The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1891-08-20
OUR BIG COTTON CROPS.
Farmers VIII Raise Them and the World
Wants Them-Ruinously Low Prices
Not Necessary Result Of n Great
Yield A Texas Mans Hopeful
View of the Situation.

y Galveston News reporter inter
viewing Mr.. Julius Runge; one of the
largest cotton,men Of the South, asked
his opinion of the proposition, so often
discussed by the Farmers Alliance in
the various States, to reduce the acreage
Of cotton and thus secure better prices
for what cotton they raise.
cit is good plan, of course" said lie,
"but it cannot be put into practice.
When one man reduced another would
increase, so as to have more cotton for
s9e coming. .g9aaciSSrr:1ees .gaSr:ees. Of course, if i
sSearcity could be made, better prices
would prevail.
But" said he, II think it is a mis-
take to credit the present low prices to
over-production. We have made
large crop and there is every indication
at the present time that the next crop
will be large one also. But IN the
fa,e of all this there is nothing to war
rant the present low prices OF cotton.
The world need every pound OF cotton
now in sight and all that is prospective
ly in sight. The trouble is not over
production, but in the stagnant condl-
ton of the worlds trade. The Portugal,
italian and other financial troubles, the
Argentine bank collapse, and every
thing has combined to shake confidence
and prevent speculation. Cotton has
declined steadily, because there has
been nothing to sustain it, and now 1t
has reached a point entirely unwar-
ranted by the surrounding conditions.
ssThe present outlook is not bright, L
admit, but we may have repetition
of the fall of 1879. During that year
the city of Glasgow bauk failure had
aemoralized finances quite badly. Cot
ton and everything else declined. There
was good wheat crop, however, and
stimulated by it business became brisk
in all lines, and in month or SIX
weeks cotton advanced IS or $40 q
bale.
"Now, this year we have very slInl-
lar conditions. Cotton is cheaper than
it has been since 1853, but we are
making the largest wheat crop We have
ever made, and the food supply OF
Europe is failure. Europe will neeo
from US this year 200, 100000 bushels OF
wheat, which at the increased prices,
means $3.50, 100000 more for this crop
than we received last year. It'll true
that this sum is scattered over the
country, but even then it means gooo
deal. and must turn the flood OF golo
from Europe to America. General ousl-
ness must be benefited and simulated,
and that may cause cotton to advance
to its normal and rightful position.
"But there is still another view ofthe
situation not generally taken or appre-
c:ated. Present low prices have at
tracted attention to cotton, and the
result is that low grades, which ordina-
rily would be Stunned and avoided,
are being sought after. In New York
and Liverpool cotton is moving, but 1t
is low grade cotton. This IS accounted
for bv the fact that at certain prices
cotton may be put to various Uses ana
substituted for other materials. Ordl-
narily even the present grades are too
high priced for such purposes, but after
a certain point has been passed their
use becomes practicable and they are
much sought after. This, of course,
extends or increases consumption, and
under this consumption the visible
supply of cotton rapidly falls away.
There is great deal of such cotton on
hand now, for it averages from ) to
per cent of the crop, say on crop OF
100000 there will be at the lowest
figure 1000 bales, and it must he
remembered in stock statement each
bad or undesirable bale counts just as
much as the best bale IL the lot. It is
bales, not grades, that make up the
totals.
"Now, as said before, while the out
look is not bright and glorious, it is moi
devoid of hopeful features and I have
named over some of them to you.
"But whether prices advance OF not,
continued Mr.. Runge, II think the
outlook for Texas is far from being a:
gloomy as some think. In the frs
place, moderately low prices for cottor
all through the winter will give thu
farmers an object lesson that will teacf
them more than all the lectures ant
advice they have received for years. l
is folly to preach diversity of crops to
man who can raise cotton on cheal
land and sell it for cents. He think
that is good enough without anythin!
more. If low prices continue, though
the farmers will change their mind;
The farmers in North Texas will le
cotton alone and plant more wheat
those in Middle and South Texas vii
plant more oats and corn. They vii
not care to raise cotton when they cal
scarcely get the price of their labor ou
of it. The farmers have needed jus
such lesson as they they are receiving
and it will do them good"
do you think they can stand tn
loss on their chief crop this Year," wa
asked.
81 don't know how individuals ma
stand it, but as whole l regard th
Texas farmers as being in better cond
ton than those Of any other State i
the Union. Congressman Longs stat
ment that in his district alone thel
are SIC, 100000 worth Of mortgages sin
ply appears bad; as d matter of fact
is not so. Look at the matter from q
= 60