Newspaper Page Text
amwrjx—- ',-amm - —ij■—■—■!■ w mini g-- ■
"^"•■■•■■■■■■■B*f^! , f ,- “ U *H* l n ,T r J? 1 • l *'?l**"**!S , f!“S' ,^ fc, ’« , *«-*- "••ft***"- »»»*u W.HM.U.,, _ m M _ Wll
WILLIAM E. JONES & Co. AUGUSTA, Ga. THURSDAY MORNING, AUGUST l 1839 -™-— —
- . .. ’ ' Voi. HI No. M
THE CHROMCLR AND SENTINEL.
PUBLISHED,
DAILY - , TP.I-WEEKLY, AND WEEKLY,
At No. Broad-street.
terms:
Daily paper, Ton Dollars por annum, in advance.
Tri-Weekly paper, at Six Dollars in advance or
Seven at the end of the year.
Weekly paper. Three Dollars in advance, or Four at
the end of year.
CMiioNnci, 1 -: and sentinel.
A II G U S T A.
WEDNESDAY MOD KING, JULY 31.
We present to our readers to-day, anuinber of
articles from the papers of Philadelphia and Now
York, tu relation to the Cotton Circular, recently
published from Macon. It will be perceived that
various opinions arc entertained respecting the
influence it is likely to have and the consequen
ces which may follow it.
Wo give also the manifesto of the Cotton Spi
nners of England, who it will be seen, so long ago
as last winter, became offended with certain
Hanks for advancing on Cotton, and entered in
to combinations to use less of our cotton, than
they had done, in order to bring down the price.
The contest is now fairly opened—the Manufac
turers of England, vs. the Cotton Planters of
America.
We do not by any means agree with the Com
mercial Advertiser, that the Spinners can hold
off as long from purchasing as the great body of
the interest can from selling. The
millions of operatives must have bread, and in
order to get bread they must have employment.
The employers may work short hours for a
while, but they dare not turn loose, frantic and
desperate from hunger, the population dependent
upon them for the necessaries of life. On the
other hand, the cotton planting States can raise
within themselves every article of food in the most
profuse abundance —we can live and live well,
whether we sell a pound of cotton or not, and we
do hope that every one who raises a bale of it,
will look into the merits of this contest and stand
manfully for his own interests which arc im
minently in danger from the domineering cupidi
ty of the manufacturers.
Correspondence of the (Philad.J North American.
New York, July 26, 3 P. M.
The British Queen has not yet arrived. The
United States Bank announces its readiness to
supply all orders for exchange by the Great Wes
tern at 10 per cent. Bills are plenty from other
sources at that rate and the tendency of the rate
is downward.
Stocks are better to-day. Cotton about the
same. Genesee Flour brings 55,75 —Ohio 55,50 a
62—other varieties about the'same. A parcel of
North Carolina Wheat sold at 131 cents.
From the Philadelphia Inquirer.
An Important Movement in the South—
The Manifesto of the Manchester Spin
ners.
We crowd out several articles this morning,
in order to give place to two documents of the
deepest importance to the commercial world.—
Th e first is an exposition of the views of the
Manchester spinners; the second, a Cotton Cir
cular from the South, signed, among others, by
Gen. Hamilton, George M'Uuffte, John Branch,
and several other of the. most distinguished and
influential citizens of the South and South-west.
We give also the proceedings of a recent public
meeting at Macon, Georgia, at which the sug
gestions of the Circular were heartily responded
to, and Delegates were appointed to a Great
Southern Convention, to he held on the fourth
Tuesday in October. Should the movement he
followed up with any great degree of unanimity
in the other cotton growing Slates the measure
may be attended with important results. It strikes
Ais, however, as utterly impracticable, in the pre
'scut condition of affairs, to bring about such a
union of action and of interests as is proposed.—
The measure has been suggested by gentlemen
of great weight of character, much political and
commercial experience, and unquestioned integ
rity and patriotism. Their views and suggestions
are entitled to calm consideration, and, at the
present moment, possess the deepest interest.
Ths Manifesto of the Cotton Spinners.
(From the Manchester Guardian, July 3d.J
THE AMERICAS COTTOX SPECULATION.
As the Great Western will sail on Saturday
next for the United States, we think a few obser
vations upon the origin, present slate and proba
ble consequences of the extraordinary speculation
in cotton in the United Stales may not be entire
ly without interest on either side of the Atlantic;
and if they should have any effect in checking
the extreme disposition of the American Planters
and merchants to resort to speculative means of
bolstering up the prices of their great commodity,
to the great injury of tile English manufacturers
in the first instance, and their loss ultimately, our
purpose in writing them will have been fully
answered.
