The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-11-06
OUR COTTON CUSTOMER.
England Not Purchasing NJ Much ns
ia Former Years.

l
A few years ago 1t seemed impossible
that the world should again depend on the
United States for its supply OF exportable
wheat. But the unexpected has happened
Yet 1t may be many years before another
demand similar to that now in existence
will appear. But 1t is safe to say that no.
body has seriously believed a day could
come when the worlds requirements Of
American cotton would fall to inadequate
proportions. II Is an occasion for congrat-
ulation that, though one now may poss!-
bly, assume that such time threatens to
arrive, he can not furnish incontestable
evidences that the catastrophe is in sight.
| What one is forced 10 recognize is not,
however. agreeable. II gives some color
| to the anticpations of an evil occurrence
| in the future. But the indications OF
coming danger are not without an accom-
paniment OF promising events.
The English newspapers are at present
discussing one labor difficulty besides the
strike Of the engineers. That is the move
ment for an amelioration of the cotton
manufacturing business. II has been pro-
posed to effect this object b.; several de-
wees, any one Of which, among them
being rehabilitation Of the price OF sill
ticn. The plan most generally advocated
Is a reduction OF wages. Overproducton
prevails. ana II is the opinion OF the manu-
facturers that they must either stop work
LOT period to await the consumption OF
stocks in hand. or cut into the prices at
which goods are sold the whole world over.
Nov that England and Scotland do not
ma as vigorous demand for their cot
| ton manufactures as they would like, and
IN Ia I'd
by rejecting ON the change in business
conditions from what they beheld twenty
hve or twenty years ago. or even seven or
eight years back, the figures regarding
British cotton goods exports show. In 1872
the trade was valued at not less than C &c.
| $4,000. while last year it was but 69,3sl,
900. In 1890 II was E74i3 900, and for
1894 and 1895 less than III 1896.
1t Is true of course, that the volume of
the trade reckoned in measurements and
by weight has greatly increased, But tho
fact is that the imports of cotton from
which the goods are manufactured have
grown by proportions commensurate only
to the larger quantities of cloth, yarn and
garment goods sent out ana have shrunk
! as the lower prices have failed 10 maintain
the exports of manufactures at max
imum. Accordingly the Importation of
] 1888 BOG 600 pounds of cotton in 1870 must
be COMPARED with one of 1,62S 664 900
pounds in 1880. OF 1873. 1850 in 1890, and
OF l,775 900 600 in 1896. The American
crop OF cotton was very small comparative
ly. in 1870 and Great Britain took two
thirds OF it. 1t was only 2.7I1 900 900
pounds in 1880, and over half of 1t went
TO British mills. But in recent years 1t
has risen to enormous figures. In 1895,
for example, when the English imports
amounted to 1,756o 900 900 pounds, 1t was
$685. 600 900 pounds Pass on 10 the cur
rent season, which Is promising a crop OF
at least 5000 900 600 pounds. and consider
OF how small proportion of II Great
Britain can possibly become the purchaser
Evidently our best cotton customer of
other days is not at present a great buyer.
But who Is to consume such a quantity
of the staple MS neither the United States
wants nor England will take' Reckoning
the two amounts consumed by the domestic
and the British manufacturers together
at the maximum, o. under $500 600 900
pounds, one can easily understand that n
customer is needed for the excess, II 1t
shall not sink the quotations below the
actual cos of raising to farmers.
But ns England has failed TO take our
excess in any proportion adequate to its
production, another set OF buyers has ap-
peared. For time Russia was one OF |
them which bought in regularly increasing
amounts. Today Germany In the only |
country which steadily wants larger
stocks. France appears to be needing
more. but the advance is not rapid or
large Germany, in fact. is now 10 BIO
counted on to purchase nearly. II not |
quite. half as much as what England
wants But the continental demand is
not yet large enough TO consume the ex-
cess. and the Egyptian, Indian. Peruvian
and Russian crops are increasingly COM
peting for the new market, as well as for
the British opening. Yet in 1895, under
the stimulus of low prices and good busi-
ness the United States managed to sell
3.5l7 900 900 pounds altogei her in the for
eirn market. Only a small excess then
after the domestic stock had
been used. But the effect of THEFT years
was to bring about over
in OILS. The exports of 1896
were over billion pounds less as con-
sequence. At the present time the promise
is poor Of larger shipments than those OF
last year to England, and. OF better to the
continent. Our greatest customers mis-
fortune is, therefore, in large measure
one involving trouble for ourselves.