Scope and Contents

When he was his [RMD] age, had learned to make his own opinions about cotton; made any mistakes but learned from them; it took letters much longer to travel between New Orleans and New York when he began working in [18]32; does not like to hear peoples' opinions; prefers to know facts; thinks that most cotton operators do not want to think  for themselves; must always consider quantity and price; the two should be multipled in order to determine total value; in America and in England they are governed by quantity; on the European continent, price is most important; has underestimated the present crop, but it will not be a serious problem; this season, in the North where white labor predominates, production has been excellent; thinks they will see a substitution of America [cotton] for other kinds; the export of British cotton goods to India is not lessening because of the Bengal Famine; trade in Manchester, England is slow, as is the New York market; asks him to let W.W. Gwathmey read the letter; will sends his [{RMD] father a press copy of the letter. 8pp. Cy [?] of ALS