Claiborne guardian., 1880-02-11
A Warning to Cotton Planters.

We do not think we could do
greater service To our cotton plant
ing friends than to rcpublish nm,
commend To their careful consider
alton the following summary of tn,
annual cotton circular of Smith
Edwards " Co.. dated Liverpool
3lst Dec, which We find in the Gal
weston News:
Oft repeated experience warns u,
against confident forecasts of III,
distant future. We have alread,
indicated what we think OF the
prospects of general trade of Man.
chester in particular; it remains to
glance at the outlook of supply
That certainly is more encouraging
than last year. America has made
splendid crop-prlvate adviccs
put 1t varionsly from five and Il
quarter To five and half millions,
anti were it not for lingering sns
piciOn that the bureau report NAV
have some truth in it, we believe
the tavOrite estimate would be five
and a half millions. But seeing
that the bureau persists in putting
II at less tnan last year. there is Il
degree of iimiditN in adopting those
large figures which the movement
of receipts and the splendid picking
ana growing season would justify.
IL - urged. however, that thr in.
crease from America has already
disappeared, or nearly So, rs the
visible supply of American cotton
only shows an increase of 10000
bales on last year. whereas the rr
Ccipts at the ports are iJO. .ORi bales
ahead of last year. No doubt this
prices, but 1t must he remembered
that American Spinncrs have been
cnurmous huNeis this season. and
hold far larger stock than last
year, and will need less for the re-
malndrr Of the season. Our own
splnncrs are also better supplied,
but those on the continent are cN.
tremclN bare. Certainly IA crop of
hre aud Il quarter to five and halt
millions will all he wanted. ami
may possibly not prevent Il squeeze
IN the autumn, but as We begin the
year at I'D. per pound higher than
last one, there seems little ground
Tor anticipating IN advance at pre-.
sent, and II would be more in keep
ing with past experience 10 expect
dull time IN the spring when our
stock accumnlates.
The Egyptian crop is turning ont
exceedingly large, and will. To some
extent, relieve the demand for
American cotton, especially in Rus.
sla. The Bombay crop is we'll spoken
of, and though we attach little
weight To estimates from Bombay
at this season, it il well To bear in
mind that the ftyori,c opinion there
IL that 2W,OOO bales more than last
year will he shipped before the
monsoon.
Looking broadly at the question
we cannot see the danger OF ex
treme scarcity this wear, and as
cotton growers all the world over
are getting Il very remuneratiyc
price, we are undoubtedly sowing
the seeds of "a large future increase
of cotton supply.
Ii usually happens that in spec
ulative periods, when high prices
prevail, stocks accumulate beyond
expectation, and shipments to this
country are relatively large, while
those to the continent are small:
and, II We mistake not, such will be
the case this year-excessive timid.
ity and low prices ruled from the
opening of the cotton season until
March, when the crops of the world
were pretty well distributed, and
consequently we never get an ade.
quate stock in Liverpool; but this
year We have had already three
months of great activity, with busi.
ness both In Manchester and here
pushed TO the utmost, and it seems
reasonable to look for q spell of
dullness when all this busiuess