We have received at Mobile 292,000 bales, and 30,000 more is as much as can be depended on. Our receipts will not be 5,000 bales from 325,000, as we have unqualified evidence that the country is cleared. For New Orleans, besides my general information from different sections of its cotton region, and the recent expression of some of her best informed merchants, I have that from persons who have been over the country, which assure me that my figures for that and Texas, are over rather than under what their receipts will be. The impression among some, that the north Alabama and Tennessee crop was better in 1849 than in 1848, will be found erroneous. The season of 1848 was entirely propitious, while that of the past was not. Their crop was nearer to a crop than any section, as a section, made last year; but together it was short of the one preceding. The receipts, at New Orleans, are some 50,000 bales greater from thence than to the same date last year; but this is caused by the navigation of the Tennessee river having been opened from the beginning of the cotton season, and between the early shipments made to New Orleans and these by way of railroads to Charleston and Savannah. North Alabama and Tennessee are more nearly drained of cotton than at the same time of any former season, and it is from this point that buyers in New Orleans are calculating on receiving largely. The production in other countries, as indicated by the imports into Europe, and by other most reliable accounts, is on the decline, and the past crop of India. is said to have been badly injured; hence, the supply must be less than last year, when it is remembered, too, that the advanced prices here in June, July and August, caused every bale which could be abstracted from Brazil, Egypt and India, to be brought forward in last year's imports into Europe, and which caused them to be raised from 400,000 bales, in 1848, to 538, 00 bales in 1849. I put it down, the receipts into Europe from those countries, this year, cannot reach 450,000 bales. With regard to the probable production of cotton in this country hereafter, I may properly here remark, that its extension above its present average is not likely to soon take place, and for these reasons: All the lands suited to its culture have been bought up long since, and although new lands, more or less, are every year laid down in cotton, those additions are not more than equivalent to the entire abandonment, or, in other instances, deterioration of old lands continued in cultivation; and the diversion of labor steadily taking place from cotton for other industrial pursuits, such as construction of railroads, working on and in factories of various kinds, &c., must interfere with increase. The United States crops for the four past years were-1846, 1,779,000; 1847, 2,34,000; 1848, 2,729.000; 1849, 1,900,000 bales. The average of the first three years, would be 2,285,000 bales-of the three last years, 2,256,000 bales, or of the four years together, 2,189, 00 bales. These figures very clearly and properly indicate what our crops may likely be. The receipt of 1848, of 2,729,000 bales, it must be remembered, was by no means the growth of that year, as particularly in the Atlantic States and New Orleans, large quantities of cotton, of the growth of former years, were, from the improved prices of May, June, July, &c., forwarded to the ports. I estimate the quantity of old cotton received, to have been, In the Atlantic States,........................ Florida,........ Mobile...... New Orleans,.. Making....... 150.000 bales. 25.000 66 and reducing that crop to 2,429,000 bales. As the whole of the season of 1848 was, from beginning to end, unprecedented'y favorable, we may put that down as our highest probable point of production; at all events, until the prices permanently advance to figures inducing a return to investments in this culture, instead of those which have proved so profitable-manufactories, railroads, &c. Louisiana Texas and Florida, are daily increasing their sugar culture upon the sites of former cotton plantations, and even on the Alabama and Tonbigbee, in Alabama, the culture has commenced, the cane ratooning finely, and this year we have received consignments from several planters, of this article, so rapidly increasing in consumption. I have devoted much space to this very important branch of the subject, which I am in hopes will not diminish our wish to carefully examine the next. CONSUMPTION. 104,000 In the tables of Messrs. Collman & Stolterfoht, of Liverpool, accompanying their cir- Bales. cular of January 25th, inst., they put down the consumption of cotton in Europe, 2,477,000 They add to that for direct shipment from the United States, to points not included in their tables, in Russia, Italy, Sweeden and Spain,........ Messrs. Wilson, Hallett & Co., of Liverpool, in their circular of 1st January, add to this, for diminished stocks in the hands of manufacturers,........................................ United States consumption,.......... 