PROVIDENCE BANKS. (Capital, Jan., 1862, $15,454,600.) Due 871,800 Due from banks. $915,400 898,500 1,057,400 925,500 900,400 934,700 911,100 1,081,000 893,900 1,180,000 953,900 1,283,000 1,598,800 Loans Specie. Circulation. Deposits. to banks. $19,356,800 $408,700 $1,889,600 $3,054,600 $1,099,800 19,238,700 402,900 1,890,300 2,899,200 1,071,500 19,160,600 394,700 1,756,500 2,899,600 959,400 19,160,600 394,700 1,811,100 2,950,500 19,087,700 395,900 1,814,300 2,915,200 19,109,400 394,800 1,784,000 2,762,200 18,869,800 396,800 1,879,100 2,792,700 18,920,500 407,500 1,791,200 2,924,400 18,953,900 405,100 1,973,500 8,030,600 1,131,500 18,998,600 408,500 1,848,100 2,946,800 1,103,200 1,484,300 19,148,400 408,300 1,879,200 3,060,900 1,085,000 1,407,700 19,360,500 411,300 1,857,100 3,078,800 1,021,000 1,165,400 19.641,000 417,500 2,102,000 3,124,000 1,115,500 1,063,200 19,719,200 416,600 2,036,800 3,017,700 1,081,000 19,644,500 408,600 1,953,400 3,015,900 1,020,400 19,620,300 413,700 1,877,200 3,123,500 894,800 845,400 948,400 961,200 950,430 1,156,072 1,714,400 19,538,410 417,378 1,979,828 3,134,601 Date. Circulation. Deposits. Deposits. Securities. Jan. 1.. £20,818,190 £7,345,833 £15,036,062 £30,419,730 £15,961,439 8 pr. ct. 21,086,675 4,542,974 18,206,488 81,022,505 16,046,017 21 21,460,925 4,583,353 16,480,452 29,509,854 16,291,626 24 21,697,928 5,467,340 15,366,081 29,464,720 16,350,939 21 66 "29... 21,183,376 5,753,063 14,751,486 28,696,456 16,280,369 21 Feb. 5.... 21,427,554 5,788,441 14,179,917 28,834,352 15,956,903 24 12.... 21,286.312 4,884,989 15,526,334 29,010,241 16.042,949 24 "19.... 20,772,726 5,397,144 15,085,843 28,771,812 15,894,405 2 ❝ 26.... 20,736,715 5.762,849 14,939,742 29,024,962 15,749,065 24 Mar. 5.... 21,217,246 6,755,287 13,737,507 29,692,441 15,673,898 23 "12.... 20,013,685 7,527,911 13,763,718 29,489,795 16,027,111 24 "19.... 20,483,509 8,011,694 13,340,928 28,953,089 16,548.586 21 "26. April 2. 66 9.... ❝ 16.... ❝ 23.... " 30. 20,814,655 8,413,275 13,154,258 29,140,207 16,812,798 24 21,822,105 5,625,314 16,336,169 29,981,793 16,881,940 24 22,048,463 5,225,132 15,710.260 29,825,888 16,743,434 24 21,655,553 5,584,973 15,915.247 29,022,128 17,172,204 21 21,946,997 6,867,375 14,357,007 29,164,075 17,089,446 21 May 7.... 21,752,884 7,503,991 13,866,643 28,961,214 17,265,745 24 21,618,780 6,804,683 14,948,308 29,076,079 16,919,147 24 21,539,430 6,557,811 14,567,671 29,483,044 16,344,940 8 21,265,561 6,987,808 14,685,087 29,824.704 16,178,815 8 21,515,263 7,518,007 13,188,136 29,841,864 15,489,723 8 21,829,641 8,825,516 13,156,662 81,396,492 15,036,100 3 #4 21,076,059 9,322,949 13,085,271 81,342,547 15,268.453 8 25.... 21,172,057 9,629,594 18,899,245 31,424,661 15,909,638 8 July 2.... 22,242,361 9,672,345 13.851,869 $2,709,039 16,220,771 THE COTTON QUESTION. 1. CULTIVATION OF COTTON IN INDIA-DEBATE IN HOUSE OF COMMONS. 2. CULTIVATION OF COTTON IN QUEENSLAND AND JAMAICA. 3. STOCK OF COTTON IN EUROPE. 4. THE SUPPLY WILL EQUAL THE CONSUMPTION. 5. COTTON IN ALGERIA. CULTIVATION OF COTTON IN INDIA-DEBATE IN HOUSE OF COMMONS. THE European Times, in speaking of the cotton debate in the House of Commons on Thursday the 19th of June, says: This debate has not occurred a day too soon, and if any impetus to the movement on the part of the government were required, it was found in a deputation from the operatives of Lancashire, who had had an interview on the morning of the day on which the debate took place with the Indian Minister. The sufferings of these men and their families appear to have produced a deep impression on Sir CHARLES WOOD. The capacity of India to grow a better description of cotton than previously, and the desire of the manufacturers of this country to use it when it reaches them, was made apparent to the members who were present, as it will be to all who have perused the debate. But there are, nevertheless, formidable difficulties in the way-difficulties which would be almost insuperable if the existing state of things in Lancashire had not a tendency to brace every nerve to attain the desired end. First, there are the ryots, who, poor, ignorant, and superstitious, require every inducement that capital, the best seed, the best training, and the utmost liberality can extend to them. Then come the difficulties of transit, and the expense of railways, the improvement of the Godavery, respecting the capacity of which river under any system of engineering to answer the purpose of traffic, the most conflicting