Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1897-05-07
SPEChrNARKET LETTER.
NEW ORLEANS, La,

understood, the replies received
last month to the inquiries sent
out regarding the prospective acre
age have been rendered practically
misleading by the great floods
which have since occurred in the
Mississippi Valley, and to tabulate
them, under such circumstances,
would mean an equal injustice to
the planter and the spinner.
Leaving out of the calculation,
however, the large acreage e1imi-
ed by the foods, it was clearly in
dictated by the replies received that
the area planted in cotton this
season would show little, if any,
increase over the decidedly large
acreage of last year. The short
yield of corn forced many farmers
10 buy heavily from the Western
States, and besides leaving their
working stock in poor condition to
makea cotton crop, obliges them
to devote much larger arear to
corn. Of courae, everybody rec
ognizes that the farmer will ex-
tend his cultivation as far as his
means or necessities permit, but
while the total area under cultiva-
tion will be increased, the acreage
IL cotton win, at best, not exceed
the very large total of last-year.
Besides, We must remember that
everything in this life is influenced
by comparisons. One man may
be solvent if he owns but q few
dollars and owes less, while anoth-
er may be bankrupt with a million
if he owes more.
And so it is with crops; COM
parsons with previous seasons.
have always been a potent factor
IN foTming public opinion. Just
now, everybody interested in cot
ton is mentally reviewing the re-
markably favorable conditions 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 not in
terfere with planting operations,
even the usual cold spells about
the middle of April and the mid
die of May, failed to present an
to annoy the planter
with the realities of lice and sore
shin, followed by forced replant-
ing, In fact, the last crop started
in with the finest prospect ever
known, and it is with this prospect
-as expressed by the succeeding
Bureau reports-that we must
reckon and make comparisons,
and, in. view of what has been
seen already of this crop, it is
hardly necessary to add that the !
comparison will be decidedly un-
SO much for crop prospects, but
look for moment at the contrast.
between the outlook for the mills
now and a year ago. Stocks of |
goods Ind accumulated beyond all |
previous records; merchants could |
not buy because all credit and
had been destroyed; /
mills were shut down or running
on short time, and prices were !
such that those in operation were |
daily losses for their own
ers. To-day, prospects for spin
ners are bright throughout the
whole world-not only in some
sections.-and consumption bids
fair to break all records, with good
profits to spinners,
People evidently do not realize
the radical change in conditions,
Or the new crop months would not
be selling at such a ridiculous
figure as 6Sc., with spots now OF
7gc.
The lowest price touched last
year for October was 55c., at
time
When crop estimates ranged in
The neighhorhood of 100000 /
bales;
When the excitement attending
he national election was in full
swing;
When the silver question was
lemoraizing all interests
When foreign investors were
thrown overheard their holdings
IN stocks and bonds regardless of
price;
When the whole country was in
he throes of a financial PANIC;
When gold wasleaving the coun-
'ry so rapidly that the treasury re-
serve was reduced to less than
40, 600, 900; and, Notwithstanding
oond issues of $685., 600, 600, it was
to maintain the reserve
Up to the standard;
When, IN fact, conditions could
hardly have been worse.
That is the side of the picture
which has, fortunately, since been
turned toward the WALL"
Now
There will be no national cleo /.
ion for the next four years;
The currency question is no
onger a menace;
Foreign capital is steadily re-
,,rn,D,.