The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1892-12-01

ldsG udle Oh saturday at III cents, eX-
actly double the price he received for
his first bale. Spinners and specula-
tors now realize the shortness of the
crop, and are in active competition to
secure all they can get; hence, the
bounding advances. Never in the
history OF the cotton trade has there
been such upward permanent jumps
as recorded last week. Speculation
had something to do with this abnor-
NAL condition of things, but in reality
the price now ruling is the outcome of
the old reliable, always on-time law
of supply and demand.
We have been long accustomed
to the cry of demagogues, that the
price of all farm produce and espec-
tally cotton and wheat. are regulated
by capitalists. 1t pays these patriots
to pose as protectors of the people in
order that they may get into posi-
ton to do the most good-to them
selves. Now speculation does affect
the market, but the more there is of it
the better for those holding stock; so
that the producer has no reason to
complain. 1t is optional with him
whether he sells or holds. If he sells
when prices are low he has no right to
complain that the man he sold to
makes profit on his speculation.
The Spectator has no power to keep
prices down when the supply is less
than the public requirements. Prices
may fluctuate slightly from time to
time in response to the action of spec
ulators, but are ultimately fixed by
supply and demand. Last year we
had 100000 cotton crop and there
fore about 100000 bales more than
the worlds demand; this year the crop
promises to be little, ifany, over {, 000,.
700 bales, or much less than will sup
ply the public wants till another crop
is made. In the one case We saw cot
ton reduced to cents and little de-
mand; now buyers are tearing them.
selves to pieces to get it at 10 cents.
This will be an eventful year with
spectators in cotton. The bulls will
amass fortunes at the expense of the
dismal bears.
One serious trouble likely to arise
out of this change in the cotton mar
ket, is that farmers may be induced
to increase their acreage next year
with a view to getting big prices.
Wise men will guard themselves
against the temptation. 1t should
never be forgotten that the EXCHANGED
price is largely due to decreased
acreage and that any increase, added
to a favorable season, would probably
land us where we started-at cents
per pound. We have the clearest evil
dence that supply regulates price, and
that farmers have it in their power to
regulate the supply by reducing it.
1t Will certainly pay farmer better
to raise ten bales at 10 cents than
twenty bales at cents. The smaller
number can be grown on less than half
the amount of land, as more
cultivation can De given; the rent of
land is saved and all the expense of
blowing ehDpping much of the culti-
walton and all the picking and GIN
ming, besides the gain of a valuable
crop of some other kind on the re-
claimed land.
If farmers would think this problem
out and act with each other as con-
slstently as they do in supporting
some candidate for public office, they
would find the experience more profit
able to themselves and the country at
large.
RAIN MAKING.
The rain-making takers are out on
another jamboree. To those not alive
to the tact that the United States
treasury is almost if not quite bank
rupt, it might be supposed that this
crowd of aerial bombarders had been
organized to dissipate bloated sur
plus.
They made such a successful failure
last year as should have satisfied the
most exacting. But here they are
again. They did not have fair show.
ing last time. Their experiments were
conducted in dry section during the
driest season of the year, therefore it
was not surprising they failed to pro-
duce rain. Taking the benefit of his
past experience, General Dyrenforth
has chosen moister section of the
country and more probable season
for rain-making. A better choice of
time could not have been made. The
time originally fixed for the commence.
ment OF the show was postponed from
day to day till the atmospheric condi-
tions were favorable. That time ar
rived on Friday morning when the
sky was overspread with heavy clouds
which ever and anon" shed their
moisture in the form of showers. This
was the time particularly waited for,
and the circus performance began.
There was balloon ascension without
the parachute attachment, and
then fireworks exhibition
worthy of 1.-The greatest show
on earth" The result was surprising
to expectant sight-seers, and hugely
disgusting to ring master Dryhence
forth. The weeping clouds dried up
their tears and dispersed, leaving a
serene, unbroken field of blue over
head. The fireworks exhibition was
kept up till midnight without pro-
ducing any other atmospheric result. |
AS rain has fallen in various sections
of the state for the past ten days, it
looks as if the so-called rainmakers
were rain preventers. The expert
ments will likely be kept up till the
appropriation is exhausted, and per-
haps the fugitive rain may return and
shed tear over the. scientific show
men, in which case the showmen will
surely claim that the rain is the result
OF their operations.
LATIN FOR COWS.
do / need to talk Latin to the
cow" said o young farmer how when