The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1875-03-18
A Loss of Millions by the Cotton Planters.

Last autumn we directed attention, as we
had done the year before, to the financial ln]u:
nv done to our cotton growers by the specula-
tions going on at the time in the great staple
product of the Southern States. We were ac-
cused of being "bull," to use the vulgar jar
gon of the spectators, because we expressed
the opinion that the cotton crop OF lo74-75
would be less than four millions of bales, and
it was said, moreover, that our opinion had no
foundation.
Since then our judgment, which was made
up from comparison of all the facts and re-,
ports then in our possession, has been tested
by time, and, leaving out of the account the
welfare of the Southern people, we are very
we'll satisfied with the result. The highest es-
Inmates at the present time place the crop at
three and three-fourths millions OF bales, and
from all the information we can gather 1t Will
not surprise US if the total amount shall be
even less.
Unfortunately for the agricultural interests
of the Southern States the verifcation OF our
estimate involves direct loss to the cotton
planters of great deal of money. They have
already sold nearly three millions of bales of
cotton to the English manufacturers at the rate
of seven and one-half pence pound, or one
penny-that is, two cents-a pound less than
it ought to have fetched. We have maintained
that, whenever the crop falls below four mil
lions of bales, cotton ought to be sold for nine
pence a pound, and according to the prospects
now this will be the rate for the remainder OF
the present crop. But fair price for what IS
left will make but poor amends for the loss on
what has been sold and in no sense will relieve
from responsibility the spectators, who, by,
reason of the unusually favorable weather OF
October, November and December, and the
consequently large receipts of cotton at the
shipping ports during those months, were able
to depress the price. The loss thus inflicted
upon the cotton planters of the country on an
estimate of two cents pound, amounts TO nlne
dollars bale on every bale sold, or IN all to
S27, 100000, and reaches the proportions OF
national calamity.
The history of the cotton trade for the last
six months ought to teach all persons interest
ed in it one thing, namely: that excessive sup
plies of the marketable article early IN the sea
son furnished no just ground for believing that
the total crop will be large. Calculations to
be trustworthy must be made on the area plant
ed, the care taken of the growing crop, the in
fluence of the weather, and other similar causes
of large or small crop. The mistake made
in this respect in the present instances may be
fully illustrated by brief comparison.
Among the last six cotton years, those OF
1901 and 1874 are considered as the large
cotton crop years. In the first Of these years
the country produced 4,352,00O bales, and in
the second All 900 bales. We will now COM
pare the receipts at the shipping ports during
the first four months-from the beginning OF
September to the end of December inclusive
of each of these fruitful years, with the re-
ceipts during the same period of the present
cotton year:
1901. 1884. 1o747o.,
/ 499, 600 bales 1,73S,OOO bales 1887 bales
It thus appears that there were received for
shipment during the first four months of the
present cotton year 4S8,000 bales more than in
i870-71, which is known as the great cotton
wear. But now turn to the receipts for the
months of January and February of the same
wears. and observe the change:
1901. lS73-74 1S7485
/ 100000 bales 1901, 900 bales 100000 bales
This shows a falling off in two months of the
present cotton year of 100000 bales as COM
nared with the same months in 1901, and OF
37O 900 bales as compared with last year. In
other words, the homely saying that four gal.
Ions of liquor can be poured as quickly out OF
a fve-gallon keg as out of sixty-galIon
cask. has received new illustration. The
point of the proverb becomes apparent when
one begins to wait for the fifth gallon Our
English customers are now becoming aware
that the cotton crop of this country tor III the
present year is approaching exhaustion; Inc
advance in price which will undoubtedly tci,
low the discovery of this melancholy tact Will
90 into their pockets and the pockets OF the
Spectators, and not into the depleted purses OF
the cotton planters OF this country, where = ~
Justly belongs-N Y. Evening Post, Marc@ o.