv-
erpool, which appears to have resulted
from the tardy arrivals of the Indian sta
pie, and moderate stocks. AS to the
course of prices during the next few
months, there is, as usual, a diversity of
views, though the popular opinion seems
to be that, uatil there shall be full years
supply, and a considerable augmentation
of reserve to carry over to the beginning
of another year, for all the manufactur-
ing world, a material permanent decline
is not probable. Much, however, will
depend upon the condition of industries,
now at rather low ebb on both sides of
the Atlantic.
The planting season at the South is now
at hand, and there is every indication that
an increased breadth of land will be
planted, under the stimulus of good
prices. The cost of producing cotton
under the present system, in the hands of
good managing planters, it is said, does
not exceed fifteen cents per pound; many
of them, in a successful crop like this
one, make it for twelve cents, including
interest of their investment, at current
value. As price equal to twenty cents
leaves a profit beyond that afforded by
any other branch of agricultural industry,
the Southern planters will be very apt to
exert themselves to the utmost to get in
large area.
Meanwhile, the English cotton manu-
facturers are making the most persistent
efforts to increase the supply in British
India, in order to successfully compete
with the United States. The maximum
exporting power of India with high pri-
ces, is stated, by leading English au-
thority, at /, 900, 900 bales; but now that
the impediments which have for seven or
eight years stood between the foreign
spinner and his normal source of supply
are gradually being removed, point has
probably been reached, from which the
Indian culture will retrograde, for it is
conceded fact, that under a moderate
scale of prices that country cannot COM
pete. As to quality, it is simply physi-
cal impossibility for the Indian cultivator
to grow cotton at all comparable with
ours. The Indian staple is invariably |
short, harsh and troublesome in the pro-
cesses of machinery. This is the indi-
genous sort. Attempts have been made |
10 obviate the stubborn difficulty,
by the importation and naturalization |
Of American seed. Even then the |
product, though superior TO the ma
tive one, is largely behind that in our
Southern States. In the second year this |
degeneracy increases, and soon the growth |
is as unacceptable as the Surat. In fact,
foreign manufacturers have no reliable re-
source but this country. The dependence |
may be calling, but it is unavoidable.
Onr climate and soil are fitted by nature |
to produce that peculiar variety of raw
material, which cannot be dispensed with
in textile fabrics used for wearing appa-
rel. All this has long been known, and
if we nov allude to facts so patent, it is
because of the renewed efforts in a COM
paratively hopeless rivalry. We shall not
only reach the 01ate-beIL1tne production of
cotton, within very few years, but the
English spinners will not unlikely experi-
ence an additional shock from the trans
fer of British machinery and operatives TO
American soil, where the conditions for
manufacturing are superior to any other
part of the world. Mr.. Cobden's signif-
cant utterance that British-Indo 'scotton-
growers must be prepared for a revival of
American industry, and the competition
of the world" is now in fair way for a
full realization.
From the reports of the Liverpool Get I
ton Brokers' Association, which are pre-
pared with care and their results correc
ted from time to time by actual count of
stock, we learn the actual quantity of