The Magnolia gazette. [volume] (Magnolia, Miss.) 1872-current, 1891-12-12
THE COTTON OUTLOOK.


Under the new conditions OF
finance, commerce AMI industry,
the successful farmer fnds It nec-
essary TO adopt business methods
aud conduct his affairs according
to business principles.
Last year our farmers held back
their enormous cotton crop, but
prices steadily declined. This year
they have gone to the other ex-
trene, aud the rapid marketing OF
their staple has forced prices down
below tue cost of production.
There is a time when 1t is to the
producers interest to hold his cot
ton, and close observers OF the
situation are satisfied that now Is
lie time TO resort to that policy.
Too many Of our farmers and
merchants are nisled by the pre-
dic;Ions as to cotton tel glaphel
n.m New Yo.k. These reports
appear in the news columns of the
l,less, and it is taken for granted
that they are reliable. The fact is,
they are frequently the work OF
speculatOrs who send them out to
aid their speculative schemes. just
at present the spectators are try
ing to mike il appear that this
Neal's crop is exec ntionally large,
bu ii is the opinion OF southern
experts that the crop is very far
thoit If last years output. I'm.
fortunately, how ever, the rapid
marketing of the crop has played
into III. hands Of the Spectators,
and has caused their estimates tn
be generally accepted. The only
thiag that will help producers now
is to hold cotton back. If it must
be sJld in order 10 pay off indebt-
tduess, it is all right, and this we
advise every farmer to do, but
every one who is independent
emo lgh to afford it. should hold his
cotton until the era of low prices
is over.
1t has been suggested that if the
SOU bern ,rmers would bny TO-.
0O0,0O0 bal for future delivery,
AMI plant no cotton next year,
they would be IN s'ers Of the stu
ati Ii. Cotton would rise to war
time prices. and the south would
lake hundreds Of millions clear
pr fit--m re tnan pro tuctlon vii
y,rld ia fil'te N or twenty years.
We have never favored sp'cula-
tiou III failures, hut it is plain thar
t lis suggestion, somewhat mo,li-
list, /, full Of tempting possihili-
ties. Sup ose our farmers,
through the alli lncr, should pnr-
chase 5, 100000 bales for delivery
next summer, and plant Onlv
IN ugh seed to make crop OF
100000 or 5,OOO,UOO balcsi Al
som as lhr facts Were knosn the
bears would lie stamp ded and cot
ton w6uld advance to prices that
wOald yiel producers u handsome
profit.
The southern planters have
reached point where Felf-preser'
walton is the supreme question
They cannot go ON selling cotton
al ] or . cents below the cost o.
l,ro luction. Their lack Of pros
perity Affects every industry, ever,
line Of business and every class in
the SOUTH.
With united action It is posi-
Ill. to materially improve the stu
alton. IL is not practicable Il
plant no cotton, hut it is practlca
ble to re,lu { production TO The ex
TIM Of % per cent, and If TINS Il
done uext year the south will READ
ize a splendid price for her grea
slap'e aid III, whole southerl
count v would prosper as II la
not for years.
It. is tim for our farmers to TAX
strictly business view OF the cot
ton industry. Let them begil
their work OF ssli-proteciion b.
holding back their cotton, ,proyi.ie,
always. that their debts are paid
Then lr. them get together in tileil
alliance meetings and PLAZA ther
line Of action next Acas. In th
nea time, they will do well I
Warn the,r neighbors against til
cotton pred.c ip Is sent out irnn
NeN York in the interest Of ia
spectators whoenn'roi the markel
Atlanta Cons tuition.