The New York Herald Newspaper, September 2, 1861, Page 2

- 2 THE COTTON FIELDS OF THE WORLD. India, China, Egypt, Natal, Syria, Tur- key, Australia, Mexico, Nicaragua, Hayti and Other West India Is- lands, Brazil and Other Coun- tries of South America, Cot- ton Growing Regions Where England Obtained Cotton Last Year. She Can Do Without the Cotton of the Southern States. THE COTTON SCHEME OF THE REBELS, &e, &., ke SOURCES OF COTTON SUPPLY. The following is # lis. @f tho new plioss from which ‘eotton has beow shipped to this country during the past ‘welye mouths. Those placos are either entirSly now as places of cotton export, or are ports where the export of ‘cotton has revived, owing main'y te the agitation created ropeh the eflerts of the Manchester Cottua Supply Asso- tion: — St. Mare. Algoa Bay... Smyrna... Pert Elizaboth. 2 Tutocorin. “AS “6 Cochin. . 8 % 42 2 3 32 212 6 ry 2 21 + 26 + 62 Freetown ae Puerto Cabello, + 1340 Savauilla, ae Valparaiso. . : 16 93 Rio Grande del Norte, 380 £ydno; 2 a St. Kitts, s10 Arica... 103 Port Louis, Mauritius — 86 1h Medina TB Cape Coast Custie. @7 Port Madoc... Cape of “Good Hope. Grand Saline, Port Phillip... 18 Slerra Levue........ 1 Making a total of fifty-eight now, rovived, er inorcasing Ports from which we are now receiving cotton. GOTTON TRADE OF ENGLAND IN 1861. (Foam the Manchoutor Guardian, May 7.) Comparative view of the Imperts and exports of cottom into and from the whole kingdom, from January 1, 1861, to May 3, 1861, and of the imports and exports for the omg, period last year — Imports, 1861. 1860, American, bags. 1,205,670 1,283,620 South Ambérican... 25,208, 34,634 Dem: 785 378 + 147,602 815,868 . 53,230 59,308 + 1,432,545 1,593,684 fapared with the =" * Tho total qnantity all kinds imported thia yoar through Bristol and Ffull (1,219 bags) is given iu tho above ‘tablo; but tho quantity tat arrived at these ports last Year is not inoluded. SUPPLY OP COTTON AND PAPBR MATERIAL, ‘TO THR BDITOR OF TRE LONDON DAILY NEWS. As cotton ia the all engrossing tovio of the day, and, as events aro likely to prove, the all important ono, will you allow me to call your attention te auother place In the British posseasious cotton and oF matorial is obtainable? Seush Africa, whivh is now mm to bes fibrous region, produces au indigenous plant, belonging te the armyliideas family, which possesses ® masa of the finest fibre, and which, whon dressod, could bo used for armed woaving purposes, and the rasidue be worked into half-stuff, amd bs shipped to this country as a substi- tuto for rags (duty free), and used as material for paper making. There is a large quantity of this now obtain- ‘ablo, but it is 80 prolifte and oapablo of propagation that by cultivation and due attention, millions of tons could de produced, as I fla:t by oa!culution that if tho yiold was omy one ton per acre, 8 ploce of land, say five hundrd miles square, would produco the almont inoredible quantity of one hundred and sixty miilion tons, at the same time capable of producing fvo times the quantity per annum. Royal letters patent under tho groat seal ‘wore granted in 1847 for the application of this pro tuc- tion for textile and paper purposes; but owing te the thon sbundant supply of cotton from America, ani the demise of Mr. Crompton, the eminent paper maker, little hu been done practically in the matter, though samples of the totton have boen exhibited in the of Manches- tor, and live saroplos of tho plant introduced to most of our national institutions, Sir William He ‘ker, Professors Quekett and Bentloy, and other eminent and gclontific judges, eulogiss highly tho qualities of the fibre, Professor Quekett using the following striking langaage:—"1 wowd partioularly cail your asten- tion to the cotton bulb, the silky filaments of which are no doubt. capable of being converted iuto the must delicate fabrics.” C7 With the aid of Khffir and other native labor, and the improved agricultural implements science hus given to the wor.d, thore is littie doubt but that South Africa could supply as much of this cotton and paper material as Great Britain could consume. THOMAS GHISLIN. 72 Harroy Gamvex, Juno 1. COTTON SUPPLY ASSOCIATION. [Fron tho London Heraid, June 14.) The annual meoting of the mombers and friends of the Cotton Supply Assuciatioa was hold in tho large room of the Town Fail, Manchoster, on Tuesday, Mr. John C1 ham, tho prosident of the association, ocoupied tho chair. ‘The Chairman remarked that it was now four y 168 the association, whose siaims they were mot t ad te, had appeared bofore the public. ‘The principle on which ‘that association was founded was, that it was unwise in a Sroat manufacturing trade of this country, upon the con tinuance and extession of which so largo ® number of Population and of varied interests were oonoorned, yenr atter year, to allow it to continue in almost total depend- ence upon one soprce for the supply of its raw material. ‘It was further sald, in reverence to that principio, that that great source of supply was connected with a mode of em- Ploying labor in its cultivation whioh could not, if they Were.believers in truth and rightoonsness, ultimately be Continued, bat might at some moment unoxyeoted to them ail fail and break down, leaving them in the direst emergency. (Hear.) He certainly, for one, little thought that within four yoars trom that period those two objects NEW YORK HERALD, Cn fording him every facility for the conveyance of crop. The chairman then referred to tho other coun- tries where cotton was produced, including our West In- dia colonies, Natal, Austratia ( particularly Queensland) , Egupl, Algiers, Turkey, the West Coast of Africa and India, pointing out the pectillar advantages and disadvantages of each, and concluding that they were at present shut up to the latter country, which was growing more cotton than any othor part of tho globe. It was calculated that the production of cotton there at the present moment— taking mto account a certain quantity of cotton per head used ty the nativos—was probably no less than 600,000 bales por annum. It was, too, under our own govern- mont, and thore was also au abundance of free labor, They had no quostion of slavery to battle with, but, at the samo timo, thore were most formidable dilficultios ag, compared with the position of the plantor in Amoriga. ‘The cultivation was not in the hands of the Anglo Saxon. ‘Thoro was scarvely any such man in the cotton growing districts. The ryot, to whom it was trusted, was a sinall farmer, holding a few acres of land, so poor that he had to borrow his capital of a banker, and the banker took the crop almost at his own price, seldom giving moro than 134.d or 134d. per pound for it. ‘The cotton thon paasod through several hands before it reach- ed the English merchant, amd was generaily found to hayo undergone great adulteration, It was not at all.eur- prising, therefore, that under these disadvantages, the cotton obiained from India was the worst grown cotton in the whole world, that {t fotched at all {imnes tho lowest price, and that when they came to talk to a great number. of consumers, asking them to look to India for a supply, they smiled with incredulity, and said that if the associa: tion directed 1s sympathies