The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-09-13
THE COTTON PROSPECT.
4 GEORGIA ESTIMATE OF THE
GROWING CROP.
Hints Planters and Factors.
From the Columbus (Ga.) SUM-

From the Columbus (Ga.) Sun.
The latter part of July we gave review of
the condition of the cotton plant, and the
probable yield at that time, "a all the cotton
growing States, founded upon informa-
tion obtained from numerous exchange
with the press in all these States, and
from disInterested correspondents. We
then gave it as our opinion that the
yield would reach 2,7OO,o0O bales. In that
review we conceded that in Texas the
crop, on the area planted (Which we put
down at an eighth to fourth less than the
previous year, would give an average yield,
as compared with the previous crop. Our
advices from tina. State at this time do no:
sustain the estimate then given. The drought
which has prevailed successively for over two
months, in more than two-thirds of the State,
has played havoc with the forms and young
bolls, and resulted In the entire destruction OF
the top crop. The universal estimate in that
State ls, that the area planted will tall more
than third short of last years yield.
We also estimated that the crop OF North
and South Carolina, and Florida, would make
an equal yield In the area planted, with that OF
last year. From all of these States the reports
are that great change has taken place with
in the last six weeks. From all OF them not
more than three .fourths OF crop is expected
10 be gathered.
The crop In many portions of Arkansas, also;
Is reported to have suffered heavily from
drought, causing the loss of the top crop.
Our information from Georgia, Alabama,
Mississippi, Louisiana and Tennessee, does
not change our views then expressed OF the
condition OF the crop and the prospect OF yield
in those States.
With this evidence of change In the situa-
ton, we now put the yield of the crop Of
1912. at not over 2,500,0 900 bales at the out
side. Taking this to be the true status Of the
situation, what Is the duty of the planter to
himself and his section? 1t Is well known
that what Is termed 'Cotton Ring exists in
New York. composed both of manufacturers
and moneyed spectators. This ring, which
has grown rich off the losses of our planters,
has been busily engaged the entire summer IN
writing up the growing crop to large yield,
in despite OF glarlng facts to the contrary,
and have not given up the effort. They
yet persist In an estimate OF three and q
hail 10 four millions. This is done to delude
Liverpool and enable them to secure the bulk
of errop at low figure. They act, too, upon
the suppositlon that planters are indebted to
the merchant class for supplies and advances
to the extent of two.thirds OF the crop, and
that this much of 1t, OF necessity, will be
thrown or the market as fast as ginned and
packed. This latter feature has been taught
them from past experience.
Then, we repeat, what is the duty of the
planter? 1t is plain. Snch as are In debt for
supplies or advances should bring forward
their cotton and make the best arrangement
possible with their creditors, even to selling,
If necessary. In this emergency. the mer-
chant has duty to perform also, In extending
oil the leniency IN his power when cotton
collateral has been placed in his hands by the
planter debtor. These two classes are mutual
is dependent on each other. The merchant,
Ii agriculture is cramped and feeced, can
not prosper. If what we have stated as
the probable yield of the crop be true, and
we believe we are correct, then every
pound of cotton made Is worth thirty cents.
Less than twenty-five cents will not remune.
rate the planter for the making of the present
short crop. The proper effort at accommoda-
tion between the Indebted planter and his
merchant, with disposition on the part
of the unembarrassed planter to hold
for twenty-five cents, will soon march prices
in the interior markets up TO that figure, and
save millions of dollars to be expended at
home, which, with different policy, will 60
into the pockets of the manufacturers and
spectators OF New York and Liverpool.