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for low to good round average lists, but subsequently fell to 4% a 44 cents, at which range the bulk of the sales were made. The market closes with a stock on sale, including all descriptions, estimated at about 10,000 bales, and a total stock on hand, inclusive of all on ship-board not cleared, of 37,401 bales.
The total receipts at this port since 1st September, 1847, from all sources, are 1,213,805 bales. This amount includes 25,072 bales received from Mobile and Florida and from Texas by sea. [That portion of the Texas crop which reaches us via Red River, cannot be distinguished from the product of Louisiana.] Deducting from our total receipts the above amount received from Mobile, Florida and Texas, the remainder shows our receipts proper to be 1,188,733 bales, or an increase of 481,409 bales as compared with last year. The total exports during the same period are 1,201,897 bales; of which 654,083 bales were shipped to Great Britain, 140,968 to France, 154,807 to the North and South of Europe, Mexico, &c., and 252,039 to United States ports, including 1500 bales to Western States. The increase, as compared with last year, is 268,715 bales to Great Britain, 45,249 to France, 70,887 to the North and South of Europe, &c., and 92,538 to United
The total receipts at all the Atlantic and Gulf ports, up to the latest dates received—as shown by our General Cotton Tableare 2,325,180 bales, against 1,767,461 bales of same dates last year; showing an increase of 557,647 bales. This amount, however, it should be understood, does not represent the total crop of the United States, as the grand result cannot be attained until full returns up to the 1st September are concentrated at one point. The duty of making up the total crop has for a series of years devolved upon the editors of the New York Shipping and Commercial List; and properly so from the nearer proximity of their point of publication to Europe : and should the forthcoming statement be made up on the usual basis, what with the receipts at Mobile, Florida and the Atlantic ports, between the last dates in our table and the 1st September; the stocks on hand at Macon, Augusta and Hamburgh, and the receipts overland at Philadelphia and Baltimore, it is probable that the total crop of 1847-8, as thus computed, will not vary materially from 2,350,000 bales.
Having thus presented the most prominent phases in the progress of our market during the past season, from its opening to its close, we now come to the point which claims of us some remarks in reference to the prospects for the coming year. On this branch of our subject we readily confess to great embarrassment. We have ever been extremely cautious about putting forth prophesies in regard to an interest of such commanding magnitude, and the experience of the past season has not been calculated to increase our confidence in our own prescience. Disappointment and disaster have been produced by causes wholly unlooked for at the opening of the season, and instead of the realization of the encouraging prospects which then appeared in view, events have occurred which have baffled all calculation, and which have marked the past year-particularly in regard to Europe-as among the most prominent on record for prostrated mercantile credit, and financial derangement. These events have already been referred to, and are familiar to all; and
as no permanent result has yet been attained the uncertainty in regard to the future is thus greatly augmented. There are, however, some elements of favorable promise, which we shall briefly refer to, and among the most prominent is the prospect of abundant food crops throughout Great Britain and the various countries of Europe, which will modify one of the leading causes of depression that have been brought to act upon the Cotton interest during the past two years. Then the stocks of the raw material in Europe are still moderate, though somewhat exceeding the amount on hand at this period last year; and as the supply of goods in the hands of the manufacturers is understood also to be moderate, and money abundant in Great Britain, at a low rate of interest, it would seem only to require a settlement of the political and social questions which have for some time past agitated Europe, to restore confidence and give an upward impulse to the Cotton trade. Already is Great Britain recovering in her ratio of consumption, and we find that while in 1847, the weekly average in the United Kingdom, for the entire year, was 22,230 bales, that for the first six months of the current year has risen to 26,242 bales. In this country there has been a material increase of consumption during the past over any previous year. In the Statement of the Cotton crop of the United States, as
made up by the Editors of the New York Shipping and Commercial 7 List, the quantity put down as “taken for home use” in 1846-7 was
427,967 bales; but--as they state in a note—this did not include any Cotton manufactured in the States South and West of Virginia.” Should this item be made up on the same basis for the past year it is likely to reach some 500,000 bales; and when to this is added the quantity consumed in the various manufactories South and West of Virginia, the actual amount “ taken for home use” during the past year will probably be found to have reached, if not exceeded, 550,000 bales. Besides, preparations are making for adding largely to the manufacturing power of the country, particularly in New England, and it is probable that the coming year, with ordinary prosperity, will show a still further increase in the home consumption.
