The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1888-11-27

of 1862 where the representatives OF
thirty five different countries from
which supplies might be expected, met
to concert measures by which the de-
mands for the staple might be met
and to inspire and encourage the cui-
ture of cotton. But ten years later IN
the Exhibition of 1872, which was
specially devoted to this purpose, a
few only of the cotton countries which
had sent their representatives and
samples in 1862 again appeared and
then for the most part only to bear
witness to disappointment and failure.
America had again entered the field
and bid defiance to the world. With
the Southern crop partially cut off
from 1860 to 1865, and with the
world growing all that it could during
the war and it's close, we saw cotton
as high as $3.50 to So per pound in
New York. This ought to convince
us, if the statistical position Of raising
three-fourths of the crop of the world
has not done so already, that we have
a monopoly in this great staple, and
that it ought to be used not for pur-
poses Of oppression or in detriment to
any other interest, but in facing some
of the monopolies of which VIZ COM
plain, and from which we are suffering,
at least to the extent of making its
production reasonably profitable. Some
say if you establish cotton warehouses
that the great West will want ware
houses to protect its products. The
great West belongs already to the
protection column. She votes that
way believing in the argument Of a
home market. She acknowledges that
she is already protected to some extent
by voting to maintain the present
tariff. Not so with the South and
her unprotected cotton. Besides. the
government cannot extend similar
protection as herein suggested to the
great West without hazard of loss, for
corn, wheat and pork are all perish
able; then only a small per cent. of
these is exported, nearly all being con-
sumed in America. Besides, the corn,
wheat and pork countries are deeply
interested in the cotton belt receiving
a good price for it's staple, for the
reason it makes the South a larger con-
sumner of and able to pay better prices
for Western products. Suppose at
the close of any given cotton year
there should happen to be one million
of bales Of cotton in these warehouses.
For this to accur the American crop
would have to exceed seven and a half
million bales, and the worlds con-
sumptive demand decrease rather han
increase, as it must necessarily do to
keep pace with and supply the needs
of the worlds increasing population.
Still, if such did occur, the govern
ment could possibly sustain no loss.
Only her guarantee upon these Ger
tificates would be afoat, and as a col
lateral for that guarantee she would
have the cotton in the warehouse just
like her guarantee for silver certificates
is secured by the deposit Of the gold
and silver, or similar to her guarantee
upon National Bank notes which are
secured by a deposit of United States
bonds. If these certificates had at
any time to be redeemed, l hold that
it would be better for the cotton to be
in the warehouse at the command of
the government than to have the idle
surplus in the vaults with no means of
reducing it except through the unjust
anticipation of the public debt at the
expense of paying % per cent. pre-
MUM. For should the government
at any moment plunged into an i'm
mediate war, she would feel better
eqipped to fight her battles with the
actual cotton to clothe her soldiers
than with idle money in the treasury.
No nation is esteemed by the comfy
of nations so wealthy as that nation
which from her can draw
~sustenance to clothe and feed her SOL
diers in days OF years of war. 1t
must be admitted that these cotton
warehouses would destroy the cotton
speculation of the world, that a por-
ton of the profit would remain with
the planter; the New York and Liver
pool Cotton Exchanges would disap-
pear from the commercial horizon. It
would mean death to the cotton specu-
lator, life to the cotton planter, and
an equitable division between him and
the manufacturer of the profits worked
out of the staple at a price that would
work no injustice to the consumer.
Ny sympathies are with the cotton
planter, for equal prosperity to all Sec
tions, for life on the farm as we'll as