The Sumter banner. [volume] (Sumterville, S.C.) 1846-1855, 1848-11-22


crstbey receive five cents orseven cents per
pound, as nm advance to that extent would
have no material effect upon the consnmptions
We again express the opinion, that if an or
ganised concert of action among Cotton Plan
ters cannot be effected, the suggestion, of the
3 Constitutionalist is entitled to serious con-
sideration, and that those who can afford fo
w,thhold ther crops, by doing sd would great
~ benefit the planting interest generally
without mourning the slightest risk them
selves. i Ssh 81, II s.Sfi
AtoNvENTION OF e OTToN PLAN
*, i3f.5 "a TIERS. % .t
This idea is acquiring popularity in some
quarters, and we do not doubt Sthat such
an ,assemblage would prove useful to the
South in some respects But I'VE do
not believe that it can result in any direct in!
fiuence upon the Cotton market. I It has been
tried before. without any perceptible5 effects.
Only a few years ago, convention, compo.
sed ofmany of our most intelligent planters
and able statesmen from several Cotton grow
Ing States, assembled at! Macon. Some
able sreeches were made; an address put
forth, embracing some very valuable informa-
tion and statistics. and imparting useful adj
viceto the Cotton planter; and they were
ehown, by plausible reasoning, thatjtIie Cot
ton growing States could control the Cotion
fdarket Of the world and bring all nanufac-
turing countries TO us to purchase our Cotton
at our own price.
The process of reasoning on this point is
already familiar to the public. It is unuues
tionable true. that If Southernplanters would
only make Cotton as surplus product, after
raising every thing they need and must have
on their plantations, that it's possible TO raise,
then the production of Cotton would be ti-
minished and its price correspondngly nd
venced. The true difficulty is, there is too
much produced, compared with other planta-
tion products. Ii planters would diversity
their labor, and thereby diminish the demands
on the proceeds of their Cotton crops, they
would feel less Of hard times. They would
be less dependent on prices ruling in the
Cotton market They would have money on
hand even at present low prices, after paying
necessary. expenses. This remark will ap-
ply tp planters cultivating land good enough
to repay the labor. For nnquestionahlc there
are tens of thousands Of acres in cultivation
IN Cotton, SO poor as not to pay for the labor
expended on it.
s;ACottOn Planters Convention would re.
suit in good, by giving some homely advice
like thus, though in more impressive form
of words and with more imposing array Of
facts and figures. Such convention would be
in some respects useful in bringing intelligent
minds in consultation, and in deyislng schemes
for agricultural improvement. They might
accomplish good on large scale in the same
way that county agricultural societies do.
But we do not think that they could devise
commercial or financial schemes to control
or regulate prices. Nor could any concer, of
action be so agreed upon, and adhered to, as
to control prices by holding up largo amounts
OF Cotton until the supplies, pressed by sell
lcrs on the market, are exhausted.
The amount of Cotton is too arge-the
number of producers loo numerous, and scat
tered over too immense an extent Of country,
and their capacity TO hold OH to their crops
varies too much. according to their debts, or
their surplus money, the character and Ioca-
ton of thcir lands, aud ever varying opinions
OF men as to when is the best time for selling.
One reason, among many others, why Cot
ton is so low, is that a large class of specua.
tors in Europe who formerly bought Cotton
when it reached a low price, rs good invest
ment, arc no longer in existence. The capi-
tai once employed in this way is wholly
swamped in the commercial disasters of lhe
Inst fourteen months, or embarked in other
Investments.
Those staunch friends of the Cotton plan
ter who used thus to Interfere to hold largo
supplies of Cotton, and prevent its gong be-
low its intrinsic value, now no longer exists
in Europe. Cotton is now. left to be control
led solely by The elements of inniedi,te sup.
ply and demanl9 Prospective considerations
have now comparatively little influence.
In conclusion, we would remark, that there
is class among ourselves and their fellow
Cotton planters. They may supply the place
Of the foreign speculator. That class is the
Cotton planters who can afford to hold on to
their crops, they not being in need Of money
Let them keep their crops-one, two, three
successive crops. if necessary, on their plnn-
tations, never bringing their Cotton to market
until it gets to that price which will be n re-
munerating price. This il must, in tho na-
ture, Of things reach, III time. For no coun-
try will, or can, produce an article for many
years that willno repay the cost Of produc-
ton.
Many sections OF country will abandon The
culture of Cotton at present prices. The an
nual production will diminish faster than the
annual consumption, and prices will react.
No man who can hold Cotton without any
expense of storage and inconvenience could
possibly make q safer investment Why
&ihen sliould>u planter, not in want Of money,
selllIis Cotton to put tho proceeds in any olll-
er inYestnent.
The NEsToKiAN BlsHor,--Mar Yohan.
man, well known in this country from
having visited here with Rev. Mr.. perk.