90,000 518,000 Making a total of consumption in Europe and United States of................ 3,189,000 This enormous consumption has taken place, and replies to the most diligent inquiries satisfy me, that no market is burthened with a stock of manufactures in excess of its wants, which establishes a fact of commanding importance, namely that this immense manufacture was the result of legitimate demand, and we have the encouraging assurance, that while the beauty, convenience and cheapness of cotton fabrics cause them to swell, with the swell of civilization, its production is confined within a limited space, and can nowhere be raised in competition with ourselves. All that is being said in relation to the English manufacturers influencing their government to adopt measures forcing the cultivation of cotton in India, &c., is as ridiculously ignorant as their resolutions, last fall, were, that "cotton worms and overflows were humbugs" Their government, in this enlightened era, will adopt no measure agreeing to give one pound sterling for ten shillings. Having considered the extent of this crop and production, and the consumption of the past year, I now come to the PROSPECT OF PRICES. In regarding them, the supply and consumption are mainly important, but there are kindred dependencies which exercise great influence over them. The supply and price of food, the abundance or scarcity of money, state of trade, and the political condition of he leading governments, are to be carefully examined. I take pleasure in running through these with you. Several successive fine harvests, the abolition of the duty on breadstuffs into Great Britain, have together contributed to place the price of food at a low figure, and ensures its continued sufficiency. Money is not only abundant and interest unusually low, more bullion in the bank of England and bank of France* than was ever before known, but the prospect is decidedly good that it will so continue. Trade has never been on so large a scale, more active and on so safe a basis. The political condition of all the principal governments in Europe, is a most gratifying and satisfactory one. Over two years ago, monarchy in Europe was convulsed, and the embryo begotten over seventy years since in France, suddenly threw itself into existence, and over thirty-five millions of free people rejoiced in their new birth. The yearnings and fond dreams of the people, of substantially the most enlightened nation of Europe, have been accomplishedrealized. Having pruned off much that was monarchical before, the transition to a republic was not violent, and when the polls were opened for all male citizens over twenty-one years of age to vote for his representatives and president, they enjoyed it with as much order as if they had been always accustomed to it. The high and formidable position of France among nations makes the consideration of what she will or may do of profound interest; and having examined the subject very closely, permit me to give my humble opinion on it. Playful and polite, frequently regardless of dollars and cents, I find her people quick, clear and correct in their perceptions. The system of instruction, which has been more or less persevered in since the long and brilliant reign of Louis XIV, in the seventeenth century, has improved on improvement until the whole atmosphere of France is enlightened, and hence the frequent assertion, that the French are ignorant and unable to appreciate and understand the blessings of civil liberty, will, on examination, be found entirely wrong. Counter revolutions have been vehemently predicted within thirty days, ever since we received the news of the revolution of February, 1848, yet over two years have elapsed and the only revolution which has transpired, has been the adoption of a written constitution and the complete formation of the republic. The intelligent correspondent of the National Intelligencer, in his last letter of 18th February, from Loudon, says: "We think we are warranted in asserting, * Over £34,000,0.0 sterling in them. 64 that the condition of France is improving in every respect, and in every class of people, excepting in the case of the agriculturists. The price of grain is falling every day." "With these exceptions, the condition of France, both in Paris and the provinces, is admitted, even by the opposers of the government, to be satisfactory." The specie in the bank of France is said to exceed the currency." Further, McCulloch, in his Geographical Dictionary, in the last paragraphs of the last division of the article on France, when he is considering the probable continuance of the then existing order of things under Louis Philippe, says: But though monarchy should be subverted in France, we look upon it as the nearest possible delusion to imagine that there can be anything like a repetition of the enormities and outrages that accompanied the revolution of 1789. Society is now arranged on a totally new basis; there are few or no abuses to rectify; the