The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1876-07-27
gutelligesseer.
FIFTEEN CENTS FoR COTTON.
A Remedy for Large Crops and Star
vati0n Prices.
From Me Charleston Me,ps aud Courier.

From the Charleston Ne,rs aud Courier.
1t seems to the writer that the present
position of financial and commercial af-
fairs, as affecting the prospects of the
agricultural and especially the cotton
producing interests of the South, and
foreshadowing widespread distress to all
classes, unless speedy betterment is
brought about, calls for the serious con-
sideration of all our people aud for the
devising of such means as will bring re-
lief.
1t is admitted that our people are in a
great measure responsible for the position,
BY their own want of thrift since the war,
and by their persistent action> in confin-
ing themselves So strictly to the raising
of cotton, to the neglect of the more es-
sential matter of making abundant pro-
vision crops, and having their cotton crop
entirely surplus one. Had this course
been steadily pursued, the planting in
terest would now be out of debt, and
could afford to sell cotton at 8 to 10 cents
per pound. But we must take things as
we find them, and our planters are not in
the position which they ought to occupy,
but are unfortunately, most of them,
heavily in debt on the growing crop, with
the prospect of getting much less for cot
, ton this year than the last, unless the sit
.uatien is changed. Can that be done?
is the question, and I answer that it can,
by a united and determined action on
the part of the planters of the South.
The present and prospective low price of
cotton is in a great measure due to the
natural cause of the excessive production
of late years, overrunning the consump-
tion, but other causes, not natural to the
business, have, tended to depress prices,
and will continue to do so until planters
learn wisdom, and, by .unanimity in
counsel and decision in action, put them
selves in position to dictate the price of
cotton instead of being dictated to. The
chief of the unnatural causes alluded to
is the influence brought to bear of late
years, in depression of prices, through
the system of future selling as practiced
in this country and Europe, The system
of short selling brings in an element
which before was unknown, and whereas
in old times every one wanted cotton to
advance, because speculation could make
no money without it did SO, now large
and inscriptions moneyed influence at
the principal cotton centres of the world
can sell short, or,.in other words, sell to
make money by decline, and then so
manipulate to depress prices, that we
have often seen the anomalous position
in the market of decline in the article
when the natural position would seem to
warrant an advance but for these outside
influences. The aim of the short specu-
lator and of the cotton spinner thus be-
ing to get cotton as cheaply' as possible,
regardless of the detriment to the farm
ing interest, and in fact of the general
interest of the whole country, the ques-
ton occurs, how are the planters to pro-
tect themselves against the evils which
have ruined many and threaten TO ruin
all? The answer again is, by so control
ling the production of cotton as will
make the outside and unnatural element,
which is now the enemy of the cotton
planter, his friend, by giving strength to
the bull element and forcing the money
rings to seek to corner the market for
rise instead of fall, and thus forcing
speculation in favor of cotton instead of
against it. After prices are forced up to
a point which would pay the planter, say
IA to Is cents at the ports for middljng,
their interest in the battles of the bulls
and bears of speculation would cease.
The question as to how the control of
production by the planters is to be ac-
complished, is, think, very easy of So
luton, and only demands little of the
energy, perseverance and tact displayed
so often in fostering enterprises of much /
less Importance. The plan is this: Let
all the cotton planters of the South unite
themselves into Cotton Planters Pro-
tective Association, to be brought about
as will hereafter be explained. Let that
association be fully empowered to enact
rules and regulations for the government
of the entire cotton planting interest, to
decide every year what amount of land
is to be planted in cotton, so as 10 regu-
late the approximate number of bales
which will be produced each year, due
regard being had to the policy of not
having the crop too small or too large,
but such crop as it is likely could be
marketed at minimum price of not less
than fourteen cents per pound for mid
ding at the port, thus giving the farmers
fair remuneration, and keeping prices
within such range as will afford fair
profit to spinners, and tend to maintain
the position of American cotton against
too severe competition from India and
other cotton-producing countries.
Now, supposing that last March, when
it was pretty well conceded that the
current crop would be over four and a
half million bales, it could have been
determined that for this year the crop
put in the ground should, under no cir
cumstances, exceed three and half mil
lion bales by curtailment of the acreage,
what different state Of things would
now exist. Cotton instead of dragging
would be selling freely at three cents per
pound higher than it now is. The mills
of the world would be actively engaged
instead of working short time. Goods
instead of numbering the shelves of man
ufacturers and jobbers would be in good
demand at prices remunerative to the
manufacturer, and we should have no
more cries from Providence journals"
for complete stoppage of work, so that
the mills could get the produce OF the
poor planters for next to nothing, In
order that New England mills could con-
tinue to pay big dividends at the. expense
of poor operatives and cotton planters.
would here call to mind that several
years ago, and I think in 1870 and 1871,
we had large crop, near 4, ,400, 900 bales.
It cost good deal more to make cotton
then, as corn and bacon were much high
er. Prices of that crop, according to best
of my recollection, seldom exceeded IA
to IA cents for middling at this port,
and were considered pretty low, and in
consequence of which farmers did not
pay out, and there was great outcry all
over our State and the Southern States
about too much cotton being planted, the
result of which was that, without any
organization to control or direct, much
less acreage was olanted. which fact, cou-