Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-03-21

above New Orleans and Galveston
j During the current season Memphis hat
been uDquestionably the best market IL
America for planters. For instance
yesterday middling cotton in this mar
ket was worth l6 cents, while at New
Orleans 1t was 15s, and at Galveston
Isl, though these two cities are seapOrts
This high auling in Memphis Is due tC
the extensive competition in cur market
embracingSs 1t does all classes OF buyers
that every other market has represented,
and the well-knovn superiority OF Mem
phis cotton over those of any other in
terror market Of the south.
| FACTS AND FIGURES.
The following extract, from the
twelfth annual report, of the trade OF
this city, as compiled by John s. Toof,
secretary of the chamber of commerce,
relative to the location OF Memphis as q
cotton market in an area of country
which produced $40, 900 bales of cotton
in 1859-6O. shows: at is true, that
while claiming to be the metropolis OF
the region OF country thus described, by
every law )f commercial economy, of
this crop Memphis received but 398, 79l
bsles-less than oDe-half of the produc.
ton OF her district. Up to this date, she
was comparatively unknown to the Eu-
ropean world as cotton market New
Orleans had long enjoyed prestige for
her superior staple cOttOns, Of which it
is notorious that the Memphis district
furnished her the most desirable in both
staple and handling. AS further evil
dence of the superiority Of her cottOns, be
it remembered, that her district of eoun-
try has produced the cottons to which
have been gwaTded the first premiums
at worlds exhibitions at London,
New York, Paris and VieDna.) With
this prestige, we were almost entirely
dependent upon her for market, but at
the daUe mentioned, Memphis was just
commencing to realize the benefits of
direct trade, not only with American
but European spinneTs, to the extent,
that o! the crop of 1S60-61, 200, 600 bales
of $40, 900 received at this point, were
shipped direct to northern spinners and
to Europe. From this season to that of
1866, we are without data. During
the interim, cruel war had deselated our
district. We may say that nothing was
left but blackened fields: work stock,
provision stock, farming implements,
fences, gin houses-all were gone
the morale of its labor system
thoroughly demoraliZed, and the for
tunes of our commercial men badly shat
tered. During this five years of war,
our sister cities Of the west had nearly
absorbed our Ommerce, and were in a
financial condition to avail themselves
of our poverty, and cripple US in every
effort toward regaining even that we
nH mi
but few thanks for charities shown US in
our struggle for commercial existence.
We pass by five years of her struggles,
and come to the season of 1S70-7I, and
we find that of the cotton crop that sea-
son-4 352, ,3l7 bales-this district raised
about $50, 900 bales, and Memphis re-
ceived net 5l1 ,432, being 112 ,641 bales,
or about thirty per cent. in excess Of
her most prosperous year before the war.
The manufacturing world generally has
recognized Memphis as one of the
most important cotton markets of
America, not only for extent of her
productions, but also as furnishing the
most desirable staple, She now num-
bers, in addition to numerous agents of
home spinners, permanent representa-
tives Of the spinners OF England, Ger
many, France, Russia, Spain, SWitzer-
land, etc. We deem it but proper to
state that but for the outward circum-
stances Of having suffered so severely by
the two great scourges Of cholera and
yellOw-fever, last year, in connection
with the financial panic, our city would
have continued to show the same pro.
gressive advance. From 5000 to 1OO,-
600 bales Of cotton that would have
sought this market were driven from US
by these adverse influences"