people are not sweating from the oppression of a host of feudal tyrants." Provided, therefore, they be left to arrange their internal affairs as they may judge best, we incline to think that the other European nations have little to fear from any changes that may take place in the form of government in France. At present, it is a democracy with an hereditary head; the only change likely to happen, is to a democracy with an elective head." Views on so important a subject, so sagaciously expressed, should aid rapidly to satisfy the nervous that there can be no revolution in France. To abandon the privilege of universal suffrage and their constitution, cannot be feared by the thoughtful and intelligent. Well, as to the progressing improvement in the condition of the people in all the other leading governments, their political quiet, &c., not a word is requisite. 66 In conclusion, I will deduce, from the foregoing, that cotton will advance largely the present year, and maintain a high price another. Bales. I have shown it is not probable the crop of the United States will exceed......... 1,900.000 The supply in Europe, from other countries, will not exceed..................................... I have shown that the consumption of 1849, was... 450,000 2,350,000 3,189,000 839,000 Leaving a deficit for 1850 of 839,000 bales, or largely above the entire fag-ends of stocks reported everywhere. With regard to the supply of cotton, Messrs. Collmann & Stolterfoht remark, in their valuable circular of 25th January-"This is a matter of great anxiety during the uncertainty of the extent of the crop of the United States. Moderate estimates fix it at 2,100,000 bales; while others, judging from the large receipts in the ports, calculate upon nearer 2,400,000 bales. Even assuming the largest figure, Europe could not possibly receive more than 1,800,000 bales, after the wants of the United States are supplied, and from other sources we could at most, with the help of high prices, receive 500,000, which would barely suffice for a reduced consumption, assumed as above, without trenching on the moderate stocks with which we begin the year." Let us examine the chances of Europe to get this 1,800,000. We have by the Prices Current of yesterday, Saturday, March 23, stocks in our ports 569,000 bales; to come in, say 250,000; making 820,000 bales. By this Price Current, we have exported to the North, net 422,000 bales, and the North will require 178,000 bales more for her consumption; but, putting her consumption at 550,000 bales per annum, for twenty-five weeks from 5th March, she will require 264,000 bales. However, take 178 000 bales from the 820,000 on hand and to come in, and 642,000 remain for Great Britain, France and the Continent. Add this 642,000 bales to what they have to-day got, say Great Britain 523 000, and France, &c., 275,000, and Europe will together get 1,440 000 bales, instead of the 1,800,000 bales, which Messrs. C. & S. say would barely suffice for their reduced consumption. Do these figures not prove, in connection with all the favoring, concurring causes enumerated, that cotton will and must advance? I do not think there can be a question as to the result, and will only add, with regard to prices this year, what prices have ben. From 1795 to 1835, McCulloch's Commercial Dictionary reports cotton to have averaged, in Boston, over 20 cents a pound. The average for the following years, in Mobile, was, as reported in our Annual Prices Currents, for 1e33-4, 14% to 15%1⁄2c.; 1834-'5, 17 @ 17%; 1835-6, 14 to 19; 1836–7, 1034 to 16; 1837-'8, 71⁄2 @ 121⁄2; 1838-'9, 121⁄2 to 10%, and, in 1825, it advanced to 28 pence a pound." That prices must be high another year, it will be seen that the consumption of 1849 was 3,189,000, and it is increasing and destined to increase, if the raw material can be had. Without calculating for increase, let us allow that the cousumption of 1850, would be. 1851,.... And let us see what is the possible supply of cotton for these years, say for 1849-'50 Bales. 3,189,000 3,189,000 6,378,000 leaving an insufficiency at our highest estimated crop for this year, and possible crop of 1850-'1, of near one million bales. What must be the result? High prices. 9. THE COTTON CROP OF 1850-251. There can be no question that we are to have another short crop of cotton. On almost every hand, except, perhaps, in Florida, the cry is raised and cannot be called into doubt. The result upon prices must be deeply felt. The failure of two successive crops, in a time of general peace, is an event which will have the most marked influence. It satisfies us of the truth of a position we have long held, that the average supply of this staple is limited, and has, perhaps, already reached its height. The corollary follows, that prices must rule a great deal higher, on the average, than they have done-the cost of production remaining unchanged and consumption advancing. We write this paper at the close of June, and annex a few reports from the planting States, relating to the month of May: NORTH ALABAMA.