Birmingham state herald., 1897-05-02
New Orleans Letter.

NeW OrleanS Aprll 2l, 1Sy7.
 Dear Sir.-As will be readily understood, the replies received last month to the in- quiries sent out regarding the prospective acreage have been renderd practically mis- leading by the great floods which have since occurred in the Mississippi Valley, ana to tabulate them, under such circum- stances, would mean an equal injustice to the planter and the spinner,
 Leaving out of the calculation, however, the large acreage eliminated by the floods, It was clearly indicated by the replies that the area planted in cotton this season would show little, if any, increase over the oeoldedly large acreage of last year, The short yield of corn forced many farmers to buy heavily. from the western states, and besides leaving their working stock in poor condition to make cotton crop, obfiges them now to devote a much larger area to corn: or course, everybody recognizes that the farmer will extend his cultivation as far as his means or necessities permit. but While the total area under cultivation will be increased, the acreage in cotton will at best, not exceed the very large total of ia st year.
 Besides. we must remember that every thing in this life is influenced by compari- sons. one may may be solvent if he owns but few dollars and owes less, while an- other may be bankrupt with a million if he owes more.
 And so 1t is with crops; comparisons with previous seasons have always been potent factor in forming public opinion. Just now, eSeirypGdy int interested in cotton is mentally tions of last year, when the start was probably the earliest ever known thus minimizing the danger of frost in the early fall; the usual annoying spring rains did moi interfere with planting operations, even the usual cold spells about the middle of April appearance to annoy the planter with the realities of lice and sore-shin, followed by started m Wt the h nes e hs last known. and 1t is with this prospect-as ex- pressed by the succeeding bureau reports that we must reckon and make comparisons Of what r-ao odx, of this crop, 1t is hardly necessary to add that the comparison will be decidedly un-
 So much for crop prospects, but look for a moment at the contrast between the out look for the mills now and year ago. Stocks of goods had accumulated beyond all previous records; merchants could not buy, because all credit and confidence had been destroyed; mills were shut. down or running On short time. and prices were such that those in operation were making daily losses for their owners Today pros poets fir spinners are bright throughout the ana Sds fair s0%e to breaH s records, with good profits to spinners.
 change in conditions, or the the new new 'eeiea, cron months would not be selling at such a ridiculous figure as 65sc., with spots now The lowest price touched last year for October was 57sc., at g. time
 When crop estimates M s ranged in the neigh When the excitement attending the na- tfonal election was in full swing l.. When the silver question was demoraliz. ing all interests.
 When foreign investors were throwing overheard their holdings in stocks and bonds regardless of price.
 When the whole country was in the throes of a financial panic.
 When gold was leaving the country SC rapidly. that the treasury reserve was re. duced to less than $40. 900. oo0 and, notwith- l standing bond issues of s262, ,000, 900, it was impossible to maintain the reserve up te the standard. Y When, in fact conditions could hardly T That E is the siids of the picture which hos fortunately. since been 'turned toward thl wall"
 Now There will be no national election for the next four years,
 The cdrrency question Is no longer a meIiace
 Foreign capital Is steadily returning. The treasury reserve is over S150, 0Oo Business in all lines, especially cotton goods, Is either already prosperous or rapid ly attaining prosperity.
 The surplus left out of last years crcr