The question of supply, which it may be expected of us to make some allusion to in this connection, has heretofore been one of absorbing interest; but the extraordinary events of the past year have in a material degree diverted attention from this point, as secondary to the more important one of recovering and extending the markets for the manufactured produce. Nevertheless we may venture a few general remarks touching the prospects of supply in this region, as they appear at present, avoiding—as it has ever been our custom to do-anything like a definite estimate in regard to a matter that is involved in so much uncertainty at this early period of the season. We may then state that up to within a few weeks the crops gave highly favorable promise generally. The plant was well advanced and healthy, and little or no complaint was heard from any section. True the rains commenced early in June, but they did not appear to be of that general and severe character to cause injury, but on the contrary, while the plant was in progress, their influence was favorable, particularly in ihe uplands. When, however, the plant was well matured, and the season for the
commencement of picking arrived—say in the latter part of July—the rains lost their beneficial character; and as they have since continued and become more general, attended in one or iwo instances by severe storms of wind, they have for some weeks past been productive of positive injury, by retarding the ripening of the bolls, beating the Cotton from those fully opened, and promoting the ravages of the boll worms, which are said to be quite destructive in several districts. Thus far, however, we have no authentic accounts of the appearance of the species of caterpillar, which committed such ravages in 1846; and should the remainder of the picking season prove favorable it would seem that at least a full average crop may be fairly calculated on.
The first bale of the new crop came to hand on the 5th of August, 1848, being four days earlier than the first arrival of the previous year; and the total receipts of the new crop up to this date are 2864 bales, against 1089 bales to same date last year, 140 in 1846, 6846 in 1845 and 5720 in 1844. The character of the receipts thus far gives promise of what may be termed a good crop, though as regards quality they are said not to reach as high an average as the early arrivals of last year. There have been sold up to this time only some 600 bales, at an extreme range of 64 a 9 cents, and at the moment prices are little more than nominal at a range of about 6} a 7 cents for Good Middling to Middling Fair. In most former years the early receipts have excited considerable competition, particularly among buyers for France, Spain and the North, but the present season is entirely deficient in this advantage, and thus a heavy market appears in view, at least for some time to
Comparative Arrivals, Exports and Stocks of Cotton and Tobacco at New Orleans, for ten years—from 1st Sept. each year to date.
COTTON-BALES. Years. Arrivals. Erports. Stocks. Arrivals. Exports. Stocks 1947-48 1,213,805 1,201,897 37,401
55,992 60,364 14,954 1846-47 740,669 724,503 23,493
55,598 50,376 22,336 1845-46 1,053,633 1,054,857 6,332 72,896 62,045 17,924 1944-45 979,238 984,616 7,556 71,493 68,679 7,673 1843-44 910,854 995,375 12,934 82,435 81,249 4,859 1842-43 1,059,642 1,089,870
4,873 1841-42 740,155 749,267
67,555 68,058 2,255 1840-41 822,870 821,223 14,490 53,170 54,667 2,759 1839-40 954,445 949,320 17,867 43,827 40,436 4,409 1938-39 578,514 579,179 10,308 28,153 30,780 1,294
Sugar. At the date of our last annual report the Cane crop, then advancing to maturity, presented most flattering promise, and in our closing remarks under this head we took occasion to state that there was good reason to expect that the product of this important staple of our State would exceed that of any previous year since the introduction of its cultivation. This result has been realized, beyond all question, though we are again unable to present the exact amount of the crop, and for the same reason stated last year, viz: that the parties who have heretofore ascertained the product of each plantation annually, and published state
ments enibodying their researches, have not resumed their labors. We have again, therefore, to resort to popular estimate, and this places the crop at 240,000 hhds., exclusive of " cistern bottoms,” being an excess of 100,000 hhds., over last year, and of 40,000 hhds., over any previous year. This, with 4,000 hhds., estimated to be on hand at the close of last season, would make a supply of 244,000 hhds. The distribution of the crop, as nearly as can be ascertained, has been as follows, all the items being necessarily estimated, except the exports coastwise, which, according to our table, are equal to about 92,000 hhds., including the shipments out of the State, from Attakapas; consumption of the city, and of places in the neighboring States, furnished in small parcels, of which there is no record, and including supplies for the army in Mexico 15,000 hhds.; taken for refining in the city and State, 10,000; stock now on hand in the State 12,000; leaving as the quantity taken for the West 115,000 hhds. This would give the West 45,000 hhds. niore of Louisiana sugar than was estimated to be taken last year; but it should be borne in mind that she then took of Cuba sugars equal to about 20,000 hhds--making her actual supply 90,000 hhds. This year the imports from Cuba have been comparatively light, being barely equal to about 5,000 bhds.; and supposing the West to have taken one-half this quantity, the actual increase over last year would be about 20,000 hhds., which is not an improbable amount, considering the low prices, the increase of population and the extension and improvement of the facilities of transportation. The quantity shipped to the Atlantic ports is equal to about 84,000 hhds., or an increase of 38,500 hhds. over last year.
