Nathanial Cox to Stephen F Austin, 10-24-1828
Summary: Nathaniel Cox to Austin, New Orleans, October 24, 1828.
New Orleans
Dear Sir,
The Enclosed is from Madam Garbajal's son at Lexington and recommended to your Care— please give it a conveyance.
Our Cotton Market holds out but little inducement for recommending you to make shipment this way. We have recd of the new crop about 6000 Bales, and not yet sold 500— there then has been a few small sales Made to complete cargo of Vessels at 9 to 11 cents, and one lot of Very fine cotton we sold as high as 12 cts.— Prices continue low in Europe— the stock on hand heavy— and the demand for cloth and yarns greatly diminished, so that I see but little prospect for the Cotton planter— All the State of Louisiana which will grow to maturity the sugar cane will be planted with it— as the prospect is so much better— this I think would be the most advantageous for your country to grow under Existing circumstances.