The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1892-09-17
THE COTTON QUESTION.
,...-..tinr Article From One Who Has
Made Life study Of 1t. '''.
uoNrREAL, Canada, Sept. 8, 1892.

MONTREAL, Cdutaud, 0ept' ., 1o01.
rn1roR GRENADA SENTINEL:-Ih have
.or heen from home over two. months
~" Ibaye travelled over the largest por
i.nns n the cotton manufacturing dis
.u;cts ..;. of the United States and Canada
Ut and to say the stock Of cotton on hanG
;'' u enormous don't express 1t. It Ii
ni,,eurwhelming. :, In numbers Of places
y .ho mills have sufficient cotton to carry
them @ until next April. In nearly ev'
srv @ instance, with few exceptions
~, oor,ourh cotton to carry them until Jan
ua ,,arv All have bought heavily be-
cause e the price was cheap. Now the
@ nreat question to consider is what will
r. the price for the coming season? II
Z very difficult to predict, but u great
,nanv last year ridiculed our article
whei, % We prophesied middling cotton
would sell as low as 6 cents, but they
realized too late that our prediction
hannened in this instance to be correct.
r the present crop should be eight to
eipht and half million bales, we be-
1--we liz prices will rule from five to five
and half cents per pound. This is al
Iowing decrease Of 100000 bales from
last crop. Now say that some disaster
should happen to the crop, and say
that we only raise :, ,OO0, 900 bales of cot
ton. what is there in the present situa-
ton to warrant higher prices than are
npyailing now. We enter this season
With stock Of about 100000 bales
with trade bad in England and the
continent. The demand for cotton in
England instead of being on the in
crease is on the decrease, and to-day we
are forced to the conclusion that unless
trada reviyes in England we can't ex-
meet better prices than are prevailing
now, Another serious hindrance to
the price of all products is our silver
legislation. The decline in silver and
our American position upon this sub
ect will cause more trouble to the COT
ion industry than anything that is now
prevalent. To show the effect of silver
upon the price Of cotton, whenever sill
YER has been quoted lower in London,
Immediately cotton responded and de-
clined. Another serious feature in the
cotton position is that the Washburn
Anti.Option Bill has heen postponed
until the opening of Congress, the first
Monday in December, and Is to be con-
sidered the frat thing upon the calen-
lar. ask my farming friends who
arc in favor Of this measure what they
mean by wanting to throw upon the
market 300, 900 bales Of cotton that is
held as guarantee for future contracts.
10 show the invisible supply Of cotton,
that is the stocks held at the mills, can
only be estimated and to show how
heavy the stock Of cotton held by the
mills-take Fall River, Mass, for
instance, where the stock Is counted
and known. On August the: 18th they
had l42. .586 bales, 81 ,2O8 bales more
than at this time in 1891 and SS,7O6
bales more than held at this time in
1890. Taking this as the proportion,
the mills have enough cotton on the
average to run them until the 18th Of
January, 1898. Now If supply and de-
mand are going to control the price Of
cotton as in former years, what Is there
in the present situation to advance
prices?
Jos. NEWBURGER.