The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1871-11-04

.i''t91 rIITOyT :, 2 TT!IT 5TTf ITT;-TTT
.tUHANHEsl Is sHa QoTToHs sTaApRs4- Con,
3FaQtsi fe3bthe .tnt1tA txieiivesy ,oi staplt
s4noQoek ma we're ArStSmaSie: soon iAitei
o!ge yars OF NaRoieptS ct 6tetsin, On 1.-THE
e&3s!Nes t!aTs.S artialsh dealt ih,were grain
and FapeseAd oil u. This nethodof doing
SSa3RQalnessi WAS ,suE9estedlb1 the imilitsry
contracts ofsthe French. oocu upatioD, ,tan.i
eAE the stObkI transactions ot-London, and
cRaris.I The merchants Of Bremeni and
Hamburg adopted the contract system
aas aoon nsaai1telegraphic Communication
WAssopane ed.pnt the tcontinenty and when
England joined the continental system
ib3sHpb bmastne, cable thu Gefmann merI
4ehAats IRb.;L Ldyerpuol, adopted the l:.hrm
,pfsr nmekhVd in. their hourly trausao-
N9nHnWithshs continent. agents were
sPlaceaip, tho principal cotton :apiuninR
districts. and to them these .'irm offers
were made. "a 10 eadi a9- q r55ib
!s4hef chalgesJ ina the rsicei cf. cotton
tlnEipg nur,iata war eaeht additional zest
9a9d, imHetaa tothis mods:of sraassos;nR
ibReiness, end nmercariali as the cotton
ima9ket ever. bad been, it.was rendered
99rea2 by this innoYation.o The effect
eli Any changes iu5.political or mercantile
'ataIrs was felt at ppce. and the good old
sames OF ia leiAn. IL commission business
BY correspondence passed away. Par
chaass aud ,salesa $50 arrive, y by, tele-
gnspb,rvsre OF once added to the :ifirm
oHsrs,' iaqd thel Nv holey snachiusrys sth ps
We9ted apoy rules, ,thercotton. the grsih.
RroYislQny aud petroleum exchausea of
S9toRhand .Amarica.It Firms unwilliug
0cQnhSa3fso athel new system began TO
lose fheir most valuable oom ueEcial con-
neealens.l aud at ,last reiuctausly yielded.
:Itiie, present iand Immediate, future
0elpg. ooptipneltys anticipated or, in
-techpicai Phraee; cf discounted, II the fa-
tVre ooptFsoS business iucteased daily.
aad now hgreatly exceeds the so.called
xtsP1sSvoR Immediate delivery business
In correspondence, the daily quotations
sneased tQtbe interesting except 80 far as
they related to- actual private transac-
laenes- tand, unless .one had sufficient
etteb9thIofi mind and. boadasss &c c:a-
vass, theFfqture of politics, hnances and
crops. his letters were laid aside with
rssvokias indifference. IA 4 j..iv.
IOhe-hait i0f the business of the tele-
graph, on land aud in the sen. now turns
npNnl transactions anticipating tue fu.
tnre, and more than half Che time of onr
.nbetve yrneRcbanteYis speut,i in the open
thoroug hiares and on exchange, 10 shap-
sng theiF, course according 70 the! varying
values OF the staple in which they deal
solid grocery articles alone are frse from
'thas change. lbutthe indications are that
they wilLsoou yield TO | the new order of
shllga.ua ~ hla pTbt o3ri ..sl,aiia
TheI 5''future''' cotton business, So
called, in this city, already exceeds that
OF aAivarpooi. A. spinner may sell
Quantity Of goods to deliver at any fu-
ture)tinae. and can Immediately cover his
;oontract bg buying proportiouate num-
her nt, bales of 90 ton. "A planter may
consider certain PTiias &c &c u; u; .-G;S:ne.a
tive. aud can instantly dispose of his en-
tire crop many days before il is picked
0rginned. ,5Gs8 a. 6;i.g .9a,;1, ali
- TIE 90 tton business. so far as the
hahdiiDg of,the article itself is ooncerp-
ed is eyidsntly about to leave this city,
TO some eztont, aud return TO cotton
ports, where the European. spinner pre-
feEs to buy Butbthe iHfnture' con-
traots are On important substitute, aud
By meana of them the cotton ,bus ness of
New York will be fully maintained lse
.aa-'.ssa.e'.~,aes- .Neso Fork Ensning Post,