than those which have been grown on land less rich in these salts, and are consequently better fitted for the food of young animals.

The sugar-cane also absorbs with great readiness the chlorides of sodium and potassium, and probably the sulphates of these bases likewise. So that it is not uncommon to find the juice obtained from canes which have been grown on soils in which these salts are abundant, to possess very purgative qualities, in consequence of the presences of these substances in much larger quantities than usual. The chloride of sodium (common salt) forms a highly deliquescent compound when combined with sugar; which accounts for the difficulty that attends the conversion of cane juice that contains this salt even in moderate quantity, into sugar that will crystallise freely or "that will bear the sea."

These saline constituents are not equally diffused throughout all parts of the plant. In the sugar cane, for instance, they constitute four per cent. of the weight of the leaves, whereas in the stem their amount generally does not exceed 0.6 per 100.

I trust that I have rendered the foregoing sketch sufficiently intelligible to the reader to enable him, on a careful perusal of it, to understand the transformations which the non-azotised vegetable principles therein named, are liable to undergo from slight disturbing causes. It will be remembered that those changes were described as being molecular ones, or at most, that they were effected by the displacement or addition of an atom or two of water, or rather the elements necessary to form those atoms to the original substance; and that of all agents none more effectually produce them than the contact of one of the azotised principles which have been described. On a knowledge of these changes is based one of the most important principles that are to guide us in the manufacture of sugar.

Art. VII-THE COTTON TRADE.

ADVANCES OF THE COTTON TRADE AND MANUFACTURE-HOME AND FOREIGN SUPPLIES-STOCKS-DEMANDS-PROSPECTS OF COMING

CROP PRICES, &c.

DURING the past half-century, cotton fabrics have been gradually coming into general use, and are now a staple in all the markets of the world. Consequently the result of the crop of the United States from year to year becomes a subject of anxiety, not merely to the growers at home, but to the mercantile and manufacturing interests of the world; for of the product of all cotton-growing countries combined, more than four-fifths is raised in the United States.

After the disastrous visitation of the caterpillar had reduced the estimated crop of 2,400,000 bales to 1,779,000 in 1846-7, there

were intelligent parties who expressed the belief that, at some future day, an entire crop or even series of crops, might be swept away in this manner, though I believe in this they rather "took counsel of their fears." Assuming it to be a fact that in some parts of the West Indies and Southern Mexico, (as is asserted,) the cotton plant, from the same cause, has nearly become extinct, we are not to infer as a sequence that the same will ever be the case in the United States. The difference of latitude is very great, and the experience of the past would seem to show, that a long continuance of warm and sultry weather is necessary to produce the caterpillar in great numbers, and that a very late crop is most liable to injury from them. In 1846 the crop was late, in addition to which the worms appeared earlier than usual, and consequently had a longer time to propagate and increase, before the recurrence of fall weather had any effect either on themselves or their favorite food.

Without supposing that entire crops can be cut off in the United States, we may not shut our eyes to the fact, that what has once transpired may occur again. It therefore becomes the duty of planters to look the danger in the face, and prepare to meet it. It is very possible that by better attention to scientific agriculture an earlier and surer stand of cotton may be obtained; but we do not believe that it is in the power of man to prevent, to any extent, the multiplication of the caterpillar, so long as they have green cotton to feed upon.

What, then, is the planter's remedy? A general limitation of the growth of cotton, united with an increased production at home of all the necessaries of life-grain, beef, pork, mutton, and wool, and added to this, the manufacture of coarse negro clothing, and in many parts the boiling of molasses from cane grown on the spot.

Planters, as a body, must cease to be dependant on their credit for the means of raising their crops, and increasing beyond propriety their negro force. This course compels them to send their cotton to market often at an unfavorable period. It is true that a large portion of the crop is dependant on uncertain navigation for reaching the place of sale, but it is not the less true that many of the planters residing in those sections of the country do not control their own crops. They either pass through the hands of country merchants, or are consigned to factors who have a large claim on them for advances, and are consequently placed on the market without delay; while at the same time the markets are glutted by the supplies coming down with the simultaneous rising of the interior waters. Little or no pains are taken to keep back for the time that portion of the crop that may be sent forward at any moment.

