Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1870-10-24
COTTON STATEMENT.


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The New Orleans Bulletin exults some
what over the prospect of securing the
entire trade from the Arkansas river,
and says;
prior to the late war the trade of the
Arkansas valley was enjoyed almost ex-
clusively by the merchants of this city.
Many causes, amongst others interrupted
communication from 1861 TO 1865,
diverted it to Memphis, Louisville and
other Western cities Last year an effort
was made to regain this trade (which is
with each succeeding year growing more
incurative) and proved partially success
full, so much so as to lead US to believe
that the bulk Of the present cotton crop
of that region, will this season be shipped
direct to this city. To accomplish this,
however, requires actiGn on the part of
our merchants, and the best policy for
them TO pursue will be TO patronize
through boats, aud not send freight to
points on the Mississippi to be reshipped
by the Arkansas river and Memphis
packets.
Regarding the crop prospects the New
Orleans Times says:
I'VE are agere that no little stress is
laid upon the disqualification Of the ne
groes by political gatherings, but we
leave this merely as an offset for similar
evils last year. More Importance should
be attached t9 tbeir pnRillingpess when
working or shares, and when they have
already received advances to the tnll
value OF the crop they can probably
b ha "a
circumstances, to persevere in picking,
with no other inducement than to pay a
debt, and without the prospect of any
further remuneration. At this time last
yeag cotton was worth lOlc per pound
# %SsS I i s se sirsiIf ps t seE'
to be more careful and thorough titan
when it is worth only l4c The
Weld will undoubtedly be materially
diminished by this cause. To what ex
tent Il is difficult 10 say. 1t may ba cpl
off only $4,000 bales, or it may be cur
tailed enough to neutralize the increase
in acreage, When the crop statement is
made up next septembeF, the AMOUNT
may be correctly estimated, hut hardly
before. We have nothing left, then, to
consider but the weather. But last
year increased product was osssa , ,,,,s
by fine weather. up to the middle of
October, than by continuance of it
through November and December. The
result mainly depends upon the next
two months. If the weather continue
as line as last year we may undoubtedly
expect as much as then, plus ten per
cent. in acreage and minus more INSULT
oient and more inefficient labor II, on
the contrary, We have only an average
season, proper deduction should be
made. The changes include qnilter-
rupted fine weather on the one hand,
and freeze and transforms ON the
other An impartial judgment seems to
point to an average season, and such,
together with a failure to perseyere
among the negro laborers, must neutral
ize the increase in acreage, and throw
us back upon an available crop of 3,063,-
223 bales, or no less than 436,777 bales
less than Messrs Clews & Co. S minimum
of 100000. Such, at least, are the
probabilities before us"
The Shipping List says:
''The war has greatly .lessened the con-
sumption on the Continent and the
withdrawal from peaceful pursuits of
several millions Of men in France and
Prussia has also lessened the power to
purchase goods in those countries, with
the consequence of marked decline in
the price Of the raw staple, which is now
worth some hye cents per pound less
than it was ninety days ago. In the
event of a substantial advance in bread
stuffs, another element of depression will
be added to the market for this staple, as
dear bread almost invariably means
cheap cotton Already, it is claimed,
the staple is down about as low as It can
be produced with profit, under existing
conditions, and should it go much lower
a serious blow will be inflicted upon the
South. The actual cost Of producing
cotton on the best alluvial soils, in 2
good season. and with close management,
has been recently estimated by competent
authorities at Toe per pound. But on
average upland, and with average
economy, the planter loses who does not
receive l5c., which is only about one
half cent below the eurreRt price for
adding staple. The recent course Of
The market aptly illustrates the fnlly Of
relying so largely upon a single industry
AZ the South has done. Instead Of re-
living almost wholly upon cotton, that
section should at least raise food enough
to subsist its own population. We sin
cerely trust there may be no serious
check to Southern prosperity, and that
the low price Of the cnrrent year viii