With respect to the growing crop, it seems to be generally conceded that the prospects for a large yield are by no means as flattering as they were at this period last year. The Stubble, or Rattoon Cane, is represented in many sections to be almost an entire failure, and the Plant Cane generally is said to be less near to maturity by some weeks; thus rendering the liability to damage by frost more imminent. It is true there has been a considerable increase of cultivation, particularly on Red river, some of the upland Parishes and in Attakapas, but it is supposed that other adverse circumstances will more than counter-balance this advantage, and that in no event is the crop likely to reach the amount produced last year. In our neighboring State of Texas the Sugar culture is steadily advancing, and intelligent parties with whom we have conversed estimate the product of this year at 4,000 hhds. The following table will exhibit the annual product of Louisiana for a series of years, by which it will be seen that the Cane culture is liable to remarkable fluctuations in its results, according to the character of the seasons. Crop of 1847, 240,000 hhds.
Crop of 1838, 70,000 hhds.
1829, 48,000 1839, 115,000
1829, 99,000 <<
5 a 71 3 a 51
In regard to a market for the coming crop, we are under the impression that the prospects are in favor of a higher average than was realized last year, even with very full yield, as the requirements of our own country are constantly increasing, while the product of several of the West India Islands, which has heretofore been brought into competition with our own staple is likely to be reduced to a comparatively unimportant amount by the voluntary abolition of slavery on the part of the home governments, and by servile insurrection. The same causes will reduce the supply for the European markets, and a stable arrangement of European difficulties, which would re-establish confidence and revive commerce, would doubtless tend to rescue this important staple of our State from its present depression, on both sides of the Atlantic. Comparative Prices of Sugar on the Levee, on the first of each month,
for five years. 1847-8 1846-7 1845-6
4 a 7} 6 a 6 5 a 67 5 a 63
61 a 9
5 a 63 6 a 7
5 a 7 4 a 53 5 a 61
4 a 61 3 a 53 41 a 64
44 a 61 27 a 51 4a 74
22 a 54 5 a 71
54 a 7
5 a 67
5 a 74 June, 14 a 4 5 a 7 4 a 61 44 a 61 47 a 63 July, 2. a 47 5 a 77 4 a 64
44 a 61 4. a 67 August, 27041
44 a 71
4., a 63 Comparative Prices of Molasses on the Levee, on the first of each
month, for five years.
28 a 32 15 a 22 24 a 27 26 a 28 18 a 21
28 a 32 20 a 25 21 a 24 24 a 26
14 a 204 Dec. 19 a 191 23 a 23
20 a 204 a 202 20 a 21
16. a 171 22 a 23
144 a 16 22 a 23
224 a 23 204 a 21
23 a 24
25 a 26 23 a 25
24 a 27 25 a 26 June, 15 a 20 26 a 30 18 a 22 18 a 27 24 a 25 July, 15 a 20 26 a 30 15 a 20 20 a 27 24 a 26 August, 15 a 20 28 a 31 15 a 21 26 a 28 25a 261
45 a 7
4 a 6
2; a 5
54 a 8
20 a 21
Western Produce. Our records show an immense falling off in the operations in the leading articles under this head during the past year, as compared with the season ending the 1st September, 1847. It will of course be remembered by all that a famine in Europe had produced an extraor