As some of the American speculators have re
cently urged the agreement entered into by cer
tain spinners in this neighborhood to work short
time as an excuse for the speculative advances
which they propose to make, or rather which
they wish to obtain, it is necessary to go back a
little, and to sec what was the real origin of the
speculation in America, and of the diminished
consumption in this country. On referring to
our own file for the last year, we find the follow
ing article, which appeared on the 291 h of De-
I cember, some time before there had been any
agreement to work short time amongst any por- j
tiontif the spinners in this country :
“The continued action of the banks of the
United States on the cotton market, ijy tbeir ex
traordinary and unwarranted efforts to bolster up
prices by advances to the planters, to enable them
to keep their cotton out of the regular markets,
has begun to excite a feeling of alarm and irrita
tion in this neighborhood; for although it is
well known that prices must in the end be regu
lated, as they anight to be at all times, by the
natural operations of supply and demand, it is
still easy to see that the interference now practis
ing in the southern Stales of America mav very
probably have the effect of temporarily forcing up
prices here to a very serious extent; and the
spinners will be compelled either to stop their
works, or to purchase the raw materials at rates
which they know cannot be permanent, with the
certainty ofloss from its subsequent decline in
value. That the system of advances from the j
banks, with the view of keeping cotton fora time
out of the market, is now carried to a very con
siderable extent, the recent advices from all parts
of the cotton growing slates abundantly testify.
On Saturday last we inserted a circular issued
by Mr. Ingersoll, nominally ns agent to Hum
phreys & Biddle, of Liverpool, but really as agent
to the Lank of the United States; and we now
find in the Now York Daily Express of the 7th
December, another circular of the same kind, but
emanating from a different quarter. It is in the
following terms.
“MISSISSIPPI UNION BANK,
“Jackson, Nov. 16, 1838.
“Sin—The directors of this institution, believ
ing that the cotton crop of this State will fall
short, and that planters will postpone the sale of
their crops until the deficiency is known, propose
to advance 60 dollars for every bale of good eoi
fon, weighing 400 lbs. delivered to the agents of
this bank, to be appointed at Ihe following ship
ping points, viz. at Natchez, Vicksburgh, Grand
Gulf, Rodney, Manchester, Techrna, Salartiu,
Marion, Greenwood, Grenada, Columbus, and
Mississippi city. The owner to deliver to this
bank the said agent’s receipt, vvitli the mark,
number and weight of each bale, together w’lh a
note payable twelve months after date, with two
or more good securities, to be submitted to the
hoard for said advance.
“The cotton to be shipped to Liverpool or such
other market as may be designated by the party
delivering the same, at his risk and expense, and
sold on account of this bank. The proceeds, to
gether with the exchange, both foreign and do
mestic, to be credited on his note, and the rate of
the domestic exchange to bo established by the
current rate at the time the account of sales is re
ceived.—Respectfully,
“ W. P. GRAYSON, Cashier.”
“ Now, as the advance mentioned in this cir
cular, sixty dollars a bale, amounts to fifteen
cents a pound, which, at the time when the cir
cular was written, exceeded the market price at
New Orleans, and with the freight and charges
to which it would he liable, exceeds also the cur
rent price in this country at the present moment,
it is not easy to conceive what legitimate object
the Mississippi Union Bank can have in making
such advances. But it is alleged in one of the
American papers, that another establishment in
Mississippi (the Brandon Bank, we believe) has
offered to advance 70 dollars per hale! or 17£
cents per pound, and this on cotton at that time
worth 14 to per pound in the New Orleans
market!”
The circular of Mr. Ingersoll alluded to in the
preceding extract, turned out, as our readers may
recollect, to have been wholly unauthorized, either
by the Lank of the United States, or by Hum
phries & Biddle; but the circulars of the Missis
sippi Union Bank and the Brandon Bank were
perfectly genuine; and it became well known in
this country, that those and several other estab
lishments of the same kind were advancing large
ly at most extravagant rates upon cotton consign
ed to their order; and that, consequently, a very
greatadvance had taken place in prices in all the
ports of the United States.
The effect of all these proceedings upon the
trade of Manchester and the neighborhood might
have been foreseen by any one who had paid at
tention to the occurrences of the last 20 or 30
years. The cotton spinners had had too much
experience of the results of former speculations,
and the issue of former predictions of deficient
crops, to place the slightest confidence in the
views of the American speculators—and as a bo
dy, they refused to act in accordance with those
views. Notwithstanding the palpable falling off
in the receipts of cotton at the American ports,
which appeared to corroborate the accounts of
short crops, the spinners gave no credit to those
accounts; because it was impossible to say how
far thesupply had been artificially checked, in or
der to favor the views of the speculators; and, af
ter working out their slocks, they gave with re
luctance the advanced prices which began to pre
vail on this side of the Atlantic. The buyers of
goods and yarns 100, who distrusted the results of
the speculation quite as much as the spinners,
were also disposed to clear out their stocks before
they ventured upon fresh purchases; and the too
rapid extension of manufacturing machinery for
thelastycar or two, having produced an accumu
lation of manufactures, which could have been
taken off only by means of low prices and gener
al prosperity—the effect ofthesejoint causes was
greatly to depress the price of manufactures as
compared with those of the raw material; anil the
spinners found, that an advance of some 2Jd. per
pound in the cotton they were buying at Liver
pool did no s cause an advance of more than a
farthing per pound in yarn.
