The times. [volume] (Richmond, Va.) 1890-1903, 1892-02-18

A bill has been introduced in the United
States Senate by Mr.. George, of Mississippi,
which provides for the appointment Of a
special committee, whose duty it shall be to
visit the cotton-growing States, there to inves-
tigate the causes which have led TO the de-
preston in the prices of cotton and to inquire
as to the proper remedies TO be instituted for
their removal.
As Mr.. George is a representative of one Of
the most important of the cotton States. he
is of course familiar with the principal in
fuences which have brought about the pres
ent condition Of the cotton market. a knowl-
edge which extends t. all who have given any
attention TO the subject. lie is doubtless
equally well informed as TO what would be
the most effective remedy for this unfortunate
state Of affairs. In this also it will be found
that his information is shared by the larger
proportion Of thinking people.
1t is very generally known that the primary
cause of the prevailing depression in the
prices of cotton is simply overproduction.
which has resulted in the supply Of the staple
being in excess of the demand. The princi
pal remedy is equally clear-that is, TO curtal
the area under cultivation. Why a Senate
committee should be appointed to 60 to the
far South. there to travel from point 10 point
in the cotton belt summoning and examining
witnesses at a great expense of money and
time. il is quite difficult to say. All the testi-
monv which would be amassed would be
simply TO confirm the correctness of the view
of the industrial situation in the cotton
States which is already entertained.
But little. if any. new light would be i'm
parted by the work of the committee 10 the
planters themselves which would induce
them 10 follow the line of conduct which
would insure favorable change in their con-
dition. Probably no persons comprehend
more intelligently the causes of the low price
of cotton at the present time than themselves
OF who understand more fully the only true
remedy for the existing depression. 1t is not
a lack Of q inst conception Of the circum-
stances in which they are now placed. or
ignorance of the best means of modifying
these circumstances. which constitute the
obstacle in the way Of that Improvement in
their condition which is so desirable. II is
simply an inability to act in concert.
AS long as a cotton planter has a balance in
bank or credit with his factors he will con-
tinue TO cultivate cotton on as large a scale as
he can. even for one or two years after it
sinks below the margin Of profit in producing
it. The area Of cultivation becomes narrowed
only as planters are prevented by lack Of
money or failure of credit to carry on their
operations as before. This is an economic
law which continues to operate until finally
the amount of cotton is materially reduced
and the price in consequence advanced.
The investigations of congressional commit
tees can accomplish nothing more than TO
bring out into clearer light this general prin-
ciple, and it is doubtful whether the facts
which such a committee would accumulate
are worth the expense incurred in obtaining
them. The question is one which lies entirely
out of the sphere of legislation. and the less
1t is meddled with the more apt il is to settle
itself soon and satisfactorily.
Senator Georges bill was probably intro
duced for the mere purpose of showing his
constituents that he was keeping a careful eve
upon the condition of their most important
interest.