Hitherto production has been greatly in advance of consumption, and consequently the aggregate value of the crop has been diminished materially. In whatever light we look at this over production, it is adverse to the interests of the planting community. The aggregate number of bales raised in all countries for 5 years, commencing with the crop of 1842-3, was 12,868,000, while the consumption of the world, as far as ascertained, was only 12,615,000 bales for the same period, and which embraces the three small crops

of 1845-6-7. Thus the production exceeded consumption 253,000 bales; added to which, the stock on hand when the crop of 1842 came into market of 650,000, would make the stock on hand at all points, at the close of 1847, about 900,000 bales.

The annexed table exhibits the crops of the United States for 6 years (estimating 1847-8 at 2,260,000, with the average price in New-Orleans, through each season, from middling to fair qualities:

2,379,000 bales, average price in New-Orleans,

1842-'43
1843-'44

1844-45

1845-'46

1846-'47

1847-'48

6

Assuming, for the sake of illustration, that the above would exhibit the average value of the whole crop, and that the average bale weighs 425lbs., it will be seen that while the large crop of 1842-'43 realized $56,873,000, the small crop of 1846-'47 brought $78,320,000, showing the relative influence of excessive and short supply in the aggregate value of the crop.

To the deep indebtedness of the planting community is owing, in part, the extremely low price to which cotton went down at one period during the past spring in the New-Orleans market; and so: great was the difficulty of realizing money even on cotton with so heavy a stock pressing on the market, without a corresponding demand abroad, that extensive shipments were made on very limited advances; and in turn the Liverpool market has undergone a similar pressure from the anxiety of holders to realize their advances on the shipments made at New-Orleans.

Let us look at the past history of the trade. In 1785 the first bale of cotton was imported into Liverpool, and for ten years thereafter the quantity consumed was very trifling. The following table will show the average imports per annum in periods of 5 years, of cotton wool from all countries into the port of Liverpool for 50 years, commencing with 1793:

This shows a steadily progressive increase, which, however, cannot continue in the same ratio hereafter, though it is highly probable that many years cannot elapse ere the production will be met by consumption. Nothing will tend more to bring about this than the permanent settlement of European governments on a liberal basis. Great Britain has hitherto been the main seat of cotton manufactures, but continental Europe and the United States are rapidly coming in for their full share, and must ere long take the supremacy out of her hands.

The consumption of France during the past five years has not varied materially, averaging about 330,000 bales per annum. In the United States during the same period it has increased from 325,000 bales in 1843 to 428,000 in 1847. It must be borne in mind, however, that a large amount of cotton is manufactured in the Southern and Western States that never reaches any seaport, and consequently, does not enter into the tables of either consumption or supply. Though the tables of the current year may probably show that 450,000 bales have been spun up in this country, yet the actual amount will no doubt exceed half a million. It is stated that the mills west of the Alleghany mountains and above the mouth of the Ohio receiving their supply by the latter stream, will consume this year, 40,000 bales. A large part of this is purchased in Nashville, Memphis, Louisville and Cincinnati. The writer is acquainted with a respectable gentleman who purchases largely for mills in Pennsylvania, who formerly bought in New-Orleans, but who has this year operated chiefly in Memphis, and who expects to do so hereafter.

In Germany there is a rapid advance going on in the extension of cotton manufactures. The imports into the Zoll Verein were double as great in 1845 as in 1841, of raw cotton, while the importations of twist from Great Britain during the same period increased in nearly as great a ratio. Instead of importing English twist, ere long the raw material from the United States will take its place, and the twist be made at home.

In the Austrian port of Trieste, the imports of raw cotton of all countries for five years ending with 1835, was 356,000 bales, of which 51,000 were American; in five years ending with 1845, the total imports were 494,000, of which 189,000 were American. Genoa is now a powerful competitor with Trieste for the cotton trade of Northern Italy.

The production of other countries than the United States averaged, for several years, 470,000 bales; in 1845-'46 it was only 375,000, and last year was not supposed to exceed 400,000. Presuming this last to be the fact, the following tables show the production and consumption of the world for five years, the quantity taken into use on the continent of Europe in 1847 being estimated at 630,000.