opinions prevail. Again, in the financial position of the Indian Government is found a formidable obstacle. With an expenditure greater than income, and a deficit, at one time formidable, but which is every year becoming less, considerable caution is required respecting the raising of new loans, and the carrying out of vast undertakings with borrowed money. These are, undoubtedly, formidable drawbacks, but the government are willing to meet them in the face of the serious and protracted dangers with which we are threatened. It appears to have been conceded throughout this debate that years must elapse before we can look again to America for a supply of cotton, and some of the most intelligent speakers expressed their belief that the southern portion of North America would never be able to supply us, as hitherto, with enough of the staple for our own wants. But some of the practical men in this debate held out the encouraging consolation that, with proper care and a wise liberality towards the ryots, Indian cotton might in a short time be brought up to the standard of middling New Orleans, and indeed some small stocks of cotton from the East, answering this expectation, have been received, and their value tested by actual spinning. Setting aside. minor considerations, the speech of the Indian Minister appeared to meet the question very fairly, but enough transpired to show that the production of cotton in India will always be more or less intermittent, more or less of a lottery, as long as the price in the home market is uncertain and the demand irregular. Even when all that the government can be expected to do has been fairly done, the spasmodic efforts now about to be recommenced will relax and ultimately become paralysed, unless the spinners in Lancashire will give up the exclusive dependence they have hitherto placed on America, and extend, even should the South begin to supply us again sooner than is at present expected or believed to be possible, some portion of their patronage to the Eastern · supply. The misery of being exclusively dependent on the Southern States for an article of national existence like cotton has been the cry of the Manchester manufacturers for years past, and, though they have had associations in existence to remedy this evil, they have effected little or nothing towards that end. They have talked rather than worked, crying to Hercules for help without adequately helping themselves, and they now find that they are surrounded by a starving population, and their works and capital suspended. In fact, to such an extent has this lethargy been carried, that the Southern planters conceived themselves masters of the situation, and boldly proclaimed that "Cotton was King." Events, so far, have not quite realised this anticipation, but our sufferings at the present moment, in consequence of the cotton famine, are only inferior to those which the belligerents are themselves enduring on the Western Continent. If the same exertions had been made to procure cotton from India and elsewhere that we have seen put forth during the last fifteen or eighteen months, we should now be spared the distress under which both the operatives and those who employ them in this country are laboring. It was solely and exclusively a Manchester-in other words, a cotton question; but action was deferred until the wolf was at the door, threatening to devour the inmates. Adversity is a bitter school in which to graduate, and we are at the existing hour tasting its bitterness with a vengeance. The truth is, that the wealthy capitalists of the manufacturing districts refused to put their hands into their pockets to provide a remedy, with becoming liberality, until it was too late-until the war was really commenced, and if they had suffered alone, the amount of sympathy felt for them would not have been extensive; but unhappily others, who are by no means to blame, are suffering also, and far more acutely. It is for the poor-for those who have no friends-that our philanthropy is awakened, and we hope that the crisis through which we are now passing will prove an instructive lesson in all future time. COTTON CULTIVATION IN QUEENSLAND AND JAMAICA. QUEENSLAND. The following was received at Liverpool by the June mail, via Marseilles:-Three experienced gentlemen have lately arrived in Brisbane with a view to cotton cultivation on a large scale. One of these is managing director of the company lately started by Mr. BAZLEY in Manchester, another