Savannah morning news. [volume] (Savannah) 1868-1887, 1883-03-29


Editor Morning NeloS The price we
get for our cotton is everything for the
south. A wear of continued and extreme
depression can be considered only as a
sectional calamity. a crop OF o,OOO'uOO
bales at Is TO IA cents would be much
more remunerative than crop of 100000
at Q to 10 cents: the profits from growing
the former would be large, while those
from the latter would be small, if indeed,
the South did not sustain actual loss.
So far this season has been one Of very
low prices, and of gradual though steady
decline: at present we are about at
the lowest figures vet attained.
OF the crop some 6,3O0,0OO bales have
already come TO light, and there is little
doubt of the total being in excess of I,OOO,-
600. Fully six millions have already
passed from the hands of the planters
sold at 8 to 10 cents. Is there no hope that
from at least the remaining one million a
more profitable yield may be obtained:
think there is; and that if the planter will
hold what remains of his crop until the
summer months he will get more for it.
Consider that the price has been about Id.
or &c. below that of the last three years,
and almost entirely on account of our
very large crop. At such wide differ
ence in prices, the consumption must
enormously increase. To be sure the ac-
cepted estimates do show an increase, but
| mean an increase far beyond the esti-
mates, and likewise that the proportion
of American cotton used will be greater
1t will be employed in many circumstances
where its high price has formerly pre-
cluded its employment.
The amount of the present crop in sight
g. 300, O0O-is more than 100000 in eX-
cess Of what had appeared OF the last crop
at this date; yet the worlds total visible
supply shows an increase of only 100000
American. or 10000 of all descriptions.
Notwithstanding this, the price in Liver
pool is I'D. below what it was last year.
Is it unreasonable to believe that the pres
ent intrinsic value Of cotton is greater than
the quoted prices, and that the fact
will he found out before lOngt Last faIl
the writer predicted dragging winter,
followed by much more bu0yancy In the
spring. commencing about the month OF
April. Provided the price did remain low
all the winter and permit the great vol
ume of the crop to be moved, then, with
ordinary conditions of financial and trade
prosperity, an advance in the spring was
confidently expected. Had any material
advance occurred previous to the end OF
February the prospects OF tne laIer , rise
would have weakened. But there has been
no such disturbing influence; prices have
continually dropped; the bulk Of the T.
10000 bale crop is gone; the time Is at
hand.
The South. which clamors to buy flu
lures at twelve cents, insists with equal
nay, greater imprudence, on selling at
ten, With this the case, it is not difficult
for an outsider to forecast the final result.
The outside short interest is all that is re-
quired to insure a time of excitement
when the outlook begins to change.
| advise the planter to hold every bale
possible until summer. He certainly can
not get much less than present prices, and
believe he will get much more.
DEMOCRITUS.