United States,
Other countries,

PRODUCTION.

1842-3. 1843-4. 1844-5. 1845-6. 1846-7. 2,379,000 2,030,500 2,394,500 2,100,500 1,778,600 470,000 470,000 470,000 375,000 400,000

2,849,000 2,500,500 2,864,500 2,475,500 2,178,600

Great Britain,

Con. of Europe,
United States,

CONSUMPTION.

1844.

1845.

1846.

1847.

1843. 1,383,000 1,406,000 1,580,000 1,593,000 1,158,000 743,000 686,000 775,000 750,000 630,000 325,000 347,000 389,000 422,000 428,000

2,451,000 2,439,000 2,744,000 2,765,000 2,216,000

It is a fact of some importance, though not generally known, that

the quantity of cotton wool imported into Great Britain from other sources than the United States, is not equal to the amount manufactured and sent back to the same countries in cotton fabrics, while the quantity received in other parts of Europe, excepting from the United States, is very limited, all the East India cotton going either to England or China. Indeed, shipments of cotton have already been made from hence to China. The idea of raising cotton advantageously in India for English consumption, has lately been declared futile by a Committee of the House of Commons; and there is no fear of the growth of any other country coming in competition with that of the United States, until prices shall have become permanently very much higher than at present.

The following exhibits the crops of 10 years, estimating that of 1847-'8 at 2,260,000, showing the relative supply of the Atlantic states compared with the South-Western, and also the increase of the last 5 years over the preceding to have been a fraction under 12 per cent. on the Atlantic side, and a little over 15 per cent. at New-Orleans and Mobile. It is manifest that the greatest increase hereafter must be west of the Mississippi river; and it is to be hoped that the government will take efficient measures to improve the unceasingly interrupted navigation of Red River and its numerous

tributaries.

1839-39. 1839-40. 1840-41. 1841-42. 1842-43. 1843-44. 1844-45. 1845-46. 1846-47. 1847-48. N. Orleans.. 575 000 958,700 814.700 727.700 1,060,200 | 832,200 929,100 1,064,100 714.300 1,185,000 Mobile...... 251,700 445,700 320,700 318,300 481,700 468,000 517,200 422,000 323,500 440,000 826.700 1,404,400 1,135,400 1,046,000 1,541,900 1,300,200 1,446,300 1,486,100 1,037,800 1,625,000

Florida......
Georgia.....
8. Carolina..
N.Car &Virg.

75,200 136,200 93,500 114,400 161.100 145,600 188,700 141,200 127.900 150,000 205,100 292,700 149,000 232,300 299,500 255.600 295.400 195,000 242,800 220.000 210,200 313.200 227,400 260,200 351,600 304,900 426,400 251,400 350,200 250,000 33,400 33,200 28,700 28,700 24,100 23,100 37,700 25,900 20,100 15,000

523,900

775,300 498,600 635,600 836,300 729,200 948,200 613,500 741,000 635,000 Total Crop..1,350,600 2,179,700 1.634.000 1,681,600 2,378,200 2,030,400 2.394,500 2,099,600 1.778,800 2,260.000 The Texas receipts are appended to those of New Orleans.

When the current commercial year opened, the prospects as regarded the cotton market were encouraging. It was well-known that the stocks of manufactured goods were very light; the harvests both in Great Britain and on the continent of Europe, had proved abundant, and under the influence of the great reduction in the value of bread-stuffs, it was hoped that the demand for cotton goods would be so extensive as to keep up the price of the raw material, even should the crop prove a large one. Middling cottons opened at 103 in the New-Orleans market, gradually settling down to 9 c. towards the latter end of October. At this period, the numerous failures in Europe, arising out of losses in grain speculations, chiefly exposing the rottenness of mercantile houses hitherto considered in good standing, with the heavy demand for money to meet railway calls, began to tell heavily on the cotton trade; and prices declined at all points, while the general distrust made exchange negotiations very difficult.

These causes continued to operate, pressing down prices, till at one time in November, middling cottons were sold under 6 c. Fortunately, we were relieved by a better demand than usual for