Vicksburg weekly herald., 1870-08-13
WEEKLY con- UERCIAL AND
FINANCIAL REVIEW.
OFFICE or THE ylcEsD 10 HERALD,

IN price IN Europe, without snow
ing a proportional increase IN this
country. EyeA with the large crop
Of last year, the quantity is nearly,
absorbed, and the new crop will
not be in any too soon. Southern
estimates of the crop go very little
above three million bales, while
Northern estimates reach as high
as four millions bales. II can
hardly he expected, in view Of
drought, excessive rains, worms,
&c, that the crop will be larger
than last year, aud if so, prices
should average but little less than
for the crop OF lS69-70.
The crop presents less than an
average prospect.
The future OF cotton Is q mat
ter Of considerable importance TO
our people just now.
The opinion Of some Of the
Southern newspapers that the
production of larger amount of
cotton for the year lS69-70 over the
preceding year would create a glut
In The market and a consequent loss
to the growers, does not appear to
have been well founded. The ex-
cess Of cotton receipts at the South
ern ports the present winter over
those of a corresponding date last
winter, and the disposal OF 1t at
prices averaging in gold value not
materially from those brought by
the previous crop, added to the fact
that the crop of 1869 will not ex-
ceed that OF 1868 to the extent of
twenty-five per cent. 1--WE take the
figures OF the New Orleans Bulle-
tin, } must be disconcertlng to those
who may have based their action
upon such q theory.
Cotton production has never yet
exceeded the demand, and to make
a correct estimate of what the next
years demand may be, must de-
pend upon and be influenced by
causes which, If not taken into
consideration in forming a judg.
ment, will render such information
Of little practical use. The worlds
demand for cotton really appears IL
limitable, while the price is kept
within reasonable figures. Latent
forms OF demand and the charging
the circle OF consumption appear
to have always kept up with AMI
exceeded the supply. 1t is contin.
ually taking the place of products
that have hitherto enjoyed the me-
nopoly in certain manufactures. In
the manufacture of undcrclothing
il has nearly entirely superseded
linen. Where thirty years back a
dozen people used the latter fabric,
scarcely one Is to be found now.
And so with other fabrics.
From statistics of the British
Board of Trade and other sources
considered equally reliable, il is
stated the supply of the world,
based on last years production,
may be laid down at 6,O9G, ,0JO bales
Of 400 pounds each, which is dis
tributed as follows: From America,
100000; India, 100000; Egypt,
2l0 600; Brazil, 272,000; other coun-
tries, $4,000. The same authori-
ties place the consumption of the
world as follows: Great Britain,
2,490000 bales of 400 pounds !;
France, 100000; Germany, 10000 /;
Russia, 250000; Holland, HOOD;
Spain, 10000; Belgium, 10000; !;
Italy, 100000; United States, l,0SO,-
900; India, $4,000; China (lndia
cotton) $4,000 This gives the
total of production at 6,l0j0O0
bales, which is something under the
estimated demand.
In these figures ii is esmated that
at present there are no ground, Of
fearing glut of cotton, and that
the world is capable Of absorbing
all that crn be produced And
there can be as little doubt that il
will be able to absorb any future
increase in the supply. There is
not only the enlarged demand con-
, sequent on the increase Of the
+ worlds population, but there are
millions of people yet to whom cot
ton is but little known owing to
the cost of transport and other
causes. As the iron horse pushes
Its way into these but partially de-
veloped regions, q deman for this
important textile will spring up
aud will increase, US its usefulness
and adaptability become difIused.
The Boston Journal of the 10Th
ultimo. gives the following as to the
future OF cotton:
, The first fact that presents itself
Is this, that nearly all our crop has
gone forward, and although our eX-
, cess of exports will be eight hum
dred thousand bales, and the crop OF
India, later than usual, has felt the
impulse of the Canal, the excess
over last year in visible supply Is
: but two hundred and seventy thou
: sand bales. Our last crop began to
reach the mills of Europe about the
first of November, and now, by the
lst of July. in two.thirds of year,
| two-thirds of our excess of exports
Of cotton has been absorbed. For
four months to come very few bales
will reach Europe from our plan
, ters, and we may well anticipate
that In those four months, the re-
: naming third of the year, most Of
the other third of the excess from
America will be absorbed by con-
l sumption.
1t estimates the deficiency in
India cotton at $4,000 bales, and
says it is probable If Indian cotton
: does not advance beyond their pres.
|, ent price (six and seven pence) dur.
ing August that It will inevitably