That tills unsatisfactory state of things wasen
tirely brought about by the American speculation
we do not mean to assert; the probability is, that
without any such speculation the trade of the
spinner would not have been very profitable du
ring the present year; but there can bo no doubt,
that by the speculation the depression wasgteatly
aggravate !. The evil, as we have already ex- I
plained, did not consist in the high price of cot- I
ton, so much as in the general distrust of the sta
bility of that ririce, which was produced by a
knowledge of the speculative dealings in the Uni
ted States.—The buyers of goods, without paying
any particular attention to the relative prices of
raw cotton and manufactured goods, very natural
ly argued, that, if prices had been raised to acer- |
tain le.ve! by the speculative, advances of the 1
American bankers, they would be likely to fall I
considerably whenever those advances were with- j
drawn and the speculation wholly broken down, j
The disinclination to purchase might have been I
pretty much the same even if the prices had been j
lower than they were, provided there had been j
the same want of confidence in their stability,
How different would have been the situation
of all parties concerned, if the cotton crop had j
been, from the first, fairly put upon the market, |
and the price left to be determined by the natural '
operations of supply and demand ! If the quan
tity was so deficient as the planters allege (and
that there was a considerable deficiency seems j
now probable enough,) the fact would very soon ;
have been manifested by the deficient supplies, |
which, in the absence of speculative combina- I
tions, would have been taken as correct indica
tions of the amount of the crop. Prices would,
consequently, have risen, without materially
checking the consumption ; they would, probably, j
have been decidedly higher at the present mo
ment than they now are, and with a tendency
upwards, instead of being in a state of rapid de- j
dine, which, if we may judge from the following
facts, is likely to be carried considerably further.
It appears from the Liverpool United Brokers’
I Circular, that the stock of American Cotton in
Liverpool, on Friday last, was no less than 458,- I
! 920 bales, which without any further importa- :
tions, will afford a supply of 17,650 hags per
week, for the remaining 26 weeks in the year.
But the purchases for consumption of American i
cotton in Liverpool, during the first 26 weeks of
the year, have been only 278,117 Laics, on an av
erage of 10,700 bales per wee.';. And if we ns- !
suiik 1 that there were in the hands of dealers and
spinners at the commencement ol the year, about
80,000 bales more than at the present lime, the
consumption, during the first half of the year,
has not amounted to more than 13,000 bags per
week. And what are the prospects ol consump
tion for the latter half of the year ! Unless there
should he a very speedy break down of the spec
ulators giving confidence to dealers in and con
sumers of cotton goods, us well as to spinners and
manufacturers, the consumption of American
cotton for the second half of the year cannot ma
terially exceed that of the first. At the present
time, far from increasing, the consumption is
rapidly declining, the present week having wit
nessed the commencement of short time amongst
the spinners at Bohon (who have entered into
an engagement to work not more than four days
per week,) at Wigan, where ten mills arc now
standing entirely, and the remainder, with one ,
exception working half time on the average; and ]
in different parts of the country, where the con
sumption is diminishing every week, if, then,
the consumption for the second six months of the
year should not exceed that for the first sis
months, there will he on the 31st of December
next, 100.000 bags remaining out of the present
slock in Liverpool, together with the whole of
what may ho imported from this time to the end
of the year, which cannot be estimated at less
than 250,000 to 300,000 bales. With such a
stock at the conclusion of the year, and with a
coining crop of extraordinary magnitude, we
leave our readers to judge what are- likely to be
the condition of the parties who have engaged in
one of the most rash and insane speculations of
modern times. That they will be crushed bv the
weight of their undertaking, is already perfectly
clear; and the longer they persist in their present
course—the. more of temporary aid they may re
ceive from speculative bankers, the more will
consumption be diminished—the motesignal and
exemplary will be their punishment.—and the
more extensive will be the consequent derange
ment. of the commerce, and the agriculture, and
the currency of the United States.
Such arc the consequences of excessive specu
lation— such are the evils inevitably resulting
from attempts to monopolize a commodity in ex
tensive use, or to bolster up its price by artificial
means. This is far from being the first attempt
of tile kind that has been made with respect to
cotton, which appears to have invited more spec
ulation than almost any other commodity of equal
magnitude; and we believe no instance has yet
occurred where the speculation has not involved
in severe distress and suffering, if not in utter
ruin, the great bulk of the parties engaged in it,
and unfortunately the evil has not stopped there,
hut has always extended far and wide amongst i
those who were perfectly innocent of the errors I
which have given rise to it.
