The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-03-18
British Views OF Cotton
From Smith, Edwards Il Co.'s Circular.l
LIVERPOOL, February 2S.

From Smith, Edwards Co.'s Circular.l
LIVERPOOL, February 2S.
The prospects of our market are now view
I'D from different standpoint from what they
were month ago. A far more sober tempe
rature prevails, and those wild expectations
of an Indefinite rise, which then prevailed,
have almost disappeared. Notwithstanding
this, we are prepared to say that the founda-
tlon of the market appears 10 us stronger now
than It did then. The size of the American
crop was then matter of uncertainty. There
were still believers iD three and half mil.
lions, and we looked upon three and quarter
millions as the1owest estimate 1t was safe TO
make; but we must admit that the course OF
receipts this past month has been very disap-
pointing; we did not expect 30 sudden col
lapse. The evidence Is now irresistible that
the crop will be extremely small, aud below
what almost any one thought possible at the
beginning of the year.
We See no reason now why the receipts at
the American ports should not be taken as
fair clew to the crop; the rivers are naVlgable,
the price most tempting, the preparations for
next crop 30 large that no planter can dream
of making such high prices next season, and
yet we are falling below last year at the rate
of nearly so per cent. per week, and even
below the year before, when the total was
3,ll5,O00. We therefore conclude that the
crop Is nearly exhausted, and we do not see
how it can be placed higher than 100000 to
100000 bales, .includiDg overland receipts
and southern consumption.
From this 1t follows that the estimate OF
American supply to England for the year, put
forth In our last circular, must be reduced
100, 900 to 100000 bales; and, instead OF az.
fording q weekly consumption OF $4,000 bales
TO our spinners, 1t does not indicate more than
1900 bales, against $4,000 bales last year. and
we are still consuming at the rate of 81 900
bales per week.
From India also we regret to say our pros
poets OF supply are hardly so good. We have
recently received the government report OF
the acreage under cultivation In the districts
tributary to Bombay, and are surprised to ind
a large decrease In nearly every section; the
average Is % per cent. below last year. This
does not include the Berars and central pro-
vlnces, which show decrease OF only about
per cent, but n these the season has been
so unfayorable that deficiency OF rs per cent.
in the yield is predicted. Altogether it seems
clear that the growth of cotton this year In
India will be decidedly below last one. The
crop, however, is early, and Is being sent for
ward BY canal far more freely than last year,
and 1t Is only In the last slx months that the
deficiency will appear; besides, the Bengal
crop is large and the shipments much above
last season, so that no doubt In the first half
of this year we shall receive far more Indian
cotton than during the same time last year.
But. viewing the years supply as a whole, we
doubt if we can reckon upon much more from
India than we got In 1871.
With these corrections we would modify the
table of supply and demand published In our
last circular as follows:
Import 1872. 1871. 1910.
American 450, 600 2450.000 1,e8i000
East IudIs. 100000 ! 235, 900 1,063 1000
Brazil Egypt'n, &c.l, 100000 $4,000 724oOo
Add stock 1st Janu.
ary. London and
Liverpool....... 727,o0o 1900 $50 00c
Total onnnlv TIT mn 4 851 fO0 Q2l 0O0