New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-03-28

oo3ng -
.conosrnid s : - = 8 = -.
It is ansinsJ = 49, 100
ever before. the wlp9s World ii Ie Il
less deeply interested. Il i we'll know
that this staple forms one Of the most i'm
porsant ingtedients. In the produd q y
: class Of goods, that nsxt 10 $500!
which gives life and sustenanoe "a -
human race, is the most widely and gen
orally used product Of human industry
Prior to the late war the Southern States
furnished four-ffths of this most import
ant article Of commerce, and. therefore
this reason, if no other, makes cotton
culture q matter of national. interest.
Besides this, there are many special
reasons Why this matteshould be inter
esting to the whole country At this
particular time.
Cotton raising in the United States
began with the present century and in
creased gsadually to product in 1920 of
40 400 bales. Since that time it has
sgGaily md rapidly developed in-the fol-
1gsifSe progression: The average for ten
yeass, from 1920 to 1880, was 100. 900
bales; from 1880 to 1910 it was 100000
bales: from 1910 to 1850, over 2, 1O0, 900
bales; and from 1850 to 1860, the ten
years prior to the outbreak. Of the
war, the average reached nearly $500, 900
bales; while in the years 1859 and 1860
the production did not fall far short Of
the extraordinary figure of five millions
of bales. The price in the meantime
RAPIDLY declined from fifty cents to ten
cents pound, which latter was about the
average price prior to the year 1861: 80
that the value Of the average crop OF those
years was about one hundred and fifty mil
lions Of dollars in gold, and the large crop
years very nearly two hundred millions.
Large as these figures are in relation to the
value of the cotton crop, there have been
other crops, such as wheat, corn and hay,
that have exceeded it in actual money value.
It is not in this respect that the real impor-
lance Of the cotton crop to us is to be
estimated This consists in the fact that
70 small portion Of it is consumed at
home, and far the greater part is exported
md sold to foreign countries. In the i'm
portation of goods into our country our
wishes and wants are alone considered.
but in the matter of expectation the
wants and wishes Of Others are concerned
and as the surplus Of imports exceeds the
exports. SO Is the balance against "a,
which has TO be paid in specie tc our
creditors. If it. be large sum, this Gre
ties such drain upon Us that it causes
in the money market, reduc-
ion of prices OF al commodities and
losses all around the commercial cir
lie. If the balance is in our favor
t gives encouragement to labor,
prosperity and profits to all, and happi-
less to the country. In regard to this mat
er of exchange, or balance Of import and
Export, an anscdste is related of that mer-
liant prince of our country, A. T.
Stewart, showing how we'll he understood
his principle Of political economy
During the late war, finding that he
would be obliged to raise very large
mount Of specie to pay the duties upon
he goods which he had ordered for inn
specie or gold at the time being
bout 100, he sent his agents through the
Northern States and purchased cargo of
'utter at an average price Of fifty cents q
'ound in our currency. This he shipped
o England, sold ct handsome profit,
nd thus realized more than sufficient to
efund his investment and pay the duties
lpon his importations.
But to return to our subject, the reason
hat the cotton culture is of such great
is, that this is the only article
Which we have always been able to sell in
he foreign market, and this, too, all that
re had to spare. It b upon this COM
Modify, more than any other, that we
nay safely say depends our ability to re-
ume specie payments. For this reason
he position and prospects Of the cotton
lanters of all classes and conditions &C
uires national importance. In March,
$40, when the planters were preparing
Or the crop now in market. the price Of
his article was twenty-five cents per
'ound, while to-day tits fifteen cents-a
lecline Of some forty per cent, or nearly
'ne-half. The crops Of 1868 and 1869
lad fallen short Of the estimates made,
because Of inundations and the depreda-
ions of the cotton worm, while the ex-
in regard to India and Egypt
ad not responded to anticipaions, and
hese combined causes had kept up the
rice to twenty-five cents per pound.
The demand for the article was greater
han the supply, hence there was no de-
'ression in price. Of the crop of
asst year, and up to this time,
he receipts are about 7OO,OOO bales
n advance of the crop of 1869, and there
every prospect that the yield Of last
eason will exceed 100000 bales, and
viii be the third largest crop ever raised in
he United States. Had it not been for the
influence which the late .Franco-Prussian