Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1871-01-27

entire cotton pro 1ucing States. Where It's
cultivation ia attended with great cost for
fertilizers, a longer continuance II raising
cotton TO the exclusion of the provision
crops will certainly bankrupt the plan
ters.
In order to present the views OF practl-
cal men upon this important matter we
rive prominence to the following well
oons,dered article from the Augusta Ban
ney. Of the South and Planters Jo"r"6''
which deserves consideration
"No country can become rich, which,
being purely agricultural ITSELF fails 10
produce a full supply of provisions 'or
man and beast No class of agrlcnlturists
can be permanently prosperous VINO 1all
to make all the supplies on the farm when
are necessary for the support and main
tanance Of their laborers and work ami
mails. Even in the day OF slavery, when
much more attention was paid to the fals-
inp of provisions than now, few planters
realized six per cent on their lnVestment
from the sale of their products. 1t is true
that many cotton planters amatsed large
fortunes. but, SO far as our knowledge ex
tends, they We CT the class, not numer-
GUS even then, who made on the pianta-
ton, in addition to large cotton crops
abundant supplies of provisions. 1t was
this class who realized most from the ma
tural increase of their slaves, because the
supplies of provisions necessary Tor the
greatest productions and fullest develop
ment of young slaves were abundant on
their plantations, and, therefore, cheap.
"The cotton planters have glVen all
cotton fair trial eince the close OF Inc
war. They have for five years devoted
their entire plantations to the prodnchon
of this loading staple, and with rare indus
try and energy, devoted themselves to the
raising, of largo drops. Within that period
the seasons have been generally good ana
their crops as full as the labor, care and
money bestowed upon them would war
rant, vet they are to-day, as class, as
poor as when they emerged from the
desolation of the war During this term
they have realized large. prices for their
cotton except for the crop of 1867 and that
of the past year
"There can be no doubt as to the future
price of this staple. Like all other pro-
ducts of the farm, its price is regulated 10y
the supply and demand. Ii the demand
for consumption is III excess OF the supply
produced, prices will rule correspondlugly
high. When production exceeds the wants
Of the world, and a large surplus IS On
hand, prices fall to ruinousIy low prices
and remain there as long AS the excess over
consumption is maintained. Inc pres
emit condition of the cotton market aud o.
the cotton trade, illustrates this truth -
The crop of 1869 barely exceeded the con
sumption of that year, and the average
price for that crop was about "a cents pei
pound-a rate at which cotton can b'
raised with profit on the thin laiids OF thu
Atlantic States. The crop OF last yea
promises to be largely in excess OF the es-
timated wants of consumers, and henc
the price falls to point actually below tn
cost of production. Perhaps prices Nigh
have ruled slightly higher than they ar
now, even though very large crop
made. if there had been no war in Europe
But with peace profound in all the Euro
pean States, the supply would be Target
in excess of the wants Of commerce.
eve cannot, ihen, hope for an lncreas
of price so long as the relations of the de
mand for consumption to the visible SUI
ply remain as they are-so long as the pro
duction of the staple is SO largely In exces
, Of the wants of consumers.
, 1--WE Ike it for granted that planter
are agreed that the cost of raising cotto
is near or quite the price at which 1t
} now selIing-say about 121 to Ii cent
| net. We do not believe that it can b
raised, except in exceptional cases of II
vored localities, for this amount. But al
hitting that the estimate Of its cost whlc
we have made is nearly correct, does 1t nc
t necessarily follow that persistence IN tn
3 system of over-production will inevltab
: lead to the ruin of the producer? Wi
:, then planters, in making arrangements II
3 the incoming crop. best consult their o"
/, interests by curtailing the production
= cotton to such en- extent OF least as w
8 enable them to save full crops OF provl
ions Does it not have the appearan'
of insult 10 ask intelligent planters such
question And yet we fear that man
f very many, will go on this year as in Il
/, past, devoting themselves exclusively
r cotton, and relying entirely on the We
q for bread and meat, and provender f
i stock. That disaster and distress will fo
?, low them We entertain no doubt.
: "This is matter of too much impo
D. lance to be lightly considered or hasti
/ determined upon. Planters should lo
: the situation squarely in the face-consi
D. or we'll the teachings of the past. and stri
Of to calculate with goGe degree of accurs
"a the results of the future. With large pI
n vision crops, well filled barns and an al
is pie larder, the perils of cotton plantl