The times and democrat. [volume] (Orangeburg, S.C.) 1881-current, 1886-12-09

structiYe Facts about the Cost Of Grow
ans Cotton~Debt ind Extravasant Liv-
6 ing the Cause OF tho Farmers Poverty.
COLUMBIA, S. C,::SoYember 22.-Capt.
Paul F. Hammond, of Beech Island,
Aiken county, has contributed a most
interesting and valuable article to the
annual report of the commissioners OF
agriculture Of this State, regarding the
cost OF producing cotton in South Care
lima. Capt. Hammond says that
cents a pound seems a very low figure
at which to placs the actual cost Of
making cotton, and yet while it costs
many planters 8 cents, some 10 cents,
and not a very few even IL cents, the
Tact stands rs fact within his own
knowledge, that it has been made tor
less than four cents, and he claims that
it can be demonstrated 10y figures that
on finer land, with judicious and scono-
mical methods, indnstrioisly pursued,
it can be made, and should he made, at
four cents, three cents, and even less
than three cents per pound. Even then"
Capt. Hammond continues, selling his
crop at an average OF seven andF q half
cents net, there is no>great income left
to the prolacer of thirty, fifty, or even
a hundred bales Of cotton,
He then submits a detailed estimate
of the cost of making cotton per acre,
showing the net cash expenses to be
about 81. If the product was $40
pounds Of seed cotton, or $50 pounds of
lint, the cost would be 1888 cents per
pound; where it was 200 pounds lint,
81 cents. and where it was 250 pounds,
2.4-5 cents a pound.
Can't. Hammond continues The
planter who makpS cotton ut a cost OF
$hree cents and sells it for eight cents,
ought not certainly to complain of the
percentage of profit upon his expenses.
So. too, as a rule, the per cent. of pro-
fit, 'on the total investment in land,
mules, machinery, implements, &c,
will be found one which business men
are accustomed to regard as large.
Property: is SO extremely low that a
planter making an average crop OF lOO
bales will not need to have invested
more than $4,000 to 3,O00-$10OO in
land and buildings, and $500 in stock,
supplies, machinery, &c.
IF. then, he be a good planter, on
moderately fair land, for none is really
good land which will not bring 3OO
pounds of lint cotton, when manfred,
he will make from $50 to $50 a bale,
and his income will be from $4,000 to
$2,5oO-a very fair return from his
capital aWhsIt, then" he asks, '.is the
matter?" Why is there so much COM
plant? Are not the cotton planters
fast sinking into q condition OF almost
hopeless poverty !','zs. might answer,
he saws. that tie whole world is grow
ing poorer. The business depression
everywhere is marvellous, unpreceden-
ted. and agriculture among the worst
sufferers, as she always is. The great
Northwest cannot stand wheat at 80
cents. Three-fourths of the farms are
mortgaged to their full value, and their
nominal owners and tenants can only
endure their miserable lives because
they were reared in the poverty of the
Old World. For some years it has
been known that in every county In
England scores Of rich farms are lying
tenantless and unworked; and now we
have the statement on good authority
that rent on the average is not more
than los. an acre, and, OF this 15s., los.
is required to pay interest on the in
vestment in buildings which the land
lord has made, leaving the mere pit
tance OF IS. (S1.25) to represent the
rental of land which makes from twen-
ty to fifty bushels Of wheat. Why, in
the cotton.groWing section OF the
South, where it is healthy for a white
family to live, land rents for from two
dollars to ten dollars per acre."
Capt. Hammond then discussed the
different modes of living in the North
and West and in the South, and thinks
that one of the causes of poverty in the
South is eXtravagant living, but the
real cause is debt and an outrageous
rate of interest. "If," says he, 1.-The
manufacturers want cheap cotton they
must give us cheap money.
"But there can be no interest without
debt, and the South is deeply in debt.
Neither for this is her agriculture or
her planters so much to blame. What
people or what business, except on the
bear side of Wall street. ever proSpered
or could prosper with market falling.
falling, falling through twenty years?
At the close of the war cotton was
WI III lOllg CSillo. tllu ~ 1Sll, AiVeiS ~
little, steadily for twenty years, until
it has come down to eight cents and
the cotton planters are impoverished.
If at that time cotton had been eight
cents the difficulties to be encountered
would for time have been terrific; but
if it had then risen steadily, year by year,
through twenty years, until the price
reached forty cents, the Southern plan
ters would have been rich-rich, pros
persous and as happy as money could
make them. In 1S43 cotton was six
cents; negroes sold for $3.50, and the
planters were poor. BY 1860 cotton
sold for l2 cents per pound and negroes
for $1,000. ard therein lay the secret Of
the great wealth of the cotton planters.
It was not the money they made: the
percentage upon capital invested is
greater now. 1t was not money saved
out of incomes which were larger than
they could spend. BY no means. 1t
was by the gradual, and in the end very
lo,,t,,