The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1870-11-23


per bale, yielding some sixty millions
less than the smaller crop Of 1869.
While the supply grew moderately,
stocks declined, the demand in
Europe Increased, and the consump-
ton increased at the rate Of three to
four hundred thousand bales a year.
Ii our planters had been content to
increase their planting but ten per
cent. a year. they might have kept
India where she is, they might have
sustained prices and supplied the in
ereasing wants of Europe, but they
forgot that it was the last straw that
broke the back of the camel; they
forgot that England paid two prices
for half a crop in ga, and much less
than a fair price for the crop of go.
Abandoning breadstufs and other
substitutes for cotton, they have
thrown away their extra labor and
outlay, have to buy their -four and
provisions, and have diminished the
value Of their crop at least fifty mil
lions of dollars,
They will be out of pocket for the
money they pay for the last six hun
dred thousand bales, both for culti-
walton, bales, freight and pressing,
beside the loss on the residue OF their
crop. They have lost the substance
while clutching at the shadow. For
tUnately, tor the country, an increase
In our exports from two million two
hundred thousand to three million
bales, will, if the price does not fall
below fifteen, and we go back to gold
cover the greater part Of its loss ia
foreign commerce, but az Re ship
nearly three fourths Of eur crop to
Europe, foreigners gain and the coun4
try loses by our bountiful haryeSA
The history of the past tea years e
full OF instruction. It shows To-. No
other country successfully cr,mnetes
with US n cotton, and that we nav
supply beth America and Europe
With three-ftths of the amount thew
consume to-day and the whole growth
OF tEls consumption, and maintain the
price at or near twenty cents a pound
In currency or eighteen cents in cold.
IN our chief seaports, if we progress
80
Egypt, Brazil and the West Indies
10 the South, as we'll as India. China
and Japan in the East, have together
shipped less since 81 than they did in
OF: AT recent rates, Brazil will find
co11ee and Egypt corn most proftab
Europe and America consume 80
six millions of bales. AO~ Spou'
nishes four million. J. ~rlca TUT
million TO milliOD Ida from
and all other o. and quarSe'
million Of bali antries less tho q
size. In 49, ;, of less than avs-rae
1undFa' "a, from sixty to sT-ty-tW
10 b, = Thousand bales, just enoug
: leak down the market Ia disal
-fous year.
The trade Of France and German
is checked for three or four moAth
perhaps to the extent of two hHndre
thousand bales, or less than the IL
crease Of a year, and down go price
and the fall is thirty to forty dollar
per bale.
Is the loss to the country irremed
able; is it wise for America to Civ
away fifty to eighty millions a yea
when she has no rival that compete
with her2
When cotton rises too fast in Ems
land the Bank Of England, doubles
on hint from the Board of Trad
puts on the screws at the opportun
moment and screws down prices.
We must adopt another remed,
We need not burn our cotton, as th
Dutch did their surplus nutmegs-W
do not reqire so harsh q remedy. IL
our planters hold conventions In eac
district of the cotton States and vol
to reduce their planting twenty pr
cent. from last year and apply a fit
of their land and force to other Pre-
ducts, and carry out their resolution
Then send delegates to a general CON
mittee of the cotton States, and repol
those who fail to conform to their rel
olutions.
Of course some will not conform
DEGREES which can be enforced b
public opinion only. Very many vii
and reduction of ten per cent. o
production will restore values.
1t is easy to demonstrate that th
diversion viii not only raise the valu
of the crop actually produced moi
than twice ale amount of the redut
ton, hUs when applied to other pre-
ductS-7iee. sugar, corn, wheat, -
and 0ats-Will furnish a larO -,
Of those products, vir' IL A nnSt;,
nothing. A divers 20 co o,a
the true policy, Doth Of - The s%n1H =,
of the natieo. '"e 0'U'" :
A tne n4aAter will hold back lit
snu not press his pre- sent stock I
Iast upon the marke'.. and wiIl eviu
determination roduce Dlanti
the coming seq son he nav even n
arrest the deef me If prioes'
q II WAT ' Ill probably be confn
n - h-5bI and Germany, and will
PLOV reduce their consumption
6oio S red and twenty i've thousa
I ISl a month, more than fourth,
SesS than a fourth of their operati'
se taken the field, and var uses
lothing.
There is also another encourage
aspect ofthe case. Although we hs
: In the last fiscal year increased
D exports of cotton more than sev
/ hundred thousand bales, such
been the growth of consumption a
{ diminution of supply from other gu
{ tiers, that the visible supply was
D the last of October tWenty-seN
{ thousand bales less than it was at
G same date last year, so that it is |
e parent that if for two years past
!, had increased our crops but ten |
: cent, a year, instead of twenty five j
D cent. there would have been a gu
e demand for our great staple at
= prices. This view of the subjec
confirmed by the fact that the arriv
A.
{ Europe has fallen off last year
: hundred and ninety thousand bal
: For the future the South must
true to its own interests, or it v
g succumb, not to failure of crops, b
!, with the best soil. climate and fac
e ties, TO over production.
i TELEGRAPHI(