CORRESPONDENCE OF THE BANNER1
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NEW URLEANS, te0 b, lo4i

 DocToR BoRLAND: Dear Sir: In compl- ance with your request, we address you on the subject of our cotton market.

 On the Sd instant, we received Liverpool accounts, per Britania, to 4th January. Af- ter the arrival of the Boston steamer of the l7th December, showing reduced estimates of our cotton erep-with the corroborating facts of the supplies into our shipping ports falling of, as compared with last year, the Liverpool market improved sales to the ex- tent of 10000 to 12,000 bales, per day, were made and prices advanced fully l to 3-8d. per ID. Fair Orleans is quoted at , i'd; and no American cotton, at all merchantable, could be bought at less than 7-8 to 5d.- Should the abundance of facilities, with good trade, continue, prices in Liverpool and Hav- re may reach Id. to 19d higher; provided our crop proves, as we now estimate It at, not more than l7,000,000 bales. Some, here, go as low as 16,050,000 bales; but we incline to the former estimate. The ef- feet upon this market, by the latest foreign news, has not met our expectation. This is | owing to the fact, that prices, here, had ad- vanced, in anticipation of the foreign market; and are still from to cents too high for the foreign orders to be filled. Until their market comes up to ours, we must rely on speculation to maintain prices and this is checked, at present, by an advance in freights to New Y ork and Boston, and by decline in Northern Exchange. Bills at 60 days, were sold freely yesterday, at 23 to 3 per ct discount Under all circumstances, we can not look for cotton to be higher during the present month and as freight advances and exchanges get worse, so must our market decline. The sales of cotton yesterday and to-day shew Is to l decline from prices a week ago.

 Respectfully, your friends, Sc.