The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-09
THE POSITION OF COTTON.
A .char1estonian's View of Ia Case.

CHARLESTON, May 81, 1871.
To the Editor of the New York Daily Bulletin !:
The present position Of cotton Is certainly o
very strong one, and as is often the csse' Is
not fully realized by most Of those engaged IN
the trade. There has been a constant cry oil
an oyer supply of cotton, and the mass nave
bllndfy reiterated the cry, entirely ignorant
mostly of the enormous consumption going
ON. We have all along maintained that there
was not too much cotton for the wants OF the
world. and that there was sufficient demand
to make the price rule in the neighoorhooo Of
s.d in Liverpool, aud l54 cents in Charleston
for middlings, If the truth of the consumption
was only known: and such would have been Inc
case if the idea of an over supply had not
y heen so general. This price would nave paid
the planters a fair profit and encouraged mem
to attempt the production OF another crop az
pool gave siren til to the "bears," VINO lost
Sight OF the lao that it was actually far more
dificult TO carry a stock of 600, 900 bales at lid.
per h. than one Of LOCO, 600 bales at 15o. per
H.. basis middling-althouah this iuii STOCK
did materially and righfuily effect a reduc,On
In price. But cotton has been subjected 20 an
unWarranted pressure. Prlces IN onal'essoa
n0Vp u d OWS PSAAS
season since 1861. All of The manufacturers
have been making handsome profits TINS sea
SON. and have been the only class OF ies.l!-
mate onerators who have made any profits at
all. The time has come when Inc pressure %
the consumption is being felt. People see CO..
ton advancing, but lew cieatiy hnUM mass
true reason, which is. that the world aas
not cot enough cotton at present. pilces,
and Is willing to pay higher rates. u
necessary, to secure lis supply. This lact Is
evident by an examination into the supply
and consumption as they are at present.
The stocks in Europe, apa Treat Brissln, 100 CO,
me aes sto |ss aaoat from East In
the an sIosss anOs. ii'm .uls. sss, oOo-. sos,oo
In mT halapee Of season at. $50. 600
The experts from India ana
Egypt made since 25;h'Mav,
20 arrive in Europe by 14th.
october next, estimated at 10
DER cent. increase over same 100. -, an,
period OF 1S70................ 4i'"o- oo.,o oo0
Total supply for Europe unta arrival OF 9 ~, %,
new ACKNOWLEDGEMENTS gov -
The imports into Liverpool
from lst Septemt'r, 1870, ul-
til nth MAY, 1871, and stock
on former date were..........3isl',aoz
The exports for same pellod
and stock on 1lth May Were.i'oooho"o
Showing the true consumption ,o
to have been Io'.oo.
Or an average OF about 10000
bales per. week. At this rae
ENGLAND will require for 20
weeks from goth May to IAN mn 400
october -"''''
Russia md Spain require ls,ooo Ar nm
bales per week.........E.s: s4V'osV
Balance OF Europe about 5000 , nm o7,o nm
per ,ooso
Leaving total stock IN all Europe o.e %,
Against stock on same day Of $50: ola, oE ~
when .middlirg was quoted at sHdper pouu" IL
Liverpool.
All America aud Egypt, and the Meul.
teraneau, and the export OF Inaia are arm mn
estimated ut the utmost at... bales. o,4Ve,9oo
While the consumption OF the
United States Is 10000 bales ~
per week, for one yen, say. V6S,ooo
That OF Europe is known to be
LOG, 900 per week, say for one =
- 6,4S0, DOC
Showing that the rate OF consumption
Wipar 49,
More than the utmost available supply, and