The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-11-02

Spain is estimated at 900 bales, Of which
find that about one-half has come from Eng
land and continental ports, and the other half
direct from America, India, &C.; the former
half is included In my tables, the latter half is
not; 1t is, therefore, necessary to add 208,000
bales 10 my tables of delivery In order to COM
plete the total for all Europe.
A year ago ! mentioned that spinners in
England and on the Continent were holding q
large reserve of cotton, while al the beginning
OF the season The contrary had been the case;
that the difference between the two dates
might amount to half a million of bales, and
that the American crop OF two and three guar.
added that crop OF three and quarter
millions. which at the tine was the most gen.
eral estimate, would form satisfactory supply.
Snch coDjectures were thought rather eX-
travaeaut, and have been objected to by some
of my friends. However, America produced
oaly 2,975.00 bales; American consumption
exceeded my estimate by $4,000. In Europe
more constantly working than In ls70-Tl,
aud the season closes With stock In the
ports exceeding last year by 726,O00 bales.
In visible cotton Tho Increase Ia 4O6, 900 bales,
which striking result Ia nartly owing to the
heavy import from India, Brazil, &c.
splnners on the whole now t30th Septem-
ber) probably hold as small reserve ofcotton
as They held two years ago, that ls to say,
they have little or no cotttn beyond Immediate
wants.
The deliveries from the ports, If We add, as
explained above, 208,0e bales per annum for
direct import 10 The Baltic, &c., will show as
follows: l870l7l, 5.476, ,00o bales of 398 pounds,
equal to 2,ll4.D00, 900 pounds; 1a7l-72, 4.98l.-
600 bales OF 358 pounds, equal to l,7S3, 1000, 900
pounds; average Of the Swo seasons, $685.
600 bales Of 373 pounds. -. .'s
fn ft,lt
sumption ore not very bright. At Manches-
ter and In several parts o. the Continent the
demand for yarns and goods is not brisk;
prices of the principal articles are unremuner-
alive; home trade in Eng land is slackening;
some OF the large markets abroad are over.
stocked with goods; corn crops are deficient
In several countries; potatoes In England'
seemed to have failed; meat, GOAL and iron are
very dear; work people everywhere are rather
scarce and difficult TO manage; discount is
getting higher. Ia some parts ofthe Continent
there 'evails g. mania for new banks, and all
sorts o. "d.rtaklngs are converted Into Joint
stock c. erna, Reaction will come some
day or otl 0T Is already beginning to. be
4slt,.-. Ma, ,1amhinadrRi The FsseOh
loan now II ,nurse Of payment, may cause
perturbationA I the money market Impossible
TO foretell.
All this may mge In The course Of twelve
months. we als know that spinners have
no cotton beyond present wants. Some time
or other they may feel inclined to increase
their stocks; but let us suppose for moment,
In order to have bass to go upon, and With
out meaning to predict Bnylhlng. that their
wants should not exceed the average of the
two last seasons, say l0O 55S bales of 373 lbs per
week for all Europe, 5.52s, 900 bales. and for
America 1,l50, 900 bales; total, 1873 900 bales;
and let US examine what supply may be eX.
pected. Thus far the crops In india and
Egypt promise extremely well, but from IDdia
we have:some 300, 900 bales less on the water
than last year. and the price Of Bengal cot
ton Is very low In Europe. Will thsre-
fore estimate the Indian supply against last
seasons 2,O39 900 bales, at only ZOO, 900 bales;
from Egypt an increase Of 100, 900 bales is ex-
pected, but against last years $4,000 will
say $4,000. We may hope, without relying
upon 1t, that all other kinds except American
will give US last years l,3l5, 900; and an Amer
lean crop of 100000 would cover require
ment of 6,378, 900 bales. A crop OF three and
O quarter millions would exceed by nearly 5
per cent. The average deliveries In all Europe
of the last Two seasons. In both cases Visible
stock OF the end OF September next would be
the same as now-largely exceeding that OF
the four preceding seasons at the end OF Sep
tember.
For my part feel disposed 10 believe that
the present American crop will yield at least
three and quarter millions; higher estimates
are more numerous, think, than those below
this figure; but we all know how unreliable all
astjmetea are at this lime of the wear.