Vicksburg weekly herald. (Vicksburg, Miss.) 1868-1883, 1870-06-04
THE WEEKLY HERALD,
WEEKLY COMMERCIAL AND
FINANCIAL REVIEW.
OFFICE o. THE vIcEslgRd HERALD, !

OIPtcE o. q FtcEsHuRG HRRALD,
June 5, 1870.
Business holds up well In spite
OF the lateness Of the season, but
Of course the general situation Is
one q dullness. Looking ahead to
the fall trade from the present
stand point the prospect Is encour.
aging. We have confidence In the
prophecy that the next seasons
business will prove not only large
but highly remunerative. Such
opinion Is based upon present indi.
cations, there ia but one Eye
which infallibly reads tho mys.
tic future, and thus 1t may
chance that unexpected matters
will upset the most sanguine calcu.
lation. But certainly the business
OF our city Is becoming firmly fixed
upon O solid and we believe endur.
ing foundation. More care aud
q more thorough cultivation 10 be-
ing given to farms and to crops
while the item of stock for farm
purposes is somewhat approximat-
ing its proper merit in the estima.
ton Of our people, There is much
yet to wish for 10 these particulars.
The prosperity of our city comes
of the country which surrounds Il,
and therefore, we should en-.
courage and foster oil that
which tends to the develop
ment Of our farms and the manner
and success Of their cultivation.
Even with q good crop for the
coming season q remunerative
price for cotton may be looked for.
When II Is considered that cur
rency has advanced in value, gen.
erAl aud plantation supplies de-.
creased and that, as labor must be
less, cotton eau be made at
a less cost II would seem that
eighteen or even fifteen cents per
pound would "pay" the planter.
And the demand for the staple Il
increasing. Fol-. instance the fol.
lowing from the New York Ship.
ping List.
REVIVAL OF EEGLIsH CoTroN
SPINNING.-The Cotton Spinning
industry of England, which has
\been in q depressed and altogether
unsatisfactory condition since the
panic Of 1885, Is slowly but surely
Teviving. This Is shown BY the
enormous increase Of consumption,
together with the gain in the ex-
ports Of goods and yarns to India
and China. Notwithstanding the
increased supply Of the raw staple
from this country, the price has
been kept up, and the value Of
manufactures exported during the
first three months Of the year reach
ed f40,0O0.ON, or q gain of G4,0O0,-
900 over the corresponding period
Of 1865. English manufacturers,
1t is said, are now very generally
working at a moderate profit, and
all apprehensions of q future dearth
of supply have passed away. The
imports Of cotton into the United
Kingdom from all sources, during
the first quarter Of the current
year, reached 22jj 093 cwt., show
ing an increase OF about twenty
two per cent. over the correspond
ing period Of last year. OF this
quantity, the United States Is cred.
tied with sixty-six per cent, Egypt
fourteen. India eight, Brazil! seven,
China three, Turkey one, and all
other countries one. With the re-
vival Of English Cotton Spinning,
we may safely look for q speedy re.
vival of the same branch Of industry
on this side OF the Atlantic, since
the business affairs of the two
countries are so intimately con.
nected that what affects one is pref.
~ certain 10 affect the other, In a
greater or less degree. England
has one important advantage over
US, in a settled fiscal policy, but as
an Offset, we have the greater ad-
vantage ofhaving an abundance OF
raw materials at our own doors,
while business with US must soon
emerge from its present state OF
suspense, cease 10 be at the mercy
of an arbitrary and capricious cur
rency, and normal basis, where
prices will be both steadier and
cheaper, aud consequently more ia
vorable, both TO manufacturers and
to the consuming millions, who al
ways have more to dread from a
currency which may be at once nu-
morally TOO much aud really too
little.
The complaint, ever since the
cotton supply in this county was
abridged, has been that the staple
Of all received from India, Egypt,
Brazil, and other places, Is of infe-
rior quality. Therefore, the textile
fabric manufactured from that class
of cotton Is also inferior. The great
natural source Of supply, then, is
our Southern States, and If we can
meet the growing demand by COM
bined force of labor and money, we
may expect to see a crop, two or
three years hence, equal IN Quanti-
ty to any yet produced, for the i'm
mensc resources of the South have
never been fairly developed.-(N.
Y. Shipping List.
The following from the New Dr.
leans Price Current gives the latest
total cotton report Receipts 2,677,-
Dos bales; excess over last year
73l, 7Sl. Foreign exports 1923, 436
bales; domestic exports 753,S26
bales. Overland 272,05S bales. This
does not include overland ship.
ments.
The United States Economist Of
New York, says Ofthe spring trade :
A review of the spring trade
shows that on the whole It was
morn aatiefaoiory than waa antici-