The state chronicle. [volume] (Raleigh, N.C.) 1883-1893, 1889-12-20
Y. c., FRIDAY, DECEMBER 20, 1889.

. 90.
THE HOPE OF THE SOUTH.
HOW TO GET l3 CENTS A POUND
| FOR COTTON.
A Hopeful and ORIGINAL Plan Advanc.
ed by Prominent North Carolina
Lawyer.
| lCOL HARRY SKINNER, of Greenville, N.
c., has contributed a striking article to
Frank Leslie's N. Y. Weekly, which we pre-
sent for the consideration of our readers
-EDIToR.]
The verdict of the country at the polls
last fall was for protection to American
industries, and it becomes the South to
make the most of it. There is hope for
the South if we are able properly to use
natures special gift to us-our power to
| produce cotton-for cotton is still king,
| and will continue to be if fair treatment is
accorded it. If the same ratio of protec-
| tiOn were extended to the producers of
this staple that is granted to manufactur-
ers, We would feel that we were dealt with
justly, and be more kindly disposed to-
ward projections; for under equal protec-
ton cotton planting and cotton manufac-
turing would march together to prosperi-
| ty. Every conceivable argument for the
| protection of the cotton manufacturers
can be urged with equal justice for the
protection of its producers. Cotton pro-
duction employs more labor, and creates a
larger market for Northern and Western
produce. The higher the price of the sta
pie, the better for all concerned.
| l maintain, as an economic proposition,
that the Government, by extending to the
planter the same ratio of protection that
it extends to the manufacturer, can secure
to the former thirteen cents per pound for
his product. | name thirteen cents be-
| cause that would be obtained by adding
forty seven per cent to the present average
market price, and that is also the average
percentage of protective duties. To un-
| derstand my proposition we must know
| the relative proportion of the cotton crop
| of the Southern States to that of all the
| world, and also that the cotton mills of
| this country never consume more than one
quarter of our annual crop, while Europe
an mills must have the remainder to keep
their machinery running. The total an
nual crop of the world is estimated at g.
500, 900 bales of 400 pounds each. The
| Southern States produce three -fourths of
this crop, or about 1000, 900 bales The
worlds consumption of all kinds of cot
ton goods increases fully as fast as does
| the production of the staple, consequently
there is no surplus at the end of any fiscal
year to indicate over-production. 80
| long as the supply is in excess of fair mar
ket demand" says Mr.. Kelly, 'the pro-
ducing nation may name the price of its
production" The United States is such a
nation. Its planters produce three -fourths
of staple which is of the utmost impor
| 70 70 ho he of Ill
the cotton consumed by foreign nations is
the product of our Southern fields. Is it
not q reasonable, a just demand, that the
planters to whom this country is indebted
| for this annual creation of wealth should
receive such protection from the Govern
ment as to retain an equitable share of the
profits of their labor2 Our cotton manu-
facturers are protected and become rich
because of it. Our cotton planters are un-
protected. They cannot, unaided by the
Government, fix the price of their product
What l contend for is that the Govern
ment shall throw around cotton culture
the same arm of protective care that it
| gives to the manufacturer, and thus as
sist the cotton planter in making the Eu-
| ropean manufacturer pay a reasonable
price for his product, thus relieving the
former from his present dependent condi-
tion of being compelled to market his crop
at such price as the European manufac
turer dictated twelve months before
through the agency of the Liverpool Cot
Exchange. 1t is cruel as we'll as unjust
for the Government to tacitly permit the
manufacturers of Europe to control the
price of one of our most valuable crops, one
which is grown nowhere else in such abun-
dance or of equal quality. It is manifest
| ly to the benefit of every American inter-
est that, if the Government possesses the
power to prevent sacrifcial prices, it should
| exercise it as simple act of Justice to the
poor, long-neglected cotton planter.
| Now for the solution of the problem
the means by which the Government can
give this assistance without hazard of
loss. Let part of the treasury surplus
be expended in building cotton warehouses
at convenient points in the South. Let
the Government say to the cotton planter,
eff manufacturers will not pay you thir-
teen cents pound, bring your cotton to
the warehouse, and on strict and proper
| grading you shall receive warehouse re-
ceipts" Suppose 1 term them cotton GER
tificates in analogy to gold and silver GER
tificates), Sat the rate of fourteen cents a
pound for standard grade. You must
pay the warehouse a fee of one cent a
pound to cover all expenses, costs, and
risks" These certificates could be issued
for ten, hundred, and thousand pound
lots and be made negotiable. Il say four
teen cents because this adds the one penny
the Government has received to the price
the cotton could be purchased for before
entering the warehouse. If a large part
of the crop should pass through these
warehouses the revenue would leave a
handsome profit to the Treasury after
paying all paying all expenses.) These
certificates would be the same as cash to
the planter for all purposes, for they
would be accepted by every one as readily
as are gold and silver certificates. These
are general suggestions only, but they
form the basis of plan that can be per-
fected in detail by proper legislation.
The practical result of the plan thus out
lined would be only to prevent the Liver
pool Cotton Exchange from debating the
price of our product, while European and
American manufacturers, knowing that
the planter was sure Of getting thirteen
cents for his cotton of standard grade, re-
alizing the statistical position of the sta
pie, ,eand compelled to have it or suspend
operations, would go into our local mar
kets and. pay thirteen cents rather than
buy up Government certificates at the
| hioher Drice or tn nav in the Same at the