Wilmington journal., 1871-01-13
From the Baltimore Sun
The Depression In Cotton.

december 0UtnS lOIU
From the Baltimore Sun.
The Depression In Cotton.
The reduction in the price of cotton is
a considerable drawback TO the advan-
tages of an increased supply. 4here has
been, however q remarkable falling off
recently in the receipts, owing to unfavora-
BILE weather for picking at the South. Cot
ton is now worth only about $50 per bale;
last year it brought $l10 to $12O per bale
at this season OF the year. SO that, while
our receipts for The current year are
quarter of O million bales in excess OF last
year, at a reduction of from 8 to 10 cents
per pound, the South will not realize by
$50, 600, 900 as much money. This must
make great difference in the financial
strength of the cottOn-plantlng interests,
as they agree in the opinion that the pres
ent price does not cover the cost of pro-
duction. This state of affairs must neces-
sarily restrict the far Southern trade con-
siderablv, a5 planters will be forced to re-
strict their purchases to bare necessities.
There can be little doubt that the produc-
tion of cotton this year will be largely in
excess of the worlds demand. as we can
see no evidence that Great Britain will
take as much as she did last year, and we
are almost certain TO lose one-haf of the
w
has given the most careful attention to
this subject, and who has The best and
most reliable sources of Information, says:
Coming down to particulars, we find
that the effect Of the war upon cotton and
cotton manufacture has been to almost en-
tirely stop the British export to two of
the chief European markets of yarn and
goods, the total annual export of which
for the last few years has been over thirty
mil
yards of cloth. The expectation OF raw
cotton also to the continent of Europe
from Liverpool and the American ports
has greatly minishcd, and III place of it
a reverse movement has to some extent
taken place, $50 600 bales of cotton in
store at HavIe, France, for the use Of
French manufacturers, having been main
| ly reehipped to Liverpool. The diminish
ed consumption of raw cotton on the con.
! tinent for the year. In consequence OF the
war, is variously estimated at from 300 00(
to 10000 bales. Under such circumstan-
ces, with an increase of product in the
| United States and an average crop III In
dia, the price of law cotton has since mid
summer steadily tended downward, oc
casiOning to the producers III the United
States a loss which is likely 10 far more
| than Offset any realized or prospective
gains TO the country from any increased
demand for breadstuffs and provisions.
Washington Correspondent n. Y. Herald.
Radical Projects for Additional Recon
structIon.
| The leading members of the Republican
party have for some time past manifested
considerable anxiety as to the part the
! Southern States will play in the uext
| Presidential election. 1t is generally con
ceded that in the present condition of af-
| fairs there the Democrats are certain t.
carry every State south of the ancien
| Mason and Dixon's line, except, perhaps
South Carolina. THE is a disappointment
to those who have been engaged in recon
structing the Southern States in the inter
est of the Republican party. and th" ques
ton now is how TO bring them back anC
keep them under the Republican banner
Just before the holiday recess Senator
Morton introduced a resolution calling
upon the President for information
concerning the recent disturbances
in North Carolina and other States
where it is alleged the laws Of the
United States have been defeG
and resisted. This resolution was so word
ed as to allow the answer to embrace al
the Southern States. 1t is understood tha
some time this week the answer to the res
Olution will be sent to the Senate. This ii
Southern States which it has been stated
the President would send to Congress-
This answer from the Executive will show
that the Southern people are far from
being in condition to deserve or appre-
ciate amnesty. It will further show that I
feeling of opposition to the Governmen
exists which has not been equalled sine
the close of the rebellion. This informa
ton will probably be made to serve tw'
purposes-first, to silence those who ar
g demanding general amnesty, and second
to afford an excuse for something like
fresh reconstruction of the Southern
States The Presidents reply will iikel
be referred to special committee, whicl
will be instructed to investigate the fact
! and report what legislation is necessary t
secure the enforcement of the laws an
the protection of life and property. |
the meantime several prominent Republ
cans from the South are here and other
, are expected to cooperate with the recon
structionists in Congress.