to some other country thoy might agroo with it, Laxt year, owing to the abundant crop in America, of the 600,000 bales received in this coun!ry from India, only 173,000 were consumed, so that had not the ‘Russians, Germans and Swedes come in to take this cottom away, we should have had more than. 400,000 bates priled up in the warehouses of Liverpool, indicative of its unsuila- bility to the great proportion of our consumers; and a simi- lar Btato of-things had existed for tho last five years, But India was capalle of producing us a very much larger quanaity cotton than 600,000 bales, ‘Tho exports at Bom- ay for tho first four months of this year wero double the quantity of those of the previons year, and, if this rate was Kept up, she proportion would be vory much targor than had ever yot boon received. In dwelling on tho importance of an increased supply, the chairman said that on looking back during the last ten years he found that our annwab supplies Srom all parts of the world, including the large crop of last year, averaged 3,984,000 bales; while our consumption fil- Unoed 80 cloie upon it as to reach to 3,960,000 bales. The country thus went on literally, as he had stated on former eccasioms from hand to mouth on this great question—a coun- try exposud overy two cr three years to the disasters un- dor which they now suffered; for thy mustuot forgot that tho present price of cotton arose less from tha impending crisis in Amorica than from the fact that a million baves had been lost to tho world by the failing of tho harvest. On the ove of this great crisis the association thought it tho'r duty to bring under the notice of the government thoge difficulties which wore impeding the operations of the Cottou,Company ju India in tho promotion of tho eul- tivation of cotton. A deputation acoordingly went to London a few days ago with this ob, then adverted to the various gov im vontemplation, or in course of operation, to fa the carriage of goods, and particularly to tho a'teration in tho tonuro of land to Europoans as likely to produce: tho most marvellous results in tho course of a fow years, and pico our cotton supply ‘beyond all peril. He would only say, in conclusion, they felt vory much indobtod at the present moment to the very warm intorest, and to the kliud offers of survico in every practi- cal way that tho governmont of this country, in all its ditforent departments, wero tendering to theta.’ He could assure them:that the feoling in bigh quarters was far more warmly im this great question than it was among themselves, who were 0 much more practically concern- ed im it. Applause.) Mr. Henry Ashworth moved the adoption of tho an- aval report of tho association, which was agrood to; and the meeting was addreased also by Dr. Baker, a traveller tn Abyssinia, as to the capabilities of that oountry; by Mr. H. Jordan, tho government commissioner from Queensland; by the Rey. Mr. Arthur, who ciaimed pre- eminenco for India as the source chiofly to bo reifed on fer speedy supply of cotton; by tho Rov. Mr. Townsend, from the West Coast of Afcica; by tho Kev. Mr. Stuart, who ig abous to join tho expodition of Dr, Livingstone; aad by Mr. Hoppol, the engineer of tho Madras Ratiway. QOLONIAL COTTON IN ENGLAND—OOST OF ABOL. TIONISM AND SLAVERY. TO THW EDITOR OP THE LONDON HKRALD. In tho last annual :eport of the Cotton Supply Associ tion it is stated that sixty-six samples of on hat been reoontly received trom India, ranging in yaino trom 3344. to 221. per pound; ten samples have been recolved from Australia and New Qule:‘onia, valued at from 7354. 361., and sixtoen samplos from South America and the West indies, ranging from 5344. to 16d, ‘This proves that cotton can be growa in India, valued at the next highest price of any known, know that whon tho duty on slavo grown cotton was removed, at a period wh n the price of cotton was at its lowest, from 1842 to 1845, our on which they formed their association would combine ether to illustrate the soundness of tho projects in which they had ongaged. They had had, attor the largest ‘crop of cotton which America had ever produced, ag sud- den a collapso, and to this simple fact alone was mainly owing that very considerable advance which had taken placo in tho prico of the raw material, But they had, in Addition, to witness the total and unexpected rupture of the States, which wore now arrayed in two hontile par- ties; and they looked on with amazement, with regret and with terror at the probablo results which may flow from this most unfortunate struggle. He know that ho ‘Spoke the sentimenta ef all present when be said that every Puglishinan poply regretted that this strugglo was taking place. (Hear, hear.) Thoy might equally abomi- hate the contiuuance of slavery in one section of that country, but they at the samo time could net but deoply deplore that its citizens should meet in hostile array, ant ‘tbat they should see the unfortunate spectaoto which that great republic now preseuted. (Hoar, hear.) Ho thought, then, that the principles upon which’ they founded that @asociation were not stronger now thaa they wore at drat, thongh they were more extensively recognized now by those who thre: stood aloof from it It was @ matter of Tegtol that in thy district which was more especially in- torested in the disevssion of this question they should find #0 little comparatively of that interest and excitement which were felt in other parts of the country He had lately, with somo other members of tho couneil, boon with & deputation to London, and they found in every circle, ‘whether amongst members of Parliament, tho nobility or ‘merchants in the city, the one great and absorbing ques. tion was, “What are you doing in Lancashire, and what is to be the resuit of this impending crisis in’ the United Statest” That being the case, he thought they mustadmit that tho paragraph in tho report which states that the trade of this conntry ought to congratulate itvelf that the association liad boon formed, and that it was working Most succasfully, was based on most satisfactory evi. denoe, (Hear,hear.) Ha: they been called together unex- fanny in consequence of this great crisis, they would ave been without experience, thoy would have had no information such as they now possessed, and being with- out any safe guide, would provably have had various schemes totally unsound im their’ principles and ob- jects, and which wauld have brought them into mueb trouble and loss without achieving any of the objects to which they attained. (Hear, hear.) But they were now in possession of information from every comtry where cotton can be cultivated, exoopt China, whence they could not at present expect to have supplies of cot ton, because that country was an oppouent of ours in the Indian market. Still, as we were opening the interior of China, it was thought desirable to obtain some informa tion as to cotton growing anil the likelihood of obtaining some supply, beeause, as they knew, there was probably as great an amount of cotton grown in China asin India. Lord John Russell had kindly offered to send out inetruc- tions to the English ambassadors and consuls to make in- quiries for the guidance of the association. They were, therefore, now im @ position to show what were the sources upon which they might roiy in the emergency ‘onwhioh they were now entering. Their position ap- peared to be this:—In the first place, to recognise,as they Sught to de, the superior advantages which the Aimeri- fan planter had over every other individual ootton rower in the world. This was too often overlooked. 