The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-02-10
REMEDY FORLOW PRICES
A REDUCTION IN TIE COTTON
CROP a NECESSITY.

The Causes Which Have Led TO the
Existing State OF Affairs-Some Com
PARSONS In Production and Pricee.
What Savannah Factors Say About
the Situation.
There are some significant facts In VIII
the leading cotton factors Of Savannah say
on the subject of the existing low prices Of
cotton.
These figures speak for themselves" said
one factor yesterday, pointing TO the st te>
ment OF the Financial Chronicle Of Feb.
6, upon the total visible supply Of cotton on
that date for the last three years.
sit puts the thing in a nutshell" he said
Here it is. OnFeb. ), 1890. the worlds total
visible supply of cotton was 3,11O.297 bales
and the price Of niddlinG up
in New York II 3-l6 cents. Feb.
5, 1891, the total visible supply was 8, SOS, 100
bales and the price IN Liverpool was 8
pence and in New York 81 cents In
1892 the total visible supply is
1923, 66l bales and the price Of middling up
lands in Liverpool is l5-l6d, in New York
5-l6c. 1t is very plain. Total visible
supply in 1890, 8, 900 900 bales, price II 3>l6c,
total visible supply in 1891, 3,50l, 900 bales,
an increase of 100000 bales. price 91lc,
total visible supply in 1892. 4. 600, 900 bales,
an increase of ! 10000 bales over 1891
and 800 600 overls90, price 5-16c III New
York.
THE CROP AND THE PRICE.
IAN increase of 800 900 bales last year and
a decrease Of cents in price, another in
crease of 100000 bales this year and
another decrease of 2 cents in the price. An
increase of 800 ,0O0 in the supply and a
decrease of cents in the price in two years
Following the conclusion, If there is a
similar increase in the crop next year cot
ton will sell at cents in New York. 1t
will not need an incraase of the crop to do
that even. II the crop is as large this year,
and another years surplus is added to
this years surplus, cotton will sell
at cents anyway. We have raised
more cotton than the world can consume.
There is another thing. The continent
raised a small food crop last year and all
their money is going for grain. Conse-
guently the people Of Europe are buying
less cotton goods and the market is dull
See what the Chronicle says about the Man
chester market.
Our report by cable tonight from Man
chester states that the market is fat for yarns
and quiet for sbirtings The demand for both
nome trade and foreign markets is poor"
A COMPARISON OF PRICES.
"a comparison Of prices with last year is
given. Feb. 5, 1891, 81 pound shirting was
quoted at shillings pence to shillings
pence by the piece. On Feb. 5, 1892, the
same goods are quoted at 5 sbillings pence
to shillings 10 pence, a difference of nearly
l shilling per piece
"What should the farmers plant next
yeart" the question was asked.
PLANT anything" was the reply. "Bet.
ter plant nothing at all than to raise cotton
at cents and sell it for 81
The idea that the crop must be cut
down is generally prevalent. This is
likely to be accomplished in an
passed at farmers conventions and alliance
meetings. On account of the low prices
and the bad condition of the farmers gen
orally, the fertilizer men are cutting down
their sales from rs to 80 per cent under last
years sales. The merchant who purchased
100 tons last year on credit will do we'll to
get 80 or 60 tons on the same conditions
this year. The merchants, too, are cutting
down their credit accounts in the same
ratio.
The colored farmer has gone to the wall
with vengeance. On account Of the good
crops and fair prices Of the previous years,
every negro who could buy an old mule on
time and get somebody to run him went
to raising cotton on his own
nook ana the white farmers were not able
20 get labor. The majority of them have
failed to pay their bills, and the
merchants and land owners have
been the sufferers. This wear
the negro farmer will find it hard to get
either land or credit. These things should
make some reduction of the crop. The
probability is, though, that this year'sscrop
will be large enough, together with the sur
plus from last years crop, to keep the price
down.
Careful INQUIRY shows that Dr.. Bulls Cough