We fear that the planters and meichants of the j
Upited States are, as a body, for too prone to pn- j
gage in undertakings which are entirely inconsis
tent with the ordinary rules of commercial enter
prise; but they will be bad learners indeed if the
result of their present speculation does not make
some impression upon their minds.
From the Ncw-York Star.
The Cotton Circular.
On our fourth page will be found a circular
from the cotton growers of the South, signed by
several of the most distinguished planters and
written with force and ability. It arrives, we may
say, at a peculiar crisis, which probably was an
ticipated, but whether the views it contains can
lie carried out at this time and in the face of a
derangement of the monetary alliiirs in England,
and consequent inability of our Banks to come to
(lie rescue, remains to lie seen. We have both
our doubts and our fears of its accomplishing at
this time all that is anticipated. We arc happy
to perceive that events now crowding upon us of
a stirring and serious nature, have at length
aroused the South and West to deep considera
tion of tile profligate and ruinous course pursued
by our present rulers, in deranging the exchanges
and interfering witli the currency of the country.
Without a change of rulers the South and West
must see the utter impossibility of savin? the
country from bankruptcy, and its agricultural and
mercantile interests from utter ruin. Let the re
form commence at home, and bright and prosper
ous days are reserved for tile Republic.
From the Ncw-York Commercial Advertiser.
Our opinions in relation to this circular, and
to tlie plan it suggests, may be of very little im
portance; nevertheless we hold it right to express
them, because we are convinced that the course
proposed is wrong in principle, and will prove, if
carried into operation, not merely ineffectual for
good, but effectual for serious, extensive and per
manent evil.
The plan is simply to interpose the banks be
tween the production and the cornsumplion of
cotti n, with a view to increase the profits of the
former, by so controlling the market as to sustain
j high prices, without reference to the actual course
jofti e market. This is wrong in principle* It i
is taking the banks out of tluir legitimate line of j
operation, and concentrating their capital, which
j ought to be held at the service of all business,
j upon one branch alone.
But this is not the worst. The gentlemen
j who drew up the circular appear to have forgotten
i that for such an operation as they propose there
must be two parties in the field. The plan, if
| adopted, will at once afford the English manui'ac-
I turers a provocation to. and justification for, a
counter combination; and the cotton trade be
| tween England and America will he changed to
a war of capital against capital, not to promote
but to hinder employment. We shall behold the
j strange spectacle of men clubbing purses to keep
I ships from sailing and mills from working ; and
j the question will be, not which country shall dis
play most activity and enterprise, but most obsti
! nacy in doing nothing. The planter says to the
manufacturer, “you shall not have my cotton un
til you pay me one shilling sterling a pound for I
it;” and the manufacturer retorts with “I shall
not buy a bale of cotton at a higher rate than six
pence.” But, says the planter, “I have got a
1 combination of banks behind, and I won’t give
| in these five years;” “Very well,” answers the
manufacturer, “I have got a combination of capi
j talist behind me, and I won’t give in for ten.”
| Would not this lie a beautiful state of things I
: for the two countries to be in 1 Yet we have a j
perfect right to assume that it will inevitably fol- '
■ low the adoption of the pilau piroposed in this cot- j
\ ton circular.
But there might possibly be another conse- j
I quence, not adverted to in the exposition of the ■
| fourteen Southern gentleman. Cotton grows in I
other parts of the world besides the United States. ■
Supipose the English capitalists, growing very
savage and desperate, should take it into their
heads to apply all the stimulus in their power to
the production of cotton in Egypt, South America
and India. Suppose they should form planting
companies, and raise millions of pounds sterling
for investment in that business. Being roused to
a iger, there is no knowing what extremities they
mi<jht iro to; and we will not undertake to guar*
nntoo the impossibility of getting things into such
a train ns would enable them to supply themselves,
not only for u time but for all time, without ta
king a bale from the United Slates. Nay, we
would not he very sure that Texas might not
come into their views, and think it very good fun
to cut into the market which our Southern Stales
had sworn off from supplying.
