Monday, December 13, 2010

The Nashville Cotton Market

Upon inquiry, we have ascertained that down to the 1st of this month permits were granted for the shipment from Nashville, of 2,918 bales of cotton.  The requirement of permits for the shipment of goods from this to the loyal States having been abrogated, it is not easy to ascertain the precise number of bales of cotton that have been shipped since the 30th ult.  Upon the inquiry we have ascertained that since that date there have been shipped [684] bales.  To this amount may be added from 50 to 100 bales shipped by outsiders who are unknown to us.  The whole amount shipped since the 11th of March when the trade was opened may be set down as not less, and probably something over 3,000 bales.  The price it now commands readily is twenty cents in gold or U. S. Treasury notes – at times lots at twenty-one cents and others 19 cents.  The entire amount which it may be expected will be shipped from this place during the season is estimated at about 18,090 bales.  From two to three thousand bales have been burnt by the Confederate troops – chiefly in Giles county.  The cotton already sold at this point has brought into the country $300,000 of good currency either in specie or U. S. Treasury Notes.  If no obstacle shall be placed in the way of trade by further operations of rebel marauding parties composed of worthless and irresponsible vagabonds, the cotton already shipped and to be shipped at this point will bring $1,800,000.  That burned by the rebels is estimated at [$300,000], the average value of the bales being $100 each. – {Nashville Union.

– Published in The Burlington Weekly Hawk-Eye, Burlington, Iowa, Saturday, May 17, 1862, p. 3

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