The Sumter banner. [volume] (Sumterville, S.C.) 1846-1855, 1852-03-30
The Price OF Cotton.

ooiSS3 AOAih WHICH, VIZ cNlIdCI lilc lOl-
lowing suggestions relative to regula-
ting. the price Of the great staple. His
ideas are not new, but are presented in
a somewhat tangible shape. 1t is
strange, but nevertheless true, that
experience has demonstrated that
large crop of cotton realizes smaller
aggregate than smaller one. Thus,
a crop 100000 bales yields the
sum of sll0,O00,0OO, while crop of
2,S00,00O bales only yields $780,
100000. Whether the suggestions
made are practicable or not, is yet to
be determined:
The dogma ''that prices must and
will be regulated by the relations of
supply and demand," is by many
deemed conclusive refutation Of all
hope Of success. But the question to
be solved is whether the supply can
not be regulated as to secure regular
and remunerating prices?"' If it can,
the remedy is found.
If the cotton crop of the United
States belonged to one man, remedy
would be obvious. Naming his,
price, he would sell only SO much as
is required for consumption, and leave
the residue under his cotton shed,
to supply deficiency in the crop of
next year; and if the surplus was large,
he would plant less next year. Such
Il course would be efficient for the
object; and the only obstacle to similar
action by the cotton planters general
ly, is the difficulty procuring concert
of action. The difficulty is great, but
| think not insuperablc.
Besides the loss attendant upon a
largo crop, the planter is often subject
cd to loss upon n small one, because of
his ignorance Of the extent of the crop
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 unfilvorablc in Others.
Dealers in cotton take measures to
inform themselves, with sufficient ac-
curacy, of the extent of the crop, and
are prepared to go into the market
with Il knowledge of it's value. 1t is
their interest, too, to cxaggerate its
extent; and this is annually done by
publication of what purports to be
extracts of letters written in cotton
States, but really fabricated for that
purpose. The planter, ignorant of its
real amount, and influenced by such
statements, disposes of his crop at
low prices. before the falsclood is
discovered.
For low prices, p remedy would
be found in an agreement to plant less
cotton; but that would not prevent ir-
regularity in price, because good and
bad seasons would still cause irregular
production; and although remuncrative,
prices would be irregular. A bad
season might also so reduce tho sup
ply, as to throw out of employment
large portion of capital, and Of opera
tives now engaged in it's manufacture.
Such a state of things would be
deplorable, and in the end Injurious to
the grower. His interests, and those
of the manufacturer, are best sub.
served by regular and reasonable
prices.
The first thing to be done by
the Convention, should be the adoption
of a plain for asccrtaining the extent Of
each years crop. This is essential.
to all judicious and efficient action.
propose to effect it by the agency of
Planters Societies, to be organized in
every country in the Cotton States.
BY districting the counties, and dis
tributing the labor among the mem
bers, the crop of each county can be
ascertaincd by the middle of January
every year. The county Societies
should Immediately thereafter report
tho amount the crop to committee,
or some officer, residing at the scat of
the State Government, who should
report the aggregate crop of the State
to central committee, to be appointed
by the Cotton Planters Convention:
upon which central committee should
also devolve the labor of obtaining
all attainablc information respecting
the probable demand by manutactur
ers, at home and nbroad-thc supplies
which may he expected from other
conntrics-and, generally, all the
information in its power, connected
with the production and consumption
of cotton.
The information referred to. and the
reports from the State committees.
may be in possession of the central
committee by the lst Of April in
each year, and should be published;
and the planters advised what pro
portion of their respective crops should
be sold, and what retained
But inasmuch as a considerable
portion of the crop is annually
sold before the report of the central
committee could be made, | propose
an agreement among the planters, mot
to sell more than two-thirds of their
respective crops before receipt of
said report, and not to sell any for
a price less than agreed upon" And
further, ''not to sell more of the re-
served onc-third, than shall be advised
by the central committee" For illus
tration of my meaning: Slpposing
the crop 2,700,000 bales, the sales of