1e American was an Anglo-Saxon, endowod with all the | mtorprise and enorgy connected with that character; ho was planted in a country whose soil and climate were po- {oullariy adapted to cotton culture; he had the labor of ifte cultivation; he was intimately acquainted with the wants of the consumer, and he had the advantage of a Country intersected with railroads and rivers, af- imports of cotton from Tudia fell off, 2 the cuitivation was abandoned in our West India colonies. ‘The foilor are a few items of the cost of our in ‘istont legislation regarding slayery, which may 1+ interesting to your roadera:— Cost of emancipation... ‘Tuxes for interest thercon, at 3 pér The Anti-Slavery Reporter st ites have paid for the suppressiv: with the monoy paid to sp We have paid to tie United axcess of the average of tho prico of its 04 ton, for the yours 143—4—5.......... Om 10,226,947,006 tbs., which tho United States las sent us since 1845, the loss to our Exchequer, at only 3d. por Ib., is. ++ 21,806,144 Since 1846 we have been sa tdied With (he in- como tax, which, at an average of £5,000,000 por annum, is.. i ‘The Jons from tho ropressi-n of enterprise. in our tropleal possessions since the equatiza- tio of the duty on slave produce may be safely put at, to thom........ +++ 200,000 000 Total...-.. teeeeeecenee eee 1 SAGL H4Y,938 Any person who had the requisite data at command, und who would take tho trouble to analyze the subject, would, I fuel convinosd, tid that a much larger sum would havo to bo placed on the wrong sido of the trading ledger of the British empire from our encouragemont of tho slavo sys- ten in foreigm oountries while des:roying it in our own Possessions. ANTI-SLAVERY, INDIA AND THE CULTIVATION OF COTTON: On the question of promoting tho cuitivation of cotton in India, an Kast India merchant writes to tho London Times:— India already produces more cotton than America, and the cultivation can be indefinitely extended, Fine cotton oan doubtless by grown in some ozalities, but that the generic character of the great bulk of Indian cotton can bo improved to the standard of midd ing Orleans is, T believe, b:yond hope or possibility. Staple and quality aro doponicnt upon peculiarities of soil and climate, Irrigation, a8 a rule, whero it has been tried, does harm to tho Lol, rarely good. The Amorican seed sent out alines: ivvariably loses its germinating power; when it has svucowee the staplo of thy cotton in some localities is Superior to that of the native kind, but it quickly dere. riorates unlvss freshly imported sced be supplied. ‘Tho great cotton solis of India aro rich beyond compare, and it is much to bo questioned if any matorial i of yield can be effveted, or tho present system of cultiva- tion be greatly fnproved upon. Imnroved roads from the Ghant (inountain) districts to the coast are indis- pensablo; but the transit by bullock carts in Guzcrat and Cuteh, which produce two-thirds of all tho cotton ex. ported from Hombay, is extremely moderade in cost, althoagh somewhat tedious, and tho scaboard commu: cation to Bombay the finest im tho world during the cotton exporting months. During tho past ten years much has been done to improve the picking and packing of Indian cotton, and a large proportion of tho shipment is now absotutcly free from all admixture of seed, leaf, or extrancouy mtter—In fact, perfect in color snd Cleanliness. Another proportion of tho shipments, howover, principally made by natives, is still mixed and teafy, but not adulterated with sand and stone, as has latterly beon the caso with low Americans. India, then, now supplies Fnglaud with a ootton inferior in staplo to middling Orloans—a dovoct which, I believe, caunot be ro- mediod, but still a good useful cotton; and it can always be procured in Liverpool in excollent condition. But sich eotton Is im great disfaver, and the consumption of it in England has steadily retrograded. No doubt, whatevor the merits or demerits of East India cotton, it will nover ontor largoly into English consumption white an adequate supply of American kinds can he procured. Tho consumption of Surat cottom reso in 1857, umter 8 soarcity of Amorican, from 5,300 to 6,400 bales por wock. Tn 1858 it was maintained at 5,300, bus in 1850 fell to 3,150. In 1860 It was 3,578, and to the present date, in 1861, it has again falien to 2,880. On tho other hand, the export from England te the continent of this description of cotton kas largely increased, Im 1858 it was 173,877 bales; im 1859, 272,600; in 1860, 345,420, and the increase continues to date.” We hare mav in Liver- pool a sock of nearly 200,000 bakes Kast India cotton and the same waterborne; it will go far towarde supplying the American cotton, and larger supplics will come forward if the trade will buy it and we tt. Ithas hitherto beon unfortunate that while the Indian cotton bas been greatly improved, as above, a si- perabundant supply of American has thrast it on oneside. Manufacturers, however, must now once more resort to it if the impending scarcity of Atnerican be realized; and it is to be hoped thas the prejudice existing against it on the part of the work people may be removed by the expe- rience of its improved condition. It is of ‘the first im- that Indian exporters should have a distinct and reliable report upon its qualities from the manufao- turors, for at present it is impossible to ascertain what are tho real objections. The only posable means of in- dueing an extended eultivation of cotton in India is acon 81,943,744 5,000,000 Stant demand im Liverpool at paying prices. Experience alone can determine what bf are, but they are much un- derstated by the projectors of the cotton growing compa nics. On the 1st of January, 1860, the ditference in vakie botween middling Dbollera aud ‘middling Orleans was about 114d. por Ib.; now it is 2 12-16d., with a languid de- mand from the trade, nofwithstanding the prospective scarcity of American.’ Thero is no doubt that, under the jutluence of @ good demand and romunerative prices, India could gend at least 300,000 to 500,000 bales in addition to her ordinary supply during the next twelve months, ‘The attempts to extend and improve cultivation without these indispensable conditions can only result,as they have hithorte frequently done, in disappointment and severe COTTON GROWING IN TURKEY AND SYRIA. From the Levant Quarterly Review, May, 1861. ‘The demand for cotton whioh is now almost regarded 86 menacing, cannet fail to stimutate powerfully the early completion of such railways as the smyrna and Aidin lime. Present moans of transport will be totally inado- quate to the requirements of Smyrna, when in neighbor- ing valleys many thousand additional bales of cotton are ready for the camel's back. When cotton for Smyrna foot ld way, & loag pull, a strong pull, and a pull alto- getlior, te complete the railway will be made by exporters of oplum and madder, and fruits and vadonea, and silk, 4c. Those various rick products cosupy the actual means ; price, is a formidable ‘competitor om the road, and will have its wants provided for witheus oonguiting the cen more costt; wares. Til the Smyrna and Afdin railway be got into working order, a high prioe of cotton and a heavy pro- duction of voluminous bales may naturally MONDAY, SEPTEMBER 2, 1861, with uneasiness by some of the old established Smyrna interests, whose well organized routine, and command of labor and transport will be disturbed; ‘but th we cemody 4 fortnuately at hand in the railway, whero t nce also is waated, and Smyrna may attract cotton frum Ferrer of Asia Minor, and again export Ae OG Q im annually, without detriment to the interests madder, opium, or. ‘frie A Coitm Compaiy, or a committee in aid of the Man- chester Cotton Company (limited) ts now forming at Smyrna, under excellent auspices; bat at tho present Momont money is very scarco in Turkey, and some aux- iliary Manchester names and capital are wanted to give the oxtension of this enterprise of whieh it is capablo if it bo vigorously supported by some of thoso whe are s'1p- peed to bo most deoply interested in its success. Capiia Turkey easily finds tempting speculative investin-uts and exorbitant interest, so that without’ somo supplies from foreign sources, undor steady control and direction, exporimental cotton growing must nob immodiatcly be expected on a scate commensurate with. th gonoy of the wants of England. Demand, to be eiloctive, must bo backed by money from some quarter or other, invested in creating the required supply. The quickness of demand in Lancashire outrung Asiatic slow- Bess of supply; and, if in hot haste for Bpoody © Lancashire must look 19 furnishing materials for greasing the whools, Efficient coadjutors are ready and. willing to lond their hands in Turksy, where even Jews aro found oxtensively eng»ged in agriculture; but rapidity of Progress, equal to the speed and regularity of Lancashire spindles, cannot undor actual circumstanors be attained without considerable application: of Laneaghire stint Janis. American seed should be furnished in abundance, sud without a moment's dolay, to Beyrout, Smyrna, the Dardanelles, Volo and Salonica, whore men Of tho highest Tespectability, who have already givon serious attention te tho subject, and superintended some experiments, would co-operate zealously with English associates, aud would bring to their assistance local influence and expo- rience, which would facilitate disiribation in neighboring districts, Competent practical instruetora aro urgontiy. wanted, as well as more extensive distribution of tia useful publications issued by thy Cotton Sapply Ass :cia- tion, which have hitherto bven eiroulated {nthe Levant only on ® very sinall scale. Establishments for cleaning cotton, in well choson situations, would pay their way aud per rroneapen, pid would liberate many hands for other work. Further east # more ambitious project hag beon mooted worthy, if practicubie at a moderate outlay, as it is said to be, of an American engineer. It is no less than a, frown the uppor part of the Euphrates, by a cirouitous south of Aleppo, around the Orontes; to bo nayi- 4nd to command a sufficient head of water to uf- ford an ample supply for purposes of irrigation of tho dis- tricts along the whole line, Another branch canal is intonded to be carried eastward from the Euphrates to tho Tigris, thus ofeeting water communica- tion from the Moditerrarean Sea to tho Porsian Gulf, and fortilizing and bringing within range of inropean commerce an incalculable extent of country, whose rich roductions, unter anvient system of irri 1, are famous in history. Detailed descriptions -of this magnifi- cent schemo may bo left by us to abler hands, Samples of cotion, soft and sitky, suited for Alsuce and Mal- honge, some of the best furnished by H.R. Namik Pacha, produced from American sovd, and grown with littio caro in the neighborhood of Bornssa, not far south of Constan- tinowle, have been estimated by brokers at Liverpool as worth from 534d. to 8. per pound. Large cmfracts for supply of cotton from the district of Adana and Southern coast of Asia Minor have been entered into, Millions of eres suitabls for cotton lie alinost within hash of the Liver- steamers, which ply to C-mstantinopleand return by the coast of Syria; and there are, in aldition to the native Population, many thoosand families of Tartar emigrants frgm Russia, now sottled by the Ottoman government as colonists, in somo gases under the direction and control of fntethgent offic yin diiferent fertile districts both of European and Asiatid Turkey. COTTON SUPPLY FROM SOUTH AFRICA. [Feom the Cape of Good Hope Gazette, Juno, 1861 In 1856, when the Kafirs were tn a state of dostitition, and a beligerent correspondence between England and America was being carriod on, which thivatened to bring on hostilities, a gentleman weil acquainted with the co;ony and Kaflirs, addressed his Excedlency Sir Ge the expediency’ cotton Nant | consideration of g ‘this project 1 pusider feasible for the following rea- and in Kaffraria in labor, The cotton plant boing Iapeso any very objec- Uonabls burden in tho cultivasion and preparation of cotton tho rising generation, both boys and girls, whose habits are not con flrmed 89, Could bo taught to pick and ccan tho cotton for market, and thus be trained to a profitable and valuable occupation, ‘The country Srom the Kish river to Na- von miles, is amid to be as cote as any kenanon country in delungs to und is now usclessly ill observe they have the fand suitable for th the world, ant U occupied by the na ‘thes your ey and the i! purpeses required, without inter- fering the right of property, or the unyieiding tile habits of the men. And this leas mo to remark that ono of the features in this schomo is that little or-no exponso world attend its introduction beyond the original cost of seed, To test tho experiment I would suggest that to set the thine going, threo or tear model stations be established by ths government under the management of experion Practical men, ‘thes in tho begins gies for such native fumties induced to ontor nts the xchome, prébend would emanate practical results, When tho r turns of merebai and money for the produce was bron; tho station, other fami cagorly seok to havo seo, and bo instructed in its growth, &o., and thus, by dexrers, ina few years thy whole popa: lation would be protitably engaged in a trade that would benefit the world. Somo. grand and important objects wonld bo gained should this project prosper, among which I will name foi ‘The moral and social condition of the natives would be raised from a state of indoient barbarism to compara. tivo industrions civibizstion, and be thus prepared ior tue higher blessings of Christianity. 