The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1882-04-06

Mr.. F. G. Morehead, presi-
dent of the body. 1t is so full of
wisdom, and presents the case SO
fOrcibly, that, for the benefit of our
planters. we reproduce an extract
from his remarks. If needed, they
will be productive of much good,
not only to the planters of the Mis-
sissippi valley, but throughout the
cotton belt. He spoke as follows:
"If the price of cotton has de-
clined from eleven to eight cents as
the crop increases from 5,500,OO0 to
6,500,O00 bales, it will be somewhat
interesting to our people, from anal
Joyous reasoning, to know that
we could scarcely expect more than
an average of six cents per pound
for a crop of 100000 or 100000
bales. You cannot say that my hy-
lpothesis in regard to such a crop is
an impossibility, for have we not in
creased the crop in few years from
100000 to 6,500000 bales? the in
crease for the past year alone being
about 100000 bales in round num-
bers, with u similar increase for this
year confidently predicted by the
buyers and spinners, and looked
forward to with trepidation by our
own people. Let us anticipate the
what may happen, and suppose our
growing crop reaches 100000 bales
or 3,200,000,000 pounds, which at six
cents would give us S192,000,000, or
$28,000,000 less than 100000 bales
brought us and $18,000,000 less than
our 6,500,000 crop. Now, if we
are to hold our own, as the crop
increases and the aggregate sum re-
ceived tor it decreases, we ought to
be able to buy our mules at lower
price; we ought to be able to hire
our cotton chopped out, picked and
ginned at lower prices we ought to
pay less for our bagging and ties,
and we ought to be able to purchase
all our supplies at less rates. But
what is the fact? You all know
that prices are not materially les
sened to the planter for anything,
ana, on the contrary, big crop
means to all the world who sell to
the planter big prices for their goods,
no one counting its suicidal cost,
and all believing that such a crop
must render the planters rich and
prosperous. Bu:,a !my cOuntrymen,
too well you know, or at least will
know, the mockery of such pros
perity. And l say to you, if such q
thing does come to happen, the
tabled Tantalus, surrounded by
water, with not drop to drink, will
not be in a more pitiable condition
than you, surrounded by your cotton
bags, with not a cent in the world
you can call your own. Even now,
on all sides, the cotton factors have
become our largest planters, many
of them owning from five to as high
as fifty plantations, and L make the
assertion, without fear of contradic-
tion, that not one was gotten from
planter who made cotton surplus
crop, but from men who kne "
nothing and would learn moth
ing but to make all cotton. With
one more remark L will return to
my calculations, and it is this-if
the god of dire disaster, storms, pes
thence and famine sees fit to urge
our people to pursue their present all
cotton system of farming until they
shall produce 100000 bales, there
will not be one OF this category OF
planters sound financially LETT in the
country. Providence, on the other
hand, with far-seeiDg wisdom.
knowing only bankruptcy and ruin
will ever make some planters give
up the all-cOtton plan, may be TAX
ing this terrible manner of saving
them at last, on the principle of the
surgeon who cuts unsparingly to
save the patient who has been given
up as fOrlorn hope"