Year: 1859

available for distribution leaving stock in the ports
the lst September whatever is received till the end
OF the season. say 100000 bales. The question arises
what share of this amount will be directed to England
If she to receive in the same ratio she hasaready
done of this crop viz 50 per cent she would still get
10000 bales but find that the proportion shipped
to England Of the remnant of the crop is almost inva-
raby larger than what she receives of the aggregate
because she affords the principal market for the inferior
class of cotton which arrives towards the end of the
season. 1t is hardly necessary to observe that the exist
ing stock in the States comprises more than the
usual amount of rubbish and consequently the share of
the residue of the crop exported to England will proba
bly, equal the average of past years. Now we find that
England has received in round numbers 60 per cent of
the cotton distributed after this date on the average of
the last five years. which would to her 100000
bales out of the total yet to be shipped from the Amer
can ports, making the export to England out of this
crop two millions Of bales.


Any estimate of the probable import of new cotton
before the end of the year. is of course entirely con-
ectural, and only venture to give one, in order TO
complete statement Judging from its present ap-
pearacce, the growing crop does not likely to
ure very early but we need not on that account sup
pose that its delivery will be less rapid than last year
The facilities for sending it to the ports fast ncreas
ing, while the present scale of prices afford strong
inducement to market it early. Now last year. there
arrived in Liverpool 25O000 bales of new cotton before
the lst January, against an average of 100000 bales
for the previous years but this heavy import DUE
in great measure to the prevalence of unusually favora
be winds and the chances against the recurrence
Of such event will not estimate the import this
year at more than 100000 bales. We may observe
here, that we throughout this statement the
continuance of the present basis of price; for il the
value Of the staple to experience serious Decline
the delivery of the crop might be greatly retarded,
whereas important advance present rates would
doubtless attract supplies more rapidly.


We have now reached the point where we can esti-
mate the probable supply Of American cotton to the
end of the year:


Bales.
Stock in Liverpool the Oath June. 100000
Afoat, embracing shipments to the l4th June


rived, but not included in above. ........... 125. 900
Yet to be shipped to England out OF this 100000
Estimated import of cotton. 200 900


Total supply of American cotton n........1, 1876 900


The next point that requires to be considered is the
probable supply of East India cotton till the end Of the
year and here unfortunately, left very much to
conjecture for the shipments from that quarter
capricious and little regulated by any ineligible
principle as to defy accurate calculation


So far, however, as information extends the pros
poets all in favor of very liberal supplies while
the consumption of this class of cotton has been so
duced by prolonged scarcity and high prices to
der that supply practically more abundant than its
tual extent implies. The last advices from Bombay
to the 23d May and the shipments to Liverpool 10 that
date, afloat the oath June, amounted to l4l 00O
bales All the accounts in representing cotton
coming in very freely, and likely to be exported in
large quantities for time to come Messrs Ritchie
Stewart & Co., write as follows Arrivals of cotton
have lately been extensive SCALE and it is evident
that the crops large that the exports to Europe
likely to heavy unless checked by advices of ad
verse markets.


1t is, doubt true that the monsoon, which sets il
about the beginning Of june must check the influx
of cotton into Bombay but the stock there is probably
very considerable, asd with what additions it may
ceve quite sufficient to keep up large scale Of export
for some time to come. Now, allowing three months
and a-haf the average passage to Liverpool, there
should arrive here all that is shipped from the 23d Ma.
to the 18th September-a period of about four months
To guide in estimating the amount, let us note th
gross export to Europe during the corresponding peroc
of the last four years


EXPORTED FROM ROMEAN To EUROPE EROM