2. There would be uo tore Kafr wars. Tho boys, as they grow up to manhood, would have their timo and minds actively employed with the nevessities of their oc- cupation, insteal of, as now, herding together in their kraa's, smoking and sing from morning til night, and for want of something on which to fix their minds brood over imagiia:y wrongs, which at last ends ina savage and murdercus inroad upon the colony. I think poriodical and calamitous incu: sions past history by tho in- troduction of the cotton plant inte Kafrland, 8. Tho trada the colopy would increase beyond com- parison both in its exports and imports, and shonid Provi dence permit any op pir sheep, that would be the natural conse woul be partially averted by having a second exportable product. d is now olmost entirely dependent on a for this most valuable usoful staple, which enth of her popiilatio: Should this supply of tho raw material be cus off b; interruption to the peace relations between England America, inisery,and starvation of the most direfw kind mauist ensue among the manufacturing class. By tho adoption of the plan now under review, England would bo indvpondent of any such catastrophe, which, by advicos from home, clouded tho political hemisphere, Sinco writing this [havo gleaned from McCulloch and Dr. Adam Smith tho following startling statistics, which will doubtless bo interesting to gor excellency, and show tho nocessity of some such plan as here’ pro- % posed: — Quantity of cotton now imported annually into Bugtand from the United States, Ibs. Valo of the vaons directly employed. in cot- Number of ton manufactories....... + 1,500,000 Do. indirectly employed. 200,000 Do, dependent un those employed. Making a total of....... +++ 2,950,000 ‘Twe million nine hundrod and fifty thonsand British ot ig dependent for their subsistence on the cotton trade, Wages paid annually to persons employed... ..£40,000,000 Forty millions sterling. COTTON FROM NATAL. Cotton attracts increased attention (remarks the Natal Mercury, just arrived,) throughout the colony, now that the Manctester mon have been ronsed to a senso of their real interests. Except the oxperiment conducted under govornmont auspices, for oxtending tho cultivation of cot- ton by natives, little has been done of late years. Thy sys- tematic attempts which were mate from 1845 to 1820, to establish cotton as a staplo prod: ¢ of our soil, failed not from any defess im soil or climate, but from accidental causes wholly irrespoctive of the plant itseif. Three years agy & Mr. Payno, who bad been formerly a cotton planter in Ceylon, arrived, and began operations on a staal scale; but his plans, which wero too vague and theorotical, were put an end to by his sudden death. About tho’same timo government began to induce some of the Zulu in- habitants to grow cotton, and have apparently succecded to somo extent. Severql bales of vor cottum have been produced, and efforts ari being made to extend tho cultiva- tion. There are several reasons, however, why the volun- tary growth of tho staplo by natives is not likely to realizo anticipations, ‘Ihe natives, in the first place, expect too high a price for thoir produco; and, secondly, their erade and eareloss methods of culture are not adaptod to secure large orops. ‘There is) likelihood, too, that thy first novelty of anew exparimont having worn off, they will tiro of an enterprise requiring constant care and yielding only moderate returns. Nevertheless, the colonists will be glad if the natives can by any means be induced to eoniribute more largely to the staple aad exportable re- souraes of the country. Experience has suficientty proved that, with care, 600 Ibe. Af cotton per acre may be ob'ained in Natal. Many oati- mates have becn mado at a much highor figure, but that may be assumed as a fair average. Tho plant, mereovor, | continues to bloom for a long succession of years. Sea Island appears to be the description best adapted +0 the coast, while inforior sorts aro betwr fitted for the oulti- vation of natives, Coolie having been suecessfully im- troduced, the labor question has met with a solution, aad if the Manchastor capitatists are disposod te assist Natal growers, they canuot do se in any,better way than by importing @ number of coolies, and distr#buting them to men of small menis on the coast or elsowhore, whe will Agree to certain terms rogarding the repayment of ex- penses and the guarauteed supply of cotton, THE SUPPLY FROM BRAZILy (From the London Times, June 26.) A report on the progreas of Beazli, which i among countries with whom our commercial relations are ef moat importance, has been furnished to the Foreign Oéfice ee ran Balle, her Majosty’s Secretary of Legation at my * . * ° . ° wherever @ te planted. Tao want of late the into- rior and tho scarcity ef laver have, however, {mpedimente to the increased cultivation of ‘Tobacco is one of the mags important itomea produce, the average exports being £381,000. abolition of the slave trade its exportation hag ih at tho rate of thirty-seven por cent. It grows well in Brazil whorover it is cultivated, but "is shipped largely, only from Bahia and Rio, ‘The internal consumption has augmented much in late years, and tho namber of sear manufactories bas increased from 100 to. 303 since 1350. India rubber is becoming an oxport article of great value. ‘The nidia rubbor tree grows in abundance in Para, and is also found in Maranham. The annual export of cocoa is about £103,000, of which the greater part comos from Para, To supply tho ‘want of labor thoro have been many attempts to promote immi; tion, but have all bocn badly managed, and tho total result in forty years has beon tho estab.ish: mont of about eighty oolonies, with a population of nut more than 40,000, There is now, howover, a much better prospect, owing to inducements presented by the cultiva- tion of coffee. Throughout the southern provinces of the ompire, whorever the climate adinits of it, cofieo, as well 5 tho staple articles of food, may bo grown to almost any extent by smail landed propriotors. Unlike sugar or cotton, it may be cultivated on a very small scale, and requires but littl expense at starting. If, therefor», some of the vast tracts of neglected but fortilo soil could bo offered for sale, a great opening would at once be made for tho arrival of (orcign emigrants and tho introduction of whito labor on a larger and pormanent sealo, Exclusive of agricultural immigrants there is al- Ways an influx to Brazil of foreign morchants, artisans, skilled workmon, &o., especially Portuguesa, who havo rondored great service to the ovuntry, and whos annual number is estimated at about 12,000. OOTTON IN MEXICO, [From a, to nuraber of tho Progreso of Vers Crux.) m the Statoof Guerrero (om sho Pacis coast), the agriculturalinte are dovoti selves to thy planting of ovtton. ‘There are gin mills in Nexpa, Sabana, Coyuca, Atoyao, San Geronimo, Tocpan, Tenexpan, Coyacoula, La: guiriila, Zauja (noar Zacatula) and Orillia.’ The eotton is Sont to Queroturo, Puebia and Morolia, aud some is ex: perted by sending it to the ports of Manzanilie and San Blas, THE NEW COTTON SCHEME. ‘The Rebel Plan for Keeping Cotton from the Union Army. BREWER & OALDWELL’B CARD. ’ Nuw Yore, August 20, 1861. ‘We submit you below a card from the factors ef Now Orleans and Mobile, advising tho planters to hold their cotton en their plantations; and, as far as we can leara, this course will bo adopted im all the cotton growing States. Your obedient servants, BREWER & CALDWELL. THR NEW ORLEANS FACTORS’ CARD TO COTTON PLANTERS. The undersigned, copton factors in the city of Now Or- Jeans, in viow of tho interests of wll parties, recommend te their various customers and correspondonts not to ship Any portion of their crops ef cotton to this city, or to re- move it trom their piantations until the blockade is fully ani entirely abandoned, of which due notice will be ven. £ 0. Nelson & Co. A. D. Henkel & GC», A. D. Kelly & Co, Wood & Low. kdward Nallo & Cow Byrne, Vance & Co. Wright & Allen. Pilcher & Goodrich. Howitt, Norton & Co. Warren & Crawford. M.D, Cooper & Co, Fricd!ander & Gorsan, Follows & Co. J, W. Champlin & Ce. iL. &J.M. Allen & Co. Thornhill & Co. R, Metthenny & Go. Rotchiord, Brown Co. Martin, Cobb & Go. Logan, Soniat & Ciaiborae. Gladden & Seixas. Copes '& Puelps. J. W. Burbritgo & Co, D. R. Carroll & Co, Qreon & Crump. A. D. Donovan, W. & D. Urquhart, Freilseu & Stevenson, J.J. Penson & Co, R. W. Estlin & Co. Waiker & Suyder, Winston, Mocrison & Co, Perkins & Co, Giliis & Forguson, J.T, Hardie & Co. ‘A. H. May & Co, B, M. Lowe & Co, J. & G. Cromweil, Moore & Brothor. Cleveland Bros. & Co, Mardock & Williams. Pholps & Jones, Payno, Hntington & Ce, R. Yeatman. Nixon & Co, Houwkins & Norwood, Start & James. Scruggs, Donegan. & Co. Patton & Kinnsy. Gitten, Smodes & Ca, John Willems & Co. F. B. Ernest. Carroll, Hey & Co, Edward Pisbury, Lovy & bieter. Wilson & Pomroy. Abat, Maryo & Cushmaa, Robert L. Adaina & Os. Horrol, Gayte & Co. ‘Thomas LIendoraon & Peale, Richard Nugont & Co, Watt & Noblo. McLomoro Rayburn & Ce. Battie, Noblo & Co, Bartley, Jolson & Co. Harding, Abboy& Mocehead, Hughes, Hytiestod & Co. Aby & Catching. James M. Putaam, J. V. Gourdain, Hall & Rodd. y & White, . inv X< Taylor, Vritchard & Flower, Montgomery & Hail, A. J, Tully & Co, Montgome B. 1 Holloway & Lonsdale, Sykes & Conly. Waker & Co. Rhyroc & Zants. Buoy, Avery & Co, ‘Tarleton, Wiiting & Tullis, Farley, duroy & Co. V. 1. Skipwith, Moore & Browder. Henderson, ‘Torry & Co. Alison, Pattison & Co. Wast, Itonshaw & Camianck, 4.1. Gribble & Co, Trois & Oglesby, W. Cox & Co, J.C. & B.S. Ricks. Hillard, Summers & Co, dobn £. Loo, Geo. Conneily and Co, Brandor, Chambliss & Co. Veiorson, Conway & Co. Coleman & Withers. Wm. Bf Beltoeg, Noblom & Oo, Lobis, Cha A. Lavi & Co. Duricsnil, A. Miltenberger & Co, Davis, J Ar. Miltenbarger. Scuuier & Stamps. Gallaghor & Dyer. Moses Greenwood, sentoil & Prathor. Black & Byington. John Watt & Co, Rossor, Prothro & Co. 1. hiufiiko, Broadwell & Haynos, Boil & Bouligny. Latorest & Desinare. Dunean, Payne & Co. J.B. Pauche & Co. Bradley, Wilson & Co, + doha F. Wyche & Co. W. A. Johnson & Co, Patton, Hendorson & Co, Lano & Salter. Rogers & Woodnil. Nw Onuans, July 2, 1861. THR RESOLUTION OF THE NEW ORLEANS UNDER WRITERS. Ovpicn Boaxn ov BxERWRITERS, New On is, July 23,1861. At a meeting of the Board hold to-lay the following res: Intion was adoptoa, and ordered to be published: — Resolved, That no river iu: we on cotton bound to this port, nor fre insurance Orloans, bo taken until tho bloc’ end tts free navigation resumed. Cotton on plantations red against firy to the extent of threo-fourths may be in rovistes stored in lots of not exceeding and fifty and the lots at least three hundred feot apart, JAMES H. WHFELER, Secrotary. THA MOBILH FAOTORS TO COTTON PLANTRES. Mommie, August 1, 1861, The undersigned, cotton factors of Mubile, in view of existing difficulties, recommend to tho pliniers, and all concornod, not ip # baie of cotton to this port, or to remoye it from their plantations, until the blockade is entiroly abauitoned and our intopendence recognized. W. We Allon & Co, Cavioton & Ca, Robertson, Brown & Ce. Miller, Weaver & Co, Baker, Lxwler & Co. Punch & Duggan, Weaver, Stark & Co, Hamilton, Young & Bust, Coleman & Boll. Kolly, Jackson & Co. Baker & Campbell. , Battle & Co. P. Bal & Co. Carlisio, Smith & Ce, Rogers & Pops. J. A. Womyas & Co. Boykin & McRae. John J. Waikor. Hudson, Byram & Co, ‘Toomer & Sykes. E. Brown & Co, Ho ston, Sims & Ce, J. W. Tolson & Co, Knott & Lyon, Mentgomory & McCarthy, Lampkin \ Ravesies, ©. H. Mingé & Co, M. T. Watts, Blough, Dent & Co, Waish, Smith & Co, Rupert, Stockard & Ce. 7. T. 'Tyroe & Co. Torden, Buck & Curran, Patrick, Trwin & Co, Wm. L. Waller. Greer, Bogle & Co. THY CHARLESTON PAOTORS’ CARD TO THR COTTON PLANTHRS OF SOUTH CAROLINA. Wo, tho uudersigned cotton factors of Charleston, in view of the s@®ting blockade, bog to present to tho plant- ore of this Stato the following considerations, Cotton, if sent to the seaports, could not be exported; it would, thorofore, aconmutate tn the stores and on the wharyos; for this, ho want of accommodation would be soon felt, increasing thy ordinary risk of danger from ox- posure to robbory and of firo; ‘and insurance would be Obtained with difficnity and at high rates. Aa accumulation of produce in our ports would be a censtant omptation to our enemios to attack and gain possession of it and could bo of nu benefit to ourselves. It has been sugacstod that foreign governments might Interest themsoives sufficiently to induce the United States governmont to relieve the blockade at one of the Southern ports only, 80 as to pormit the export of eotton from that Pert. We’ know that the planters of the Confederate States havo patriotiam and love ef tho common cause toe hoar at heart to permit thoir cotton to be exported under such ciroumstanges. We, therofore, recommend te our friemds, the cotton planters of this And other States, to send nono of their cotton to market until the bloekade is expressly removed from all of the ports of the Confodorate States, but to male arrangements te store it carefully and properly under their own sheds and gin houses. Adams, Frost & Co, Ravenel & Co, Caldwell & Robinson. Caldwell, Blakely & Ce. Wm. C. Dukes & Sons. J. & 3, P. Ravenol. Prasor & Dill. Mazyck & Howard. E. H. Rogors & Co. Win, M. Lawton & Co. J. & J. D. Kirkpatrick, De Veaux & Hoyward. Goleock, McCully & Malley, H. K. Atken & Co, Clarkson & Mey. ‘Smith & Dulin. Jobn Fraser & Co. Holmes & Stoney. Bowlo, Lafitte & Co. R. E. Brown, ‘ake & Moses. B.S. Rhout & Son. Gracser & Smith. Sims & Burksdale. J. D. Murchison. A. Gardello. Wm. K. Ryan. ‘Thos. G. Simons & Soa, Reoder & DeSaussure. RQ. Pinckney. Coffin & Pringle. Fa. Barnwoll & Son, Hanckel & Nowoll. Rebdortson, Blacklook & Oo. Legare, & Oe. Mowry & Co. Ingraham & Webb. Joseph A. Winthrep & Son. Wim. C. Bee & Co. J. 8. Chambers, Poter C. Gaillard & Ce. Wardlaw & Walker, @’Hear, Roper & Stoney. . SOUTHERN Iv Bis. A BRIGADIER GRNBRAL. Col, John B. Grayson, formeriy of the United States army, has boos, appointed a-Briyadior Genoral by Prosi- Davie, and ts aasigned te duty ou the Florida coast. FINANCIAL AND COMMERCIAL. Sunpay, Sept, 1, 1861, The revival in business noticed im our last weekly review still continues. Both jobbers and importers are more cheerful, and report an in- ercase of transactions. This is especially true of the dry goods trade, in which there is quite a marked improvement, chiefly in consequence of the reduction of stocks in the hands of country dealers and retailers. The new business is being established on much sounder principles than the old; no long credits are being granted; most of the sales aro for cash, or sixty @ ninety day paper. The trade in domestics has become somewhat speculative in consequence of the uncertainty attending the movement of the cotton