We do not believe that there has yet been any
combination among the spinners in England,
other than that spontaneous combination which
springs from necessity. The manufacturers have
i discovered that the cotton business has been push
j ed on too rapidly, both there and here ; and they
I have taken the right way to remedy the eonse
| quent evil, by retracing their steps. But our
j cotton-growers obstinately shut their eyes upon
j the truth, and persist in the error which has
caused all the difficulty. There has been two
much cotton raised here—too much cotton spun
in England, and the price of the raw material,
as well as of the fabric, has gone too high. This
is the naked truth of the matter; and no possi
ble contrivance of combination or of any thing
else will bring matters right again, until the price
of cotton goes down and the production is di
minished
The spinners in England have sense enough
ito perceive this, and to act upon it. Having in
vested their capital in mills and machinery, they
would very gladly keep that machinery in full
employment if they could; hut like wise men,
they are willing to lose a part in order to save the
rest. They say, we should like to work our mills
every day, if we could afford it; that is, if there
was a market for our fabrics, and if we could buy
cotton at such prices as would leave us a reason
able profit on those fabrics. But if wo must pay
nine jience sterling a pound for cotton, we must
also lose money on our twist, because nil the mar
kets in the world are overstocked with cotton
goods, and w« cannot get remunerating prices,
Therefore we must cither pay less lor cotton, so
that we 111113* sell our twist at lower rates, or we
must buy less—there is no other choice fur us.
“ But,” say the Southern gentlemen, “you
must pa}* us the same prices for our cotton that
you did three years ago, when your twist com
manded the highest rates; if you do not you shall
have none. We have got the hanks to stand by
ns, and we don’t care about selling you a bale of
cotton these twelve months.”
11 the praclieal answer of the manufacturers
and capitalists docs not upset the theory of the
Southern gentlemen, we shall find ourselves most
egrcgiously in error.
From the Ncw-York Herald.
UIOHLY IMPORTANT FROM THE SOUTH ANOTH
ER COTTON CIRCULAR THE COTTON CRISIS
AITUOACUINO—A COTTON CONVENTION PRO
COSED DECLARATION OF WAR AGAINST THE
RANK OF ENGLAND AND THE MANCHESTER
SPINNERS.
Yesterday morning we received by the soulh
•cru .mail the “ Macon Messenger” of Thursday
last, .containing an account of a remarkable and
nowfi Public Meeting, held there, relative to Cot
ton, 'which may he considered the first of a series
of like meetings, to ho held all over the southern
country, for the purpose of organizing a great Cot
toniOonvention in October next, in order to
sustsan the price of Cotton in Europe and Amer
ica. against the movements of the Bank of Eng
land and the Spinners of Manchester.
Annexed will be found the Circular itself to
gether with the first meeting held in Maeon on
the subject.
I« reference to this matter we may now state
some historical facts, developing the character and
purposes of this singular movement in the com
mercial world. It will he observed that the dis
tinguished names ofGeneial Hamilton, of South
Carolina, and Governor JVTDulfie of the same
state, are appended to this document. From the
style and language Mr. M’Duffie is probably the
author and writer of this novel document, which
may he called the Cotton Declaration of Inde
pendence, as opposed to the interests of the Spin
ners and Bankers of England. The laic* anony
mous Circular, issued after prayers, from the
office ol S. V.S. Wilder, was written by General
James Hamilton, who has been in this city, dur
ing the greater portion of the summer, managing
Cotton and Texas, and is now in Newport wait
ing the denouement of this splendid movement
in the Cotton World. That Circular, however,
fell still-horn from the press, with the exception
ol a serious difference of opinion between S. V.
S. VV itiler and David Hale, in which affair Mr.
Wilder certified publicly that the Rev. David was
a “common liar.” No immediate duel took
place, nor was there any blood or holiness lost
between the heligeranls on the occasion.
The great Cotton holders, finding that an
anonymous war was no war at all—that war in
j disguise was rank cowardice—came out openly
at last, on the southern plan, and have chivalric
| ly put their names to the document, ready to
stand the hazzard of the die—price per pound,
j 11 to 17 cents. On the Oth of July this document
was written, and numerous copies of were sent
, out to Liverpool, London, Havre and Baris by
the Liverpool steamer on the very day of her
sailing. But the effect ot this document in Eu
rope will not he known here, till the Liverpool
steamer returns, which will he about the 16th of
August. At the same time, a copy was sent to
Macon, Georgia, fur the purpose of forming the
basis ol this curious movement, and the result, so
far, is seen in the accounts which we give to-day
from that quarter. The Macon paper contains
the following remarks on tire meeting and Circu
lar :
From the Mdcon Messenger, of July 18.
“ The Circular which has been sent to us by the
signers for publication, will doubtless occasion
much contrariety of opinion. There are so many
and such various combinations of interests, at
home, as weil as abroad, inimical to the grower
and holder of our great Southern staple, that an
opposition, and no doubt a very strenuous one
too, will he made against the proposed, as well as
every other project that may he devised, the ob
ject of which is to maintain a natural and re
munerating price for our productions.
The circular was listened to with a great deal
of interest, by a large meeting of our citizens,
and the views therein disclosed responded to in a j
series of resolutions, which were unanimously j
adopted—we trust that it will receive the consid- I
(■ration, tire importance of the matters therein 1
discussed, deserves, and that every Southern pa- !
per will promptly comply with the request of the
signers, and give it a general dissemination.”