is engaged as manager of the Booval Company, and the third agent for a wealthy Sydney firm. Two large emigrant vessels-the Montmorency and the Clifton-bringing an addition of 450 to our population, have arrived during this month. It has been determined by the government that after October 1st, land orders shall be given to such persons as arrive in Queensland direct from Europe; also, that these orders will not be received in payment for town and suburban lands sold by the government, but only for country lands. We are glad to find that a large number of the emigrants have already obtained employment, and the prospects in the country districts for those who have gone up is also good. One matter we are particularly pleased with, and that is the very respectable class of persons who have come out by both vessels, those who evidently will make really good colonists. This reflects great credit on the judgment of Mr. HENRY JORDAN, the emigrant commissioner, through whom most of the passengers have been induced to venture their fortunes in Queensland.-Queensland Guardian. THE CULTIVATION OF COTTON IN JAMAICA. The agent of the Jamaica Cotton Company, at Manchioneal, Jamaica, writes by the same packet as follows:-"I have a great number of people employed, and one week's pay-bill came to £39. I have to turn away the laborers by hundreds, and some of them cry when I do so. We are getting fine seasons for planting, and the cotton is growing beautifully. The Egyptian cotton is coming in fast, and we are also picking Sea Island. Even some of Mr. OGDEN'S cotton is blossoming. I have sent round four more bales for shipment, but we find great difficulty in getting it taken. The Royal Mail Steam Company refuse to take it on any terms, and Holt's Liverpool line, will only take it if they have room. I am, however, trying hard to get the fifteen bags sent by this packet--they contain 2,200lb. I am still buying small quantities from the negroes. We will get a good quantity to buy next year, as many people are planting. We have plenty of Mr. WEGUELIN'S red bugs, but they do not hurt the cotton in the least, they appear to get into the cotton for warmth, and tumble off directly it is touched. They only come at this season of the year". A Wesleyan minister, writing from the same parish, states:--"You could not have fixed on a better place as a matter of economy, for Muirton is near the shipping place, not even a mile distant from it, and possesses a fine water-power for the gins, and is in the centre of a district that for eighteen miles has not a single property of any description to compete in the labor market, except the governor's property. As an act of charity to the people, so destitute of employment, near at home, by which they can get a little ready money, it is looked upon by them in the light of a merciful Providence, whose opportunity was found in their extremity.' There is an abundance of land in this district adapted to the growth of cotton, and though other parts of the island have lands which would yield heavier crops, yet I know no spot where there is less competition for labor, and where the people will be more cheerful in working for moderate wages faithfully and punctually paid. My servant (our cook) planted a tree in 1854, it is a wide-spreading tree in perfection now, and in seeds and cotton has yielded at lest eight shillings' worth in the year. Two of my people at Fair Prospect, near Elmwood, picked each 12lb. of cotton in the seed off two trees at one picking, but they had picked cotton before off those trees, and will pick again and again before the year is out." THE STOCK OF COTTON IN EUROPE. The following is an estimate of the stock of cotton in Europe on June 1, 1862, as compared with the corresponding period of 1861. The returns are reliable: The annexed figures show the gradual decline in the stock of cotton at Liverpool since the commencement of the second quarter of the year: The quantity of cotton now on hand is therefore less than one-fourth of the stock in store two years since. 324,690, 1,358,630 289,120 THE SUPPLY WILL EQUAL THE CONSUMPTION. As to the future supply and consumption of Cotton, the Exchange Review of Liverpool says: Though the prospects are anything but pleasing, and do not warrant us in looking for any immediate improvement, still we do not think them gloomy enough to force us to abandon the belief that, though our position may not be better, at all events it will not be worse than at present. |