Danger of too much cotton being raised.
Our readers will share with us the surprise and pleasure with which we read the following paragraphs from the Montgomery, Ala.
It surely is good news to us to hear that, so far from the cotton crop proving to be a failure next year, the only danger against which it is thought necessary to warn the planters is an over-crop.
"The mania for greenbacks and the high price that cotton has been lately bringing, we fear will induce the planters of the South
to put too much land in cotton next year.
The ordinary calculations of prudence and sound reasoning should premonish them against such a policy.
Why is it that cotton sells at such enormous prices as now?
Plainly because of its scarcity.
And the price will inevitably decline as the production increases.
, Brothers & Co., of New Orleans, well known for the accuracy of their statistics regarding cotton, estimate the present stock of cotton in the United States
, old and new crop, at something over two million bales. If this be true, which we do not doubt, a large crop next year, say four million bales, would unquestionably bring down the price to ante-war rates.
On the other hand, a crop of half that amount would probably not materially decrease the price.
Would it not, then, be better for the people of the South
to raise only two million bales, which would bring them as much money in the markets of the world as four millions?
and in doing this, plant largely in the cereals.
With half the amount of land planted, half the labor, half the yield, and a two-fold price, they would have abundant supplies of food and grain crops, while with a full crop of cotton they would have short home supplies of food and grain crops, and with a small price for the cotton, its proceeds would be consumed in the purchase of necessary supplies."