The Columbia herald. [volume] (Columbia, Tenn.) 1850-1873, 1871-03-10
Ceffss.

THE FUTURE OF COTTON PROSPECTIVE
PRICES.


|, From the Augusta lGa.) Gcnstitu.ionalist.
THE FUTURE OF COTTON N-PRosPEcTIvl
/ PRICES.
The prospect for rremmcraiive pri
ces to the cotton planter is not very
encouraging. AS the season is at han(
for pitching crops and plaL ting tn,
seed, it behooves every planter to lool
the situation steadily in the face, ani
make his calculations accordingly
Opinions differ widely as to future
prices. Our intelligent New Yorl
correspondent, Willoughby, hos cx.
pressed and reitee1ted the opinion
that during this yeSt middiing cotton
will command eighteen cents in thai
city. Per contra, . well-considcred
article, signed B. f. n, a recognized
authority, presents some statistic;
which point to low prices for long
time to come.
The crop of 1870 is assumed to be
3,S00,O00 bales. This seems mouer-
ate estimate. OF THIS, the estimated
export to Great Britain is 2,750,OCO
bales, On the question of
EUROPEAN CONSUMPTION FOR 1871.
We quote from the writer as fol-
lows: 'If we suppose every cotton
spindle in Great Britain to he employ
ed at full working time throughout
the year, and that the production is OF
heavier and coarser fabrics, to the ex-
tent of two numbers of yarn (say six
per cent.) in the average of all, the
consumption of cotton in Great Brit
ain may be increased over that of 1870
by twelve to thirteen per cent Let
us assume, then, that it shall be twelve
and half per cent. or 0ne-eighth
m ore than last year. The consump-
ton on the Continent dcfies accuracy
of computation, because of the nncer-
tainties caused by the war.
suppose peace to be made within
this month, then there will be at first
the consequent condition more or less
of stagnation. The waste or diversion
of capital and skilled labor cannot at
once be made good to cotton manu-
featuring or any other business. Com
mercial capital and credit are necessa-
ry to life and activity in manufacturing
enterprise, and these have suffered
seriously. Bankruptcies must be set
tied, credits re-established, and capital
brought back to its old channels be-
fore the restoration can be complete.
All this requires time. 1t is. there
fore, probable that, even with peace
restored this month, the consumption
of cotton on the Continent during the
first five months of 1871 will not ex-
ceed that of the last five months of
1870, and that the aggregate of the
whole year can but little exceed, if it
equal, that of 1870; for it must be re-
membered that the consumption of
cotton in France and Germany togcth-
er has been fifty-fivc TO sixty per cent.
of the whole consumption in conti-
mental Europe during the last few
years. But suppose the increase for
the Continent shall be five per cent.
Then from these premises we have for
1871 the following
STATEMENT OF WHAT CAN BE.
Stocks of cotton on hand in Eu-
ropean ports January i, lSA".- Fsl2,24o bales.
from America. .. .750. 600 bales.
India ............... $4,000
Egypt.............. 100000
Other countries
% per cent. less
than in 1Ss0...... 1u.UU -
10000 ''
Supply available...........-..-. ,s42 2io
Which, at an average of 46O lbs. each,
will be 1853, BIS, ,450 pounds.
Consumption (maxi ts. ts.
mum:
In Great Britain
121a per ct. more
than in 1S70...-... ,el2, ,9So.0l
Continent, 5 per
$50 ..................... >6Os, So, so
I.Sal, ,sls .O74