-There is a general apprehension among planters, in this section of the country, as to the prospects of the present cotton crop. There have been such frequent and heavy rains, that the crops in the low lands have been flooded, and destroyed in some instances, and those on high lands have been greatly injured. Cold nights and winds have greatly increased the injury. Some planters express the opinion that they have not half a stand, and we have heard of none who expect to make a full crop. TENNESSEE. We still have rainy weather, and the accounts from our planting interior are most unpropitous. It is thought, that, under the most favorable weather now, not more than half our customary crop can be made. The continuous rains and chilling atmosphere have rotted most of the seed in the ground, or so diseased the young plant, as to settle the matter for this year. Hundreds are plow ng up again, and others would do so, but for the scarcity of seed. However, our planters should not complain very bitterly, as they have not had a really short crop in ten or twelve years. LOUISIANA. We continue to hear most distressing accounts of the effects of the overflow. By a gentleman, recently from that district of the State, we learn that the Tensas and Ouachita rivers are both over their banks, and that all the neighboring plantations are submerged. In Tensas parish, of which he spoke more particularly, he said the desolation was very great, extending to the destruction of the crops as well as of the stock, and depriving many plantations, not only of all shelter, but also of all food for the proprietors and their negoes. MISSISSIPPI. It certainly is the fact, that this spring is the wettest, coldest and most backward of any that we have had for many years. We have been hoping and expecting, for pleasant, settled spring weather, for many weeks. But we have been doome to continual disappointment. In consequence of the weather, many planters have had to plant their cotton the second time. Corn is small and does not look well. It is too early to predict anything about what the crop may be next fall. We can only say that, at present, the prospect is dull and gloomy enough. DEPARTMENT OF MANUFACTURES AND COMMERCE. 1. SOUTHERN FACTORIES. THE number of cotton factories in four of the southern States is as follows: Tennessee,. 30 11 36 36,000 16,962 51,140 36,500 $100,000 500,000 121.600 1,000,000 2. COTTON FACTORIES IN ALABAMA. 12.000 6,000 27.000 15,000 We were shown last week some samples of cottonades, ginghams, checks and osnaburgs, colored and plain, made at the factory in Huntsville, which, for quality and durability, would compare with similar goods made in the manufacturing towns of the North The colored goods were excellent, and, were we not assured to the contrary, we should have pronounced them eastern goods. The factory at Florence is doing a thrifty business. It works forty-six looms turning 1600 spindles, and produces 80,000 yards of cloth per week. Besides this large amount of cloth, it manufactures, also, 6,000 dozen of thread per week. The weekly consumption of cotton is about 6,000 pounds, averaging 750 bales of cotton per year. As an instance of the pro perity of factories in this region, a new one is about being established on the same stream, on the opposite side, which it is calculated will consume 40 bales of cotton per week. The factory in this city is about increasing the number of looms. At this time it works only forty, which are chiefly employed in manufacturing the four qualities of goods. In a few weeks the present number of looms will be increased to seventy-two. The cloths made at this factory are in high repute and meet with ready sales. 3. LIST OF COTTON FACTORIES IN THE STATE OF ALABAMA. The machinery of the Mobile factory has been contracted for, I understand, and that of Autaugaville is now in the mill. 4. ANOTHER COTTON FACTORY. D. P. The Charleston Mercury, in speaking of the satisfactory results attending the working of the present Charleston cotton mill, of which Gen. C. T. James was the engineer, thus alludes to a new one in contemplation in that city: "We learn with m ch satisfaction, that his highly liberal offer to subscribe for half the stock of a $300,000 cotton mill, will insure, at an early day, the erection of a factory in our city on an enlarged scale, and which will compare favorably in style, finish and product, with any ever built in this country or Great Britain. The remarkably practical genius of Gen. James, his wide experience in all that concerns the cotton manufacture, and his careful study of all the questions connected with its successful introduction into the southern States, give great value and interest to the conviction he has expressed, and so strongly backed, in favor of the adaptation of Charleston for the prosecution of this great department of industry on an extensive scale. The extent to which he desires to identify himself with our manufactures is most gratifying proof of his |