'I bus lar has this singular movement made
progress. What is it ? It is a war between the
cotton holders and the cotton spinners—the first
backed by the American hanks—the latter by the
Bank of England. It is a contest about the price
of a great staple—whether it shall he 6to 10
cents, or 12 to 17 cents per pound. How will I
it tenpin ate 1 how will it end ? Is it founded on
right principles in trade? Does it involve any I
moral, social, political, or commercial results?
I o answer these questions will require a I
week—a month of newspapers. In Cotton Cir- !
■ rr ,| , m m
culurs aiul <’otton Conventions. such mm ns f
Hamilton, McDuffie, ran bent lho world. For
twenty years past they have hern the great ngi
lators ol tltis country, on every conceivable po
licy, and every imaginable politirnl principle.—
I Itey agitated the election of General Jackson
they agitated South Carolina nullification—they
agitated a Southern direct trade—now they have
t.ikrn to cotton, ami agitate a cotton war against
l-nr;land. The Colton Spinners and capitalists
cannot meet them in the naked game of agita
tion—hut we doubt whether a contest about the
price ol cotton is to be decided by Circular or
Conventions. Money is the arbiter in alt things
below. It the cotton holders can command ca
pital sufficient to hold it till next vear— a capital
equal to s2o,ooo.ollo—they ran do so, and thus
heal the Cotton Spinners. Success in this great
contest is us easy »s lying or cheating. ?t de
pends entirely on the possession of capital. If
they can command capital or credit, the Bank of
England will he defeated—if not, not.
But in the mean time, this strange, novel ami
unprecedented contest, will produce a greater dis
turbance in the commercial world than any event
that has ever happened inn time of pence. By
drawing a large proportion of capital to the cotton
trade in America, rveiy other article and interest
will be presssd to the ground—and to sustain the
price ol cotton, will help to reduce the prices nf all
other commodities from twenty to thirty percent.
Ibis is the natural consequence of an unnatu
r»l diversion ol capital from one or more interests
to another,
Its effects on social and political life will also
he revolutionary and unprecedented. “What
these may be, it is yet difficult to predict, but
there is every prospect that this movement, will
cause a greater disturbance in every avenue of so
ciety, in England and America, than any other
that Messrs. McDuffie & Hamilton over devised.
In England it must produce an extraordinary
sensation,and perchance some astounding,results,
so carry on the war. the spinners must throw
thousands of operatives out of employ—and the
want of employment among a populace excited
hy political passions, may lead to some convul
sions elan extraordinary character—perhaps ton
revolution. In such an artificial state of society
ns England presents, a general convulsion in
money affairs would inevitably lead to a social
and politic al revolution in the government.
In the meantime nil these movements, and
counter movements, give an interest to life, ami
make great business for the newspapers, for the
financiers, and especially for the devil.
Cotton.
We extract the following important tabula 1 *
statement from the Globe:
As an illustration of the effect which quantity
has on prices , we give below the number of mil
lions ol pounds of cotton exported in each year
Irani 1819 to 18138, and also the average price.—
Our authorities for utl the years preceding 1836,
arc the letter of the Secretary of the Treasury,
dated February 26, 1836, and the annual reports
ou commerce and navigation for 1836,1837, and
1838:
Year. Pounds exported. Price per lb.
1813 88,000,000 24 cents.
1820 128,000,000 17
1821 124,000,000 16
1822 144,000,000 10*
1823 173,000,000 11*
1824 142,000,000 15
1825 176,000,000 21
1826 304,000,000 11
1827 294,000,000 9*
1828 210,000,000 10*
1829 264,000,000 10
1830 298,000,000 10
1831 277,000,000 94
1832 322,000,000 10
1833 324,000,000 11
1834 284,000,000 13
1835 387,000,000 16*
1836 423,000,000 164
1837 444,000,000 14*
1838 595,000,000 10*
COMM EBCIAL.
Latest dates from Liverpool July 0
Latest dates from Havre July 3
Baltimore, July 27.
Coffee.— At auction to-day, the c.rgo of brig
Erie, from Jtio do Janeho, was offered and 1915
bags sold at 10J a 124 cts. The balance, 600 bags
was withdrawn for better prices. This sale com
prises the whole business of the w eek in Coffee, a I
operations in the article having been suspended
until the result of it was known.
Colton. —We note the sale of a tot of Mobile,
early in the week, at 15* a 17 * cents for inferior to
very prime. Since then we bear of no further
transaction.
Corn. —The sales of Md. while have been gen
erally made throughout the week at the uniiorm
rate of 78 cents for good shipping parcels. Sales
in like manner, of Md. yellow at 89 a 81 cents.
