The southern press., 1851-10-11


twenty-five years past, they think will abundantly
show,) that our difficulties have not been attrbut-
able to over production, bit to irregular produc.
ton, then is il not important that we should APP
ply the remedy, ii there is one! Irregular
production, it is conceded, cannot be prevented
but your committee think that organized concert
of action will control its effects. BY way Of
illustration, suppose that the wear 1851 yields
i 100000 bales, and that il is definitely ascer-
tanned that the capital employed is only suifi.
cient to manufacture 100000 Of the'e--now,
in the ordinary course of trade, the effects OF
irregular production would be shown by great
depression in price. But suppose the planters
refuse to send the crop forward to any greater
extent than is actually sufficient to supply the
| demand for consumption and retain urder their
1 own sheds the otter 100000 bales. Such a
course would secure them fair prices for the
amount Sold and control the natural effects Of
irregular production for that year. Then, sup
pose the year 1852 furnishes only 100000
bales; the ordinary effect of this. as has been
shown, wonld be 10 drive capital out of the
manufacturing business, and lay the foundation
for subsequent low prices. This would he con.
trolled by adding the 100000 bales retained from
the crop Of lS5l-supplying the manufacturers
demand, securing good prices tor both crops, and
preventing the arrangement which would have
resulted from withdrawal Of manufacturing
capital. Thus, the principle might be run
thror Oh any number of years; and, admitting
that there is no aggregate over production, every
crop would bring fair price, because offered
only in quantities sufficient to supply the de-
mand. Such system as this would protect us
against the consequences Of Irregular produc-
! ton, but it can never be carried into effect by
| individual action. There are no means of pro
curing the necessary concert, to say nothing OF
other insuperable obstacles.
If we would do any thing certainly and efiec-
lively, we must organize Cotton Planters As
ISOLATION. This should be chartered by the
States of Snuth Carolina, Alatama, Louisiana
and Florida, with capital Of at least $20,000,-
900, to be increased in amount, as the wants of
the business might require. The Association
should erect or purchase extensive warehouses
in Charleston, Savannah, Mobile, New Orleans,
Apalachicola and st. Marks, and establish at
each Of these points regular commission bus
mess, with view to the storage and sale of the
entire crop of the United States. -
For the purpose of securing to themselves
the whole cotton commission business, they
should establish minimum price, which, for the
purpose Of this argument, we will Tx at 10 to
l2i cents, accordingly to quality and location,
and averaging say l cents per pound. This
should be guaranteed to all their regular Gus.
toners, and to all parties holding ,tton pur-
chased of them, so long ns the said cotton re-
NAMED in their warehouses. The world should
have notice that, whenever the cotton offering
was not wanted by others, at or above the min
imum fixed, it would be wanted by the associ-
ation-that when once purchased, it would new.
er be resold, until taken at cost, adding storage,
insurance. interest on the investment, with
| g. oo;p
ing. This accumulation of charges should in.
duce the manufacturers to take their supplies,
before the company would be required to take
any; nor is it, indeed. likely that they would
ever be purchasers to any large extent Under
such system, the planter would not crowd the
market with cotton, as is now the case, and spec.
| ulators at the minimum price would purchase
freely, and hold with confidence.
Another inducement for such an organization
may be found in its capacity for increasing the
consumption, provided the raw material is fur
nished. The bagging and ropes necessary for
packing crop of 3 100000 bales, would require
about 100000 pounds, or about 100000
bales, of the most inferior part Of the crop
| This would be 4 per cent. of the entire yield.
| To insure this large increase in the consumption
of the United States, il would only be necessary
to erect the machinery for manufacturing these
a
production, aud discriminate in the minimum
price fixed, 10 such extent az might be found re-
cessary, against the cotton packed In any other
material. This would insure the packing of the
entire crop in our own staple, and provide for
| the employment Of a considerable amount or
labor in manufacturing the bagging and rope ne.
cessary. But this is not the only increase to be
effected in the consumption; the guarantee
which the manufacturers everywhere would
have Incidentally that his goods, when made,
could never be brought into competition with
goods made from cotton at lower prices than his
own, would induce the production Of larger
proportion of coarse numbers-feeling that tn re
could be no risk In stocking himself heavily,
spindles would not be stopped, or short time re-
sorted TO because orders were not in hand for
work ahead-the manufacturing business would
he characterized by greater regularity, and con.
Quoted with greater conference.-the supplies Of
/ goods would be better, and the consumption
larger Another induoement for such an org,ni-
cation is the great saving Of expense in getting
our cotton into the hands Of the manufacturer.
The Liverpool market governs the American
market, and il matters not where the planter sells
| his cotton, he sells In reference TO what is the
supposed net value in Liverpool, and the differ
ence between the price in our own sea ports and
the price in Liverpool, Is the measure Of charges
and expenses paid by deductions from the price
Of the crop when sold. Taking the period of
ten years, from 1870 to 1850, il is found that the
average price in Liverpool was 295 100 cts per
pound higher than the average during the same
time in The seaports Of the United States. TAX.
irg this as the measure Of charges and ex.
penses, and estimating our production for the
next ten years at 25OO00O bales, Of 500 lbs.
each, and the expenses may be stated thus.
$50 900 900 lbs at 295.l0O cts ID. 36,S75 900
Add storage in American seaports av-
eraging months, so cents per bale
on 2, 100000, 1,250,000 |
Drnyage on do. q 10 250,000
Mending do. as l25,000
| Brok ge, extra labor & n Is 375,000
| Commission on sales a IS dol.
per bale a q p. CT. 3,437 500
5,437 500