Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1879-06-07
MEMPHIS APPEAL
SATURDAY., JUNE z, 1870
COTTON AND CORN QUESTION.

Men best acquainted with the south, and
the most experienced and intelligent agrl-
culturalists of the south, have earnestly and
solemnly declared and published that the
practice Of growing cotton and buying corn,
horse feed and pork is a rulnous one. widely
as all this has been made known; strong as
have been the appeals made TO cuitlvstors
upon the subject, we have for some weeks
been aware that during the spring OF last
year. much less corn was planted than dur
ing the year or two before. This was made
evident by the large and Increasing orders
received in this city for corn, since the pre-
sent spring set in. Clear as the evidence was
of this unfortunate fact, we would make no
mention of it until we could obtain absolute
statistics to confirm the correctness of
our own observations. By the kindness
of the secretary of the chamber of
commerce, we have been put in possession Of
the Official report of that institution, show
ing the receipts of corn in this city for the
five months ending May 3lst of the past and
present year, as follows, the bulk corn beng
reduced to sacks: First FIVE months in 1878,
103,073 sacks; first FIVE months in 1879, 49,
915 sacks; increase this year, d., 843 sacks.
Forty-three Thousand sacks received in Mem
phis this year more than the year before, up
TO this time, and corn still arriving by the
barge-load and selling off rapidly. In addi-
ton to this statement, we take the following
from the st. Louis Republican, of Tuesday
last: The leading markets on change dis
played no activity yesterday, excepting for
No. white mixed corn, which was IN brisk
milling and southern order demand, princi-
pally the latter. The interior south is still in
want both of the grain or its product in meal,
and orders appear to be as urgent as for
several weeks past. From the open
ing of May this demand upon
our market has existed, and thus
far would seem to be undated, carrying up
the market from Soc, with some fluctuations,
TO yesterdays 4115c to 43c, as the quality
governed, with sales for May and TO yester-
day, including round lots of quite 1000 cars,
and an advance on the early sales IN May of
fully SIX cents per bushel." The next day
"wednesday the same paper SAID: "The
activity has been continuous IN No white
mixed from millers and southern orders, al
though somewhat lessened from the preced-
ing week, when GAG cars and 5000 bushels
in round lots were taken-this week 200 cars
and 10000 bushels in round lots. The cash
sales for May to the twenty-seventh amount
to 800 cars and $4,000 bushels for milling
and the interior south, and since, as far as
stated, aggregating a large demand upoa
the market here, which was such at adysnc-
ing prices-the advance of the week aver
aging nearly &c." TIE figures We have
given tell their own story, and we
have reason to fear that less corn
has been put in this spring than on that of
last year. There appears to be an excite
ment about raising cotton and buying lottery
tickets that paralyses the judgment, and that
blinds the mind to future consequences. Let
a heavy southern demand for corn become
prevalent, and sometime in the course of
three or four years, an overwhelming call
for it will set IN from Europe at the same
time the south is needing large supplies, then
where will the "all-cotton" grower be? He
will be crushed, snd among the cotton stalks
there will be heard weeping aud walling and
gnashing of teeth.