Sales of mixed Virginia at 77 cents
Hour. —I Inward-street. —The small receipts and
the very light stock of flour of this description now
in market, have induced boldcis to advance the
price a shade. We now quote at $5,87* to $6 from
stores,and at $5,62* from Hai road and wagons.
The demand is limited and sales confined tosmad
lots lor city consumption. Some parcels of Flour
from now wheat have reached the market, and are
held at $6,25 from stores.
City Mills Flour —Most of the flour ol this de
scription now being made is in fulfilment of con
tracts for new ; al prices ranging from $6,25 up to
$6,75. Lots of new, in market, are Iwld firmly at
$6,50, at which sales have been made. The stock
is but a mere trifle.
Susquehanna Flour. —We quoted at $5,87* a
$6, as in quality and freshness.
Provisions. —The transactions in provisions of
al! descriptions have been very light this week. —
Sales of several small lots of strictly prime Western
Bacon, assorted, have been made at 11* cents
We quote prime Baltimore cured Hams at 14a14*
cents, and Western at 12 a 12* cents. Western
middlings at luj a II cents, and Shoulders at 9* a
10 cents.
Whiskey. —Sales of large lots of lihds. have been
made this week at 35* a 36 cents, and extensive
sales of bbls. at 37* a3B cts. Retail lots of bhds.
arc occasionally sold at 37 cents, and of bbls. at 38*
a39 cents. The wagon price of bbls. remains at
33 cents, exclusive of the barrel.
MARINE INTELLIGENCE.
Savawh mi, July 29.
Cleared. —Ship Celia, Buckman, New Yorkj brig
New Hanover, Caily, Philadelphia
Arrived on Saturday. —Steamboat Cherokee,
Wray, Augusta; steamboat Hamburg, Wood, Au- j
gusta. j
CHARLESTON, July 30.
Arrived yesterday —Brig Tecumseh, Hinds, Ha
vana.
At Quarantine —A Spanish brig from Havana.
Cleared —Brig Jones, Fisher, New York.
Went to sea yesterday —C L brig Buenos Ayres, !
Stuart, New Y'ork.
Q fff RESIDENT DENTIST..— Dr. Munroe's
operating rooms, second door from Broad treet.on
Mcintosh-st., opposite the Constitutionalist offiee
march 13
l
VALUABLE IMtOI'ERTV FOR SALE,
r i H E Mibs.-ril.or ofli-n for sale, on the most ren
• sonat.tr terms, that well known and foshlon
watering place, the II LUC OX CPKIM.s
situated four and a ball miles from Athens, (ia,—
Attached to the Springs are two tracts of land
containing together seven hundred acres of land
on one o which are erected two excellent saw
mi s, both now in operation. One of these mills
will cut horn 1500 to SHOO foot of lumber , )C r day
lor whwh a ready market -an bo had at lair prices’
Li her tract will he sold separate from the other
I ersons desirous of purchasing such property arc
requested to call and examine for themselves.
The land is mostly in the woods, of a good
quality that which is cleared is fresh and in cul
tivation. JOHN JACKSON.
Athens. Oa.. July 10, IS JO. w&trwif
THE LlitiF.STuMl AND CllALV
aSswttk HEATH SPRINGS, Spartanburg Ois
liilliaijil tr,ct «S.C. ninety-five miles from Charles
i J1 ton, and fifty from Greenville.
Ihe undersigned Inn the pleasure to inform the
public, that the elegant and extensive accommoda
tions prepared for the reception of visitors at this
place, will be entirely finished by the lUlh of June
next, h rom three to lour hundred perrons ran be
nceommoda’ed—comfortable and airy rooms are
prepared for familes in tie large brick building, or
it preferred, fine apartments will bo assigned to
them in the different Cottager.
There is an abundant supply of lee, Wines, ke.
on hand. Amusements of every kind will he with
in the reach of visitors. The lonntry mound the
Springs admits of a variety of excursions, on horse
back or in carriages.
I lie Limestone Spring is a highly medicinal
water. In add tion to Lime, there ia found Magne
sia and Epsom Salts in il ; and tire great quantity
of C arbonic acid gas, constantly escaping from the
Spring, renders the water very light. To Dyspo A.
tics, and persons laboring under liver complaints.or
of constipated habits,experience enables us to say
that this water is invaluable, if any visitor labor
ing under any of these diseases lias ever visited
the place, and not been benefitted, it is to us un
known. There arc two line Chalybeate Springs,
one rising out of the Limestone Quarry, and the
other a short distance below it. In addition to Iron,
they arc supposed by many to contain other active
ingredients. Since they have been discovered,they
have been found to be very bcneticial to many
weak and debilitated persons.
The grounds about the Springs are beautifully
laid out, and afford many line and delightful walks.