market, With middling uplands at 19 cents per Ib., and a margin for a rise or a fall of five conts in a week at any time, manufacturers and jobbers in domestics find themselves In an unprecedented situation, and country dealers are similarly puzzled. Some operators expect to seo middling uplands worth 25 cents here and one shilling sterling in Liver- peol by the lst of January. Others, again, look for one of many possible events, such as areaction at the South, a seizure by the United State® government of a large quantity of cotton, an enor- mous supply of the staple from India, Egypt and Central America, &o., &c., and anticipate a decline to the oid figures befere many months elapse. I* is known thut a orop of some 3,500,000 bales will, in all probability, be made at the South, If the war prevents this property—which is valueless where it stands—from reaching a market where it will command $75 a bale, it will do what no war in human history has ever done before. The importation of foreign goodelast week was very light, as usual of Jate—tess than ene third that of the corresponding week last year. Tho export of domestic produce was heavy—some $300,000 in excess of the total inportation. As we have remarked very often of tate, the necessities of Europe will require large sup- plios of food from us this fall and throughout the winter, and if our importers keep their orders within bounds—as they have been doing thus far this season—there is every reason to believe that the cessation of our export of cotton will not lead to any drain upon the specie reserve of the banks. The following are the official tables of the trade of the port for the past week, and since January 1:— Iuronrs, For the week— 1859. 1860, 1861, Dry gools..-..... $2827 3,145,220 44,126 Gen morctiandise, "2,253,446 3/504)170 1,476"152 ‘Total for the woek. $5,004,602 6,649,499 1,070,278 Previouslyoported..172,648 011 158,768,768 90,030,173 Since January 1..$177,730,703 165,403,207 92,000,451 Exports ov Propvck AND MEacHaNDISB. : 1550. 1800. 1861. For the Wook. s+... ++ $1,248.581 2,021,402 2,275,158 Troviously reported., 41/650,344 66.572\056 81,716,278 Since January 1....$42,998,875 68,603,458 83,001,431 Exrorcs ov Sev. . 1859. 1861. For the week........ $1,684,879 1,7: 900 Previously reported... 45,102,210 34 3,150,169 Since January 1.. ..$47,287,080 36,989,403 3,151,060 ‘The bank statement has beoome unusually in- teresting and important since the late govern- ment loan was negotiated. On Monday last tho New York city banks showed a specie average of $47,117,151, being a decrease of $2,614,509 from the week previous, During the week for which this average had heen made up the banks had paid iate the Sab-Treasury $3,500,000 on account of tho government loan; the average, thereforo, én ite face, was a deolining one. On the other hand, hewever, a California remittance, which arrived en the previous Friday, only counted due in the averages, andthe Sub-Treasury disbursed money freely during the week, so that, notwith- standing the difforence between the actual payment made by the banks to tha Sub- ‘Treasury, and the average shown on Monday, it is possible that they may have held nearly as much gold on that day as thoir statement showed. Saice then they havo paid over to the Sub-Trea- wurer # second instalment of ten por cent on the loan. 500,000—and something like a million has been paid by the public for Treasury notes, the bulk of which money must have been drawn out of the banks. Against this—there having been no receipts worth mentioning from abroad or from Culifornia—there is nothing to set but the Sub- Treasury disbursements. It is safo, therefore, to look for a further considerable decline in the specie re- werve to-morrow. This, of course, will give rise to no uneasiness, The factiis, the removal of gold from the bank vaults, where it lies idle and unproduc- tive, to the ordinary channels of circulation, where itis of use, is a proper subject for genoral con- gratulation. It marks the gradual recovery of trade, and the revival of industry. It shows that the stagnation which has proved so fatal to all classes is passing away. The effect is precisely that which would have been produced by the sub- mission of the rebels and the peaceful recognition of the authority of government throughout the insurgent region. If peace were restored to- morrow, and commerce and industry began to revive, the first outward evidence of the change would be seen inthe rapid depletion of the bank vaults, and the circulation of gold in the old chan- nels of trade and enterprise. It is only when bu- siness languishes that banks acoumulate specie. The moment coin deserts the banks and begins to circulate freely among individugls, the inference is inevitable that business is improving, confidence gaining strength, and depression passing away. The bank discoupts last Monday stood at $137,663,938, the highest point they had ever reached. On the Monday previous they had been $28,846,504 lower. In the meantime the banks had discounted $35,000,000 of government obligations. Unless, therefore, the reduction of private ebligationg was unusually heavy during the week which preceded Monday, the 26th, it must be assumed that the average was a rising one, and that the state. ment which will be published to-morrow will show a further increase of loans as well as deposits. It is te be presumed that the current twelvemonth will witness a much bolder bank expansion than has ever been known here, Many experienced bankers look fer a discount line of $200,000,000 for our city banks, Saeh an expansion, which would be a just ground for alarm if it were based exclu- sively on mercantile obligations, becomes perfectly safe and natural when the obligations discounted are those of the nation at large.’ For if anything is goed in the whole country; if houses, or real es” tate, or bonds and mortgages, or stocks, or rail- roads, or State stocks, or factories, or shipping, or merchandise, or any kind of property be of any value, that value depends directly upon the main. tenance ef law, order, government and public credit, If the government of the United States cannet pay its debts, no kind of property in this country ig worth owning. The inference is inevita- ble that an obligation whose value cannot be im- paired without destroying all values whatever, will prove solid in any event, in a country possess- ing such eminent wealth and resources as the United States. - The money market continues dull. There is no demand for money among the merchants, and the payments on account of the government loan are effected so gradually as to cause no disturbance. Call loans range from 4 to 6 per cent; the leading houses borrow as much money as they want on suitable collateral at 5 per cent. First class short acceptances are readily discounted at 6a 6 porcent. Longer paper of the highest grade is so gearce that it is difficult te give a quotation. Second class paper is grewing loss abundant; rates vary, as before, from 20 per cont per annum te 3 per cent a month, Buyers of paper show a pro- foreneo for the notes of new houses, whose charac- ter isin goed standing, over those of eld ones whe horn. dene @ henry business, Iti. - eideat, how ee Se ever, that the large amount