The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-01-20

avoid high-priced cotton, and we nave n
doubt they will take much less of the Ameri
can supply this year, leaving us .he Il 2, lion M
the high prices ruling America will be com
pletely drained at the end of the season. N
stocks will be left either In the depots or II
the hands of their spnners, and all this extrs
supply will find Its way to England. WheI
these considerations are taken Into account
we do not expect that any alarming reduction
will need to be made In the consumption O
American cotton, but only moderate read
justment, which will be brought about imper
ceptibly as the year goes on.
The fact OF starting the year at l0d instead
Sd is a great incentive to economy, and Il
such a price Is maintained throughout the
season, we will be surprised ii the supply Ii
not found to leDgthen out beyond expectation
Just as last year, the low prices ruling caused
an absorption beyond expectation.
We must further remember that the great
void caused by the war on the continent has
been fully filled UP, even to replelion, this past
wear. We estimate the extra demand thus
caused at not less than 100000 bales, and this
| large item may be struck out Of the require.
ments of the world for the coming year.
But In looking TO the distant future, we at.
| ZACH most Importance of all 10 the influence
| markets of the world. The planters will have
an extraordinary indncement to SOW largely
the coming season they are reaping an un.
precedented profit from this crop. We have
good grounds for believing that the actual cost
Is not over IL 10 IA cents per lb. delivered at
the ports and they are getting ls to 20 cents,
or so per cent. profit. No crop since the war
visions are very cheap In the South we expect
very great increase Of area to be planted,
and, should the crop get favorable start, we
may be sure that Europe will be treated to
enormous estimates of future yield.
The feeling In America is OF present very
sangulne, as Is shown by the excessive price
paid for future delivery, and We may therefore
the spring months. This may for time give
strength to our market, for we confess we are
apprehenslve that the crop will turn out dis
appointiDgly small; and If In February and
March there should be an immense falling off
In receipts, causing our visible supply ofAmeri-
can cotton to be one-third less than last year,
1t is by no means impossible that higher prices
than the present may be reached for time.
Weeconsider that this Is the only ground upon
which an advance In our market can be predl-
Gated; but II, on the other hand, receipts hold
on tolerably well, and we reach tho planting
season without any cause for excitement, we
should say that all chance of serious rise is
gone, fer afterwards the controlling influence
will be the expectation Of next crop; the next
CWO OF LuTco IuUullS W III Uc CClLlCul 1OT BplQ-
nera, but after that We lean to the expectation
of lower rather than higher prices.
Egyptian cotton, however, stands In d dlf.
ferent position. It has long ruled far cheaper
relatively than American, and thla, combined
with the exceptional goodness of the fine
spinnlng trade, has developed vast increase
OF consumption. At Bottom there Is great
extension of consuming power in progress,
and elsewhere splnners Of American are try
Ing to substitute Egyptian cotton, and 60 on
to finer counts OF yarn. The last Egyptian
crop, large as 1t was, entirely disappeared,
only $4,000 bales remaining in stock here be-
fore the new crop arrived. The present crop
Is believed to be rather less than the last, and
it has to meet o great Increase Of consunp-
lion, and we conclude that, as the year ad-
vances, Egyptian cotton must rise consider
ably above the price of American, and there
may, at times. be inconvenient scarcity. The
great expansion of the fine spinning trade
makes 1t Imperative that the crops In Egypt
should be rapidly increased, for no other cot,
ton can be substituted on any large scale for
the long and strong stapled sort that comes
from that country.
scaling the crop three and qual ter millions,
we allow quarter Ot a million to re drawn from
the surplus stocks OF European spinners and for
additional imports before Christmas Iext year.