New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-10-12
COTTON FACTS: ELLTSON'S REPORT.

Agricultural Department reports as To cotton
have 50 long indicated yield far below the
truth the demonstrated error being over 1000
oOo b,lcs last year. that distinctly bad re-
mart from that source causes sharp break in
pricrs Nothing less Than an official statement
that every bale had been destroyed would quite
meet speculative expectations as to the Bureau
some months ago. and several times since. The
Tribune gave data indicating that the quantity
-, American cotton carried over from the last
cron would be about 3.OOO.OOO bales 4 number
If correspondcnts were inclined to be conten-
tious and some Of them foolishly abusive about
lhe statement Bui the circular Of Mr.. Thomas
Ellison. everywhere recognized as the highest
statistical authority on the subject gives returns
showing the surplus stocks OF American COTTON
Actually held in mills of Europe and Can
ada as GlOGOO bales; in fact. his exact
Gc,res arp for Europe abou. J6I 900 bales
besides 1OUOO for Canada. and he adds. So
njd,anflv: 1T should be- borne in nina tl'l'
"olr figures represent surplus stocks only 'l'
"worl,lng stocks not being counted. In HIS
total including only 100000 for Europe, Win
3.n 900 in American mills and 10000 in Canada
and 2.OO7 600 in European and American ports
he makes the stock carried over 2.9i'.oOo Dale>
The words and figures quoted show that the
actual quantity was somewhat larger.
As this ends dispute about the surplus from
Inst year. the question Of consumption may next
be pro6tably considered. Mr.. Ellison makes II
\ 10000 bales Of American in all countries. but
shows that it would not have exceeded S,21oooo
bales but for reduction Of about GOO.oOo bales
in the supply taken from other countries owing
mainly to the extreme low price OF American
In effect our surplus forced other countries out
Of the market. So that they carried over much
more than they would otherwise, and Mr.. Ia,
lison remarks. "As Indian and Egyptian re-
"ports are very favorable, and as prices are l1td
ito I'D higher than in the winter we shall
"get these 100000 bales back in the new season
"rhis item added to the 100000 American ear
cried over in excess of the previous year from
..lost season gives 100000 bales 10 put against
"ony deficiency there may be in the new crop.
This reckoning falls short of the fact, because
the stocks carried over September |. 1884. were
abnormally large-about l.0O0,00O bales larger
than in 1880 or previous years. The world could
get on very well with surplus next September
no larger than 1t was in 1890. 1889 or 1888 and
this makes the actual surplus Of American avail
able for the coming year. exclusive Of new cot
ton. about 100000 besides the 100000 which,
Mr. Ellison says. we shall get back from the
countries unable TO market 1t last year. On Mr..
Ellison's mode of reckoning. Them there would
he about 2,7O0.Oo0 bales Ito put against any
deficiency there may be In The new crop"
The consumption he states would have been
but $4,000 bales American had ordinary prices
permitted other countries 10 furnish their ordi-
nary supply. II higher prices and large crops
This year enable them 10 furnish not only their
ordinary supplies. bat the 100000 bales which
Mr. Ellison says VIII be got back, the quantity
Of American required viii DC 1,6jOOOO OF which