The southern press. [volume] (Washington [D.C.]) 1850-1852, 1852-04-10
From DE BOWS RepieW.
The Cotton Interest.

The evils complained Of by the cotton planters
are, that the prices of their staple production are
irregular, and too often not remuneratve. The
first named evil has at times been disastrously
felt by others than growers of cotton and if a
remedy can be devised, the good will not be con-
fined to the cotton planter
These fluctuations sometimes cause n differ.
ence of from thirty to sixty millions of dollars in
the sales of two crops; difference productive
not only of loss to the planter, but which some
times tells with disastrous effect upon foreign
exchanges and banking institutions. These
fluctuations are always in the inverse ratio of
the production. Thus, while crop of only
100000 bales of cotton will yield to the pro-
ducers one hundred and ten millions of dollars,
Il crop of 100000 bales will pay only sixty
millions; and the bounty of Heaven, in the gift
of good seasons, proves more destructive to the
planter than seasons ofdrought, food, storms and
frosts. This loss of fifty millions of dollars falls
with lis full weight upon the planter; but it is
also felt by all engaged in or dependent upon
commerce. and they are equally interested in
the discovery of remedy; yet it is chiefly by
such that cotton planters conventions are jeered
ut and ridiculed. True it is, that no good re-
suited from the action of the convention held
in Macon in 1889, and that as little can be ex-
pected from that lately held in the same city !;
but it does not follow that an efficient remedy
cannot be found; Mt any rate, the importance Of
the object will justify renewed effort
The dogma that prices must and will be
regulated by the relations of supply and dc.
mand," is by many deemed conclusive refutation
of all hope of success. But the question to be
solved is whether the supply cannot be regu-
lated as to secure regular and remunerating
prices" If it can, the remedy is found
If the cotton crop of the United States be-
longed to one man, remedy would be obvious
Naming his price, he would sell only so much as
ID required for consumption, and leave the resi-
due under his cotton shed, to supply deficiency
in the crop of ext year. and if the surplus was
large he would plant less next year. Such
course would be efficient for the object; and the
only obstacle to similar action by the cotton
planters generally is the difficulty of procuring
concert of action. The difficulty is great, but
think not insupcrable.
Besides the loss attendant upon large crop,
the planter is often subjected to loss upon a
small one, because Of his ignorance of the ex-
tent of the crop of the country. Cotton is the
agricultural staple of some eight or ten States,
covering vast extent of country. Seasons are
often favorable in some districts, and unfavor-
able in others Dealers in cotton take measures
to inform themselves, with sufficient accuracy,
OF the extent of the crop, and are prepared to 60
into the market with knowledge Of its value.
1t is their interest," too, to exaggerate its extent;
and this is annually done by publication of what
purports to be extracts of letters written in cot
ton States, but really fabricated for that pur-
pose. The planter, ignorant of its real amount,
and influenced by such statements, disposes OF
his crop at low prices, before the falsehood is
discovered
For low prices, remedy would be found
in an agreement to plant less cotton; but
that would not prevent irregularity in price,
because good and bad ssssons would still cause
irregular production; and although remunerative,
prices would be irregular. A bad season might
aslo so reduce the supply, as to throw out of
employment large portion Of capital, and Of