Several intelligent and respectable gentlemen
have settled permanently at the Springs, and con
stitute at all times a delightful society. They have
made their settlements with a two-fold object,
health and the education of their children. For
this latter purpose they have established two e;:-
ccllent schools—a Male Academy, under the di
rection of Mr. Koosa, and a Female Academy un
derthe care as Miss Williams. Doth schools merit
every encouragement—they arc well conducted,
and imparting to their respective pupils, sound and
good education. Families visiting the Springs, will
have the opportunity of placing their children in
these excellent schoo at Mr. Saunier, will teach
Music during the summer months, his qualification#
are equal to any instruction which may be required
A competent instructor or instructress - in Dancing,
is expected, and will be certainly' in attendance to
nstruct all who may desire it,
These arc some of the inducements which are pre
sented to the public, to favor the Limestone Springs
with their patronage. \\ lien it is remembered that
this establishment owes its foundation lo tlie liberal
ity and patriotism of many gentlemen who have*
advancedlargc sums of money for the purpose of
presenting to the people of South Carolina and
Georgia, a place of health and relaxation; almost at
their own doors, it is to he hoped that it will not
languish, decline and die for the want of patronage.
Tiie thousands expended in Northern- travelling
may be saved, and the people of the seaboard and
the mountains may enjoy ail the mutual benefit of
travel and intercourse.
To the religious public the undersigned would
say, that gaming and all such gross irregularities as
would he offensive to them, are prohibited at this
establishment. Arrangements are in progress for
having divine service on every sabbath, which we
hope and believe willbe successful. Persons can be
as private, secluded -and retired as they please.
For Dyspeptics and invalids a separate table will
be prepared, where they can have every accommo
dation they may require.
The universally admitted salubrity of the cli
mate, together with the immense mineral produc
tions ol theneighborhood, will open a field focepec
illation and amusement for leisure travellers.
In addition to the above inducements, we have
six arrivals and departures of marls, each week.—
Accommodation Stages toGreenville.twicea week,
and after the Ist of July there will be a Hack to
Union, on every Wednesday, to meet the Columbia
stage.
To sportsmen it may ho <nme inducement to know
that we have one of the most beautiful race tracks
in the State, where there will boa numberof horses
in training from the lirstof July, until the commence
ment of the races on the first Tuesday in October
HMes of Boarding, os follows:
Persons per day, $1 12A
Do do week, 7 GO*
For less time than four weeks, 6 50
Four weeks and longer, 6 00
Families stationary per month, 5 00
Children and Servants half price
Horses pet day, 0 G 2!
Do per week 3 50*
Do per month, 3 00
The Stockholders in the Company are reminded
to assemble on the 4th July, at the Springs, where
a Dinner will be prepared, and an Oration delivered
by some distinguished gentleman. The public are
invited. WM. MURRAY, Agent, L. S. Co-
Spartanburg, April 26. wt.V
MEDICAL INSTRUCTION.
fINHE Lectures in the Medical Institute of the
1 city of Louisvi.le will commence on the Ist
Monday of November, and terminate on tne Ist of
.il a rcb.
Jedidiam Coiib, M. I), on, Anatomy.
Charles Caldwell, M. D, on the Institutes of
Medicine, &c.
John li. Cooke, M. D. on Theory and Practice
of Medicine.
Joshua B. Flint, M. D. on Surgery.
Henry Miller, M. D. on Obstetrics and Dis
eases of Women and ' hildren.
Charles W. Short, M. D. on Materia Medica
and Medical Botany.
Lunsford P. Yandell, M. D. on Chemistry
and Pharmacy.
The apartments for the prosecution of Practical
Anatomy will be opened early in October, under,
the direction, of Dr. Donne, tile Demonstrator.—
The extensive College edifice erected within the
last year will be in a state of complete finish be
fore the commencement of the course. Comforta
ble Boarding, including lodging, lights, fuel &c.
may be had at-convenient distance from the Col
lege, at an average rate of $4 per week. The
Tickets to each Professor’s course *1 $l5: Matri
culation and Library Tickets $5: Gtoduation fee
4,20: Dissecting Ticket, which may be taken or
not at option, $lO. The Faculty will i£fl«iwat
par the paper of solvent Banks of testates in
which pupils respectively reside. By order of the
Faculty. C. W. SHORT, Dean.
Louisville, Ky. July fl
>IOIW S 311 1/nCAULiS.
The subscriber will be furnished with
TEN MILLIONS ot the genuine Chinese
or Morus Multicaulis, grown from trees
ag33SS*v imported from the Jarden des Plantes, of
Paris, in 1-536, which will be sold lower than any
now oflcied. They will be parked in such a man
ner that they may be transported to any part of the
U. S. with safety, and will be delivered in Augusta,
free of expense to purclia ers.
All buds will be warranted to be mature and a
genuine article. Individuals wishing to purchase,
will make application >0 W, E. BEARING.
Athens,.June 11 tlstl^