Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-03-23

nation unsatisfactory. Speculation holds up
our prices and keeps cotton here, although
European stocks are unusually large. We
have a shortage Of say 10000 bale. in the
last crop but the East Indian and Egyptian
crops are helping 10 fill the VOID, showing
larger and larger proportions a. they come
70 market. They bid lair, possibly, to make
Up for v hat Is lacking in our own stocks, 50
that the worlds markets may have as much
cotton as in the previous season. 1t will be-
the middle Of May, says the PoSt, before the
probable reigning price in Europe can be
ascertsined, the weather prospect and the
loss Of rcresge from the foods have 10 be
taken into account. The total stock, includ-
ing all in the United Sistes England, and
the continent, together with all atloat .for
Europe from the United States, Brazil, Egypt
and India, was estimated, March 18th, at
2,968,762 bales against 3,08035 at the cor
responding date in 1851, and > ,jS3. 794 in
1880. The difference Of nearly lO0,0 900 bales
less IN the stock now than a year ago, Is
caused by tine fact that the amount of Amer
lean cotton ahoat for Europe is only half a.
great as last year, by reason of the shortage
OF Jour crop, while the continental stocks
are larger than then, and the amount OF
Indian cotton afoat for Europe is
nearly double what it was last year,
thus showing that while We have a visible
supply in the United States yet equal
to last year, the cheaper Indian cotton is 60
ing TO market in Europe in preference TO the
American. This last fact is one that should
be reflected upon, for, without care, the
American market may be so managed az to
play exactly into the hands of the East
India dealers, men by no means wanting in
shrewdness. A correspondence. T. Whee-
less. OF Nashville-in a communication to
the New York Chronicle, shows up the pres
ent distressed condition of the cotton-grower.
He says that during the great food Of 1859
pl lnting was carried on by men Of large
means and unlimited credit, and possessed of
perfectly organized labor. Now each laborer
has to arrange for himself, and the overflow
has tremendously increased the difficulties;
they have lost their stock and the fences are
gone, and they have no credit. This and |
other things will bear heavily against the |
next crop. The preparations for the last |
crop were made with good credit, literally |
accepted, and the future looked bright. |
Stores and fertilizers and implements were
bought, and the growers went deeply into |
lebt. Disaster came, the creditors got hold |
If the cotton and put it on the market as
quickly as possible. The whole did not
pay the debts, and now the farmer st arts with |
,nly limited credit available, and a back
lebt to start with. These things, in connec-
ion with the flood, will materially limit this
eason's acreage; it will be weeks before a
crop can be got in at all in the Mississippi |
yalley. For years the South was never in a
worse condition financially than now; it has
lad unbounded credit the last three years
merchants believing that every years crop
gould be larger than that OF the year before,
,ut reaction has come and advances are
lard to get, even by farmers in favorable cir
The cotton-grower is in extreme
there is diminished ere dit
diminished acreage, less to start the season
n, wants more than usual, and prices Of
eed and all necessaries unusually high. All
his will decrease his power TO act, and the
decrease of acreage will be great. The
xigencies to which the farmer is reduced
ill cause him to put in more grain than
yer before, which will further reduce the
otton acreage. The food will scatter the
ands, and the demand for labor on railroads
ill draw many away altogether. All these
nauences work one way, and that is to limit
r Il
otton during the season now opening.