of money which has heretofore found employment in the purchase of commercial paper must be forced, by the contrac- tion of business and the decay of the long credit system, into a new channel. Buyers of paper wit hereafter find the government notes the best pu chase they can make, Seven and three-tenths per cent per annunt, with @ choice of a return of their money, or @ twenty years’ bond, within a sheet period, is better interest than the shrewdest capi- talist can get outside of the government loans at’ the present time.. Foreign exchange continues inactive. The lead? ing bankers sell their bills on London at 107% a %, and buy commercial bills at 106% a 10734, They sell francs at 5.2734 a 32%, and buy at 5.35 a 40. But the business done is quite limited. At these rates it does not pay to import specie from Europe, and thus there is no speculative inquiry for bills, The importations are so light that importers require but little exchange for purposes of remittance; our exports of breadstuffs supply all the bills which are needed. If importations do not increase, the advance in bills, which was predicted for Octeber er November, will not bo realized, notwitstanding the non-shipment of cotton, If the present re- covery in business should induce our importers te increase their orders, an advance would of course “be inevitable, and it would probably continue untill point was reached which caused specie to flew to Europe. us The following table shows the course of the stedit market during the past week and month: dag ne Ang on 16% 4% 13! m4 36% 85: 35 Erie... . 2 0% 25K Michigan Central: 4236 43° 41g 41 South. guaranteed. 29° = 291g RANK 4K «68% «(66K Oi OAK OL 403 38% = 40K 30° 8% a9 106% 106-1054 Mi 338. BBE Pacific Maul... Trex.d. 70% 123g The business in stocks continues small. ef railway stocks are unwil ing to scll, and people who have money evince no desire to buy. Speoula- tion is unusually cautions and limited. Operators who used to buy and sell a thousand shares at @ single board now tremble at a contract for a hum- dred. This is the natural consequence of the um- certainty which envelopes the future of all classes of securities. The railroadsare making no money, and will make no dividends this year except by. borrowing the funds to pay them. State stocks are very uncertain indeed. The proclamation of Gen. Fremont forcshadows the possibility of suck events in othor border States as may for many years preclude the possibility of their meeting the interest on their debts. And, finally, the immediate future of the general government's stocks—whichk are ultimately certain—is subject to the var ying fortunes of war, The national loan proves a complete success, Though tho 7 3-10 per cent Treasury notes will not be ready for delivery for ten days, the public are pouring in money at the rate of over a quarter of a million per day into the Sub-Treasury in ‘this city, and subscriptions, are being received elsewhere as woll. As soon as Mr. Chase perfects his arrange- ments, and authority is given to government agents throughout the country to receive subscriptions, the amount contributed will be very large indeed. In all probability the whole fifty millions taken by the banks will be disposed of before the time fixed for the second loan, and thus its negotiation will be rendered easy and certain. Nor could ithe otherwise. No investment in the market at pre- sent offers such security, coupled with such a haud- some return in the shape of income, as these 7 3-10 per cent Treasury notes. They are as safe and as certain as British consols or French reptes, and they pay their holder twice. as much annual inte- rest. They are far more secure than deposits im savings banks, which are liable to a variety of ac- cidents, and they yield from 13-10 to 2 3-10 more interest annually. They are safer and yield 1 3-19 per cent more interest than New York sixes, which are selling at 107. All consideration of patriotiam apart, the people will take these Treasury actes simply because they cannot do better with their money. The course ef events foreshadows a gradual withdrawal of money from the stocks and bonds of our great railway enterprises, and the commence-' mont of an era of speculation in government and State securities. People are tired of railroads tired of the repeated swindles developed by-re- ports of investigation; tired of waiting for divi- dends, waiting for traffic, waiting for economy ia management. In 1859 we were promised a new era of prosperity for railway stocks. Tho crisis of 1857 and the stagnation of 1858 had, we were told, led to large economies in the working of the roada, and at the first revival of business they were te be- gin once more to yield a large income to their owners. Business did revive; in 1360 the Weat was, all things considered, uncommonly thrivingy yet how was it with the railways? Hardly one among the number fulfilled the most moderate ex- pectations of its friends, The Michigan Central did not earn a divNend worth mentioning; the Mi- chigan Southern barely earned interest on its debts the Cleveland and Toledo could not pay off its float ing debt; the Illinois Central never deolared that di- vidend 0 confideatly predicted; the Galena earneds mere trifle, and has no means of meeting its matun ing bonds, which are to be thrown ahead by some financial tour de force; the Rock Island ceased pay: ing dividends altogether: the New York Central fe doing so poorly that the publication of its monthly earnings has been suspended; the earnings of the Hudson, Harlem and Erie are again declining. Everywhese the same disheartening spectacle of deferred debt, dishonored obligations, decreasing traffic, and invisible profit meets the eye; and i= many quarters the unavoidable embarrassments of the situation are aggravated by fresh outbroals of suicidal competition between rival roads, Cam it be wondered that the publio should have sickem ed of the whole catalegue of railway seouritios, and in view of the forthcoming issues of govern- ment and State paper, should be preparing to transfer its investments from the former to the latter? The purchases and sales ef rai way stocks, which used to constitute five sixths of the business of the stock board, mow constitate only about one-third of its transactions and are growing scarcer and rarer daily. The time is evidently fast coming when speculation will concentrate upon government and State securities, and people who want to sell @ hundred shares of Galena or Rook Island will ex» perience as much difficulty in finding a customer— at any price—as holders of Western city bends or canal rights do at the present time. CITY COMMERCIAL REPORT. Satcrpay, August 31—6 P.M. Asaws.—The market was quiet, with sales of pots a& $5 25. . Brrapstcvrs.—Flour—The market was firm for shipping brands of State and Western, the receipts of which wore light, owing wo the non-arrival of the usual tow and the demand to fill orders. The bettor class of extra State brands was irregular, but without change of moment im prices. Tho sales embraced about 18,600 bbls., closing within the following range of prices :— ‘3 sueassatas PL hebabel aed od Siraight to good oxtra do . Chojeo extra family and bak Rye flour. sf Corn meal, SO POTcahr ae Bsasssseae *