Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-03-27
FINANCE AND TRADE,
OFFICE OF THE DAILY APPEAL, I
MEMPHIS, March 25, 1871. !
THE COTTON PROSPECT.

TIE LDILON
with q crop this year of four million
bales and over, 10 may be of interest TO be
reminded, before completing our planting
for another season, at what point we are
likely to begin the next crop year. This
is the more important as some appear TO
think that ths price at which next years
crop Is to be marketed Gift reaches 40OO,-
600 bsles) viii not be 50 low as we have,
on previous reports, indicated.
As to consumption, we u remember
that Great Britain is now running at
sbout its Dreseut maximum capacity, and
it would take several months to increase
TO snv considerable extent the number OF
its Enindles. Low prices for cotton and
paving prices for goods will, without
doubt, gradually enlarge its manutactur-
ing power, but This enlargement must
necessarily be OF slow growth. Accord
ing TO the best authorities, Great Britain
is now consuming tive thousand bales per
week more than The average Of lS63-7O,
sud we would therefore allowing for any
increased manufacturing power place her
increased takings for the year, as 8 maxi
mum. a. 825 OU0 bales more than last
wear. A 20 the continent, we cannot, ia
view of the d-isOrgaDiZad state Of labor
and of the manufacturing districts OF
France and Germany, count on any con-
siderable increase, while our own con-
sumption, by reason Of % want of WaGer
the early part of the season, viii not be
much, II any, in excess Of 1859 20. Allow
ing, u1eu, the largest possible increase for
the continent snd this country the re-
msinder of the season, we see that $4,000
bales IS probably the very utmost the
spindlss Of the world can use during this
crop year more than during b previous
year.
As to the prospects CT supply from other
countries. they all appear 10 be quite IA
vorable, the only doubt that there viii b5
q large increase brought 20 market from
these sources arising out of the question
whether the low prices viii not check the
movement, Cotton, in excess Of last sea-
son. has been raised almost everywhere.
EEvpt Is fulfilling her early promises OF an
enlarged weld. India had 4 considerable
surnlus left over from last crop, and is
harvesting q better ne. Brazil and other
minor sources are not, from present ap-
p-ssrsnces, likely 10 make any change in
their contribution TO the total supply,
while China cas- raised so much herself
she VIII want much less d a heretofore
from India. That these are facts, is now
admitted on all sides. There is consider
abe doubt, however, when, under the
influence OF present prices, the India cot
ton viii come TO market. But we think
e is becoming evident, even If there is de-
Jay in the movement from Bombay, which
is very likely, That sdll the worlds sup
rTv from all sources other than America
VIII at least equal last years supply.
The conclusion from these facts would
euDear TO be that the balance Of va pres
emf C-0p can probably be marketed at
about the prices now ruling, with perhaps
some IJ-le Improvement IN the early sum
months, unless during the later
EurIug and early summer months the
for che next yield should be
equal 10 the last; but with another plant
ing like the last we must be willing TO sc-
cepU lower prices,