New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-12-03
rHE COTTON I Il AND rs POLICY,

was made by the Chamber OF commerce
in the year 1870 It was based on tn
necessity Of organizing representation,
| for the producer instead of leaving tn
manipulation of crop returns to tn
| manufacturer and consumer. The com
mittee appointed to inquire ''into the ex
pediency of establishing in New Orlean
a bureau for collecting and publishing
the statistics of the cotton crop growing
and on hand" reported the reasons il
favor of such an institution. They were
in short:
That the large stock and large capital o.
the manufacturers gave them an advantage
in holding over the planter and shipper
The holders of stock can run their mills or
short time, while the capitalist can carry
the staple over to another crop. The com
petition between these two great an
tagonistic interests being obviously unequal
The consumer has the fixing OF the price
very much in his own hands.
The price OF cotton il, however, greatly
influenced by the statistics of the growing
| crop. This does not, from the causes stated
affect prices as suddenly as might be in the
case of provisions, an article of the fret
necessity. The causes stated postpone,
| though they do not prevent the influence OF
| the growing crop in prices.
The consumers of cotton in Europe and
in the Northern States of the Union appre-
| ciste this ultimate influence. and with ad-
| mirable ssgacity provide for themselves an
anterior knowledge of the crop result by
| obtaining the statistics of the current crop.
An accurate knowledge of the crop in all its
| stages may thus become an element SO i'm
Mt n ntinina tim ~ Fl vi tho AupfI,a
tions Of prices that the correspondence of
| Southern planters and factors is of much
Importance in forming the estimates OF Eu-
rope. Agencies have been instituted in
Manchester, Liverpool and the United
States for the acquisition and publication OF
authentic knowledge on the subject. Pri-
vate firms in Massachusetts, have published
pamphlet reports based on information
Communicated by planters, and the Depart
ment Of Agriculture at Washington has es.
tablished q special bureau whose estimates
are accepted as authentic. All these or
CARNATIONS aud publications are, as it will
be observed. in the interest of The consumers
of cotton.
What are the counter representations of
the producer Of cotroni They .consist
chiefly in the special circulars of q number
of most respect able factors. Each expresses
his opinion of the state Of the cotton crop
and the prospects of price. Each represents
fairly and faithfully the knowledge acquired
from the section of country or circle Of his
particular patrons employed in cotton pro-
ducti0n. Those familiar as ourselves with
the sensitive nature OF the growing cotton
crop can well understand that single rain
or drouth prolonged for q single week, a
local scarcity of labor which prevents crop
culture at critical moment, or the appear
ance of the worm in any locality may Affect
the prospects of production. This must
produce . coutrariety of impressions on the
part Of the factors, each circular being
based on the state of facts communicated
by the constituents of each factor. All this
may be readily corrected by the adoption
Of the same associated and cooperative
system employed by our opponents.
The report continues the reasons why
our factors are the best authority for the
growing crop, and concludes with recon-
mending plan for the organization of
50 Southern bureau of the cotton crop
growing and grown" No amount of mere
recommendation would have established
this bureau, but the progressive deman DIS
Of commerce did. The old system of cotton
factorage was exclusive and competitive.
Certain factors had peculiar opportunities
Of acquiring knowledge of the market at
home and abroad. 1t was natural they
should have guarded this intelligence, and
made the most of it in advising their con-
stituent planters. The telegraph knocked
much of this exclusive intelligence, and
published stocks and rates daily for the
use OF everybody. The cotton roller on
the levee could know as well as the ship
per what cotton was worth in Liverpool at
midday. Cooperation was inevitable. 1t
economical Office rent and telegraph
charges. 1t brought men together and
saved time and talk. 1t did even more.
Possessing almosta monopoly Of the Mis-
sissippi crop, or fifty per cent of the whole
crop, New Orleans had become Indifferent
to the cost or the waste of storage and
sale. The drayage, the storage and
the samples were SO much left
in town by trade that could 90 no.
where else. This 'city crop" was clear
gain. The competition Of the cross rail
rendered it important that cotton should
be handled at as little cost and with as
much dispatch at New Orleans as else
where. The report of President Phelps
shows an astoni shing perfection in this
matter, 30 that New Orleans can now
boast Of the most just, as well as the best
cotton market in the Union. There is,
o theorsm which is of undoubted
application. It is the cheaper and more
expeditions the sale and transfer of q com.
modify, the more extended the trade area
Of that market. II, in illustration, an
Of ono dollar bale can be ef-
fectsd on Anchorage or in handling the
cotton Aeld Of the market viii be extended
and developed in an additional radius
equal 10 tls distance which bale could
Be carried for ons dollar. II our factors
could compress, sample and reship cot
tcn Without any dnyage at all; il
instsad Of ehassing the cotton ex-
poFt Win u cost Of dnyaee from
warehouss toship. cargoss could be moved
y kusksspn NIL along The slsvee, me
odpser would rscsivs more Of he market |
psics and would pfoduss moss oetton
yaluee for the fActor. There would b ne
- % he factos II cohvsxtins ths manual |
"a aainnal lsbor employed u nakine |
o. t6assss a The prodnction Of moro |
oof1pR a. SUGAR. - - s{iiqs gst 1900