The Camden journal. [volume] (Camden, S.C.) 1866-1891, 1871-11-23
Miscellany.
From the South.
COTTON,

ed with events of political nature fraugh
with consequences to the spinning interest
of the continent impossible to foresee. Sharl
and decisive as the war proved to be, serious
misgivings in this respect, however, rapid.
vanished and cotton was again brought face
to face with its purely commercial bearings
and as we proceeded it became manifest tha
sheconsumpton had assumed such proportions
in other partly distant localities that even al
American crop of ante-bellum proportions
would not reprcss the intrinsic buoyancy Of
the staple as long as the rate of about 81, ,O0U
bales per week actual takings by the com.
bined European mills Qeaving out Russia or
the Black Sea and Barcelona) could be main-
tanned, aided by a steady increase of con-
sumption by our domestic spinners. The
fact is that cotton has largely superseded fax
and silk in many ways, as we shall have oc-
casion to fully explain in future reviews of
the precious fibre, and that at the compara-
lively low figures then ruling, China and the
East found it more profitable to draw plain
and heavy fabrics from England, and to a
limited extent they have also done so from
our own Eastern manufacturing centres. If,
therefore, the north of France and the Ger
uan mills on the Rhine and in Westphalia
were compelled to suspend work, Belgium,
Holland and England were all the more ac-
tive in keeping the vacuum filled, and when
finally French military resistance collapsed,
HaEre, with the extra inducements OF an
impending duty on raw cotton, re-imported
in month from Liverpool alone what she
had sent there out Of reach of Prussian ap-
pretended bombardment during six months.
The Prussian western provinces joined in
the scramble for American cotton, and from
It'd in March spot cotton gradually recov-
cred to 9Sd- at Liverpool; while from 13c,
low middling futures" at New York on the
9TH March were bounded to 21ic. Consid-
cradle strength and consistency were im-
parted to the movement by the lcssened area
plantediR our cotton region, by cold and
rainy weather, whole months backward
pness, decreased application Of fertilizers,
the relief felt everywhere at the vanishment
of the continental war and turmoil, the ease
in money matters and the good opinion
, (which attached to cotton while weeds were
! known % slias lhs seans. -glant -oEeEtoYsy-- =
! ing, mans height
Gradually, however spinners became well
stocked up, cur crop accounts, frightened
slightly and we declined to lSc. in August
to again touch 21c. in September, till we are
once more landed at nearly the previous tt55-
ure. y
90, The precarious killing frost days near the
& period of 22d to 18th September were watch
cd with the usual wistfulness; but as soon
Is we approached without mishap the month
of November stout faith in the safety OF
Christmas picking, and beyond, began to
prevail, producing the decline ON both sides
Of the ocean
While this process of shrinking in value
was developing, We followed the downward
movement sluggishly and kept long time
I'D. above Liverpool, and are still Id. above
: that parity to the present day.
That the European spiuuers should not
be anxious to operate direct in the Southern
ports above the Liverpool parity is thus eas-
" explained, and We cannot expect much
participation on their part in moving the ac-
eumulating supply at the ports under the
circumstances, nor can We count upon En-
gland receiving full up to 100000 bales du-
ring the months Of October, November and
December from here. We therefore esti-
mate the quantity to be received by all Eu-
rope till the end of the year from the United
States at no more than that much, and ex-
anime how Europe is then likely to be sup
piled:
>" bales.
Stock in Europe Goth of October $4,000
Afoat for Europe, 447,OOO bales, Of
which to arrive till lSt Jan. ~ 241 ,OOO
l,l4O,OO0
And furthermore to arrive from here 900
$4,000
And deductins actual takings 9lG,94O
Would leave o23,ObO
stock, against usual 1st January stock of $50
900 bales.
o.. This would 60 far to explain the indiffer-
ence shown by Europeans to operate in our
markets, without reference to the improved
prospects of three and half million crop,
at the comparatively moderate figure of lSc.
. As far as we are able to ascertain, howev-
er: the impression seems to be general that
At about 173c. there will be numerous
AmericaD and European purchasers on this
side, regardless of slight excess of parity
above Liverpool, which may then exist, and
notwithstanding the disturbed financial as
;tt pect in Europe and here, and despite the
possibility of renewed strikes in English and
continental manufacturing districts. Were
spinners and capitalists to 60 in courageous
ly at III to 1sc. rebound would be newt
able that might carry prices cent beyond,
as the incoming shorts will probably prove
more numerous than is now suspected. In
other words, we deem at this juncture, hap
pen what may, the figure of 1ec. as devoid
of danger to the capitalist, while it is far
from unremunerative to the planter, although
, bis extreme anticipations in point OF value
i, may not be fully realized.
rs" With continuance of peace on the Con-