Year: 1869

land devoted in the South to the
cultivation of cotton the present
year, is something short OF what
it was last year. This does not
result from a less inclination on
the part of planters to produce
cotton, or to less capital at their
command to assist in producing it.
On the contrary, thanks to the re-
munerative results of their last
years operations, they were in an
improved financial condition and
an eager mood of mind, such as
would unquestionably have led
them to undertake to plant more
largely of cotton, but for the in
terposition Of single difficulty,
that of procuring an adequate
supply of labor. It is interesting
explain, and important to under
stand, the precise nature of this
difficulty; and the stubborn fact
in which it has its root cannot be
too often or too vividly impressed
on the commercial mind.


If cotton planters in general did
we'll in 1868, the colored employees
in general prospered in an equal
measure; and, relatively to their
needs and expenses, perhaps in a
still larger measure. In proper
ton as their pecuniary condition
was bettered they were indisposed
to hire themselves as field labor
ers, and ambitious to set up farms
of their own, ON which little or no
cotton would be grown, or to en-
gage in some business requiring
the least amount of hard work.
Some went so far as to dream of
an indefinite vacation from labor
of any sort, a period in which
they would abandon themselves
to a delicious insouciance in alife
Of independent leisure. Here is
the secret of the stringency Of the
labor market which was expert
enced by planters in preparing for
the operations of the present year;
and here is the principal reason
why it would be rash toa expect
the growing cotton crop totexceed,
or to reckon with absolute conf
dence on its equaling the preced-
ing crop. And, in the nature of
things, this shrinkage of agricu.t-
ural labor, at about the sane
rate, must go ON from year 20
year as long as the bulk of its
supply is confined to the freed
man population. 1t is true that
Chinese laborers may gradually
fill up the place in Southern agri-
culture vacated by the freedmen;
it is equally true that white labor,
either native or immigrant, may
succeed at length, by close and
scientific tillage, in making, from
a much smaller surface, a great
deal more cotton than is now pro,
duced. But these are remote con-
tingencies which can not be count
ed as factors in determining the
actual conditions of Southern cot
ton production and the immedi-
ate prospect of the cotton market
as it may be affected by those cen
ditions. For present purposes OF
commercial calculation, it is safe
to assume that the crop of last
year touched the highest tidal
mark of production in the pending
industrial situation, and that the
crop of this year can not, possibly
exceed it, and will probably, fall
below it.


And, on the other hand, it would
be quite absurd to conrtrue the
state of things above indicated as
signifying an absolute limitation
to the growth of American cotton
| in the impending future. The
pessimist view of any matter is
usually the unsoundest and most
pernicious of all. The opinion
that the magnificent cotton belt
of the South is gradually to sink
into insignificance with reference
to the production Of this great
staple, is no exception to the re
mark. The wastes of war, il
spite of many needless obstruc
tions, clear heads, stout and hope
| full hearts, and skillful and dill
gent hands are gradually ant
surely repairing; railroads vii
soon be traversing the South il
every direction, leaving no pro
ductive region, however interio,


or remote, without speedy access
to market; and, eventually, th'


needful labor, attracted by assur


ance of profit and facilitated b,


abundant and rapid means o
transportation, win be had.-IN
| o. Bulletin.