New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-11-10
THE LOW PRICE OF COTTON.
SOME OF THE CAUSES CONTRIBUTING
TO 1T.
DESPAIR OF THE PLANTERs-TiE PRESENT CROP
BEING MARKETED AT ABsCRDLf


BEING MARKETED AT ABsURDLY
LOW FIGURES.
Tho nresent low price of cotton means disaster.
bankruptcy and for the South Al the prices
Mt which cotton is selling, cotton culture not
only ceases to be remunerative. but except ufne'
,,,st extraordinary and exceptionally faVorabie
conditions the cotton planter cannot possibly set
hack the actual cost of his crop Inc commune.
low price which is recorded every Gay III the io "
market is causing serious consideration OH 'i''
part of those business interested in the Sou'h'
and there is a gloomy feeling pervadinS the "i''e
market which IL is hard dispel In the rlch DOL
tom lands in the South cotton can DE raised d.
proft at 3 cents pound; but upland co''o' '
upland cotton goes into the majority OF 'he 'o'"'
number OF bales Of the Southern cotton crop va"
not possibly be raised at present prices IN VIZ
.,r,a the Carolinas Georgia. Alabama. Mississippi
Florida or Louisiana except at an actual 1883
Texas has peculiar advantages for raising co''o"
cheaply and most of the crop IN tha' o'd'e van
probably be sold at light proht AT inc preSc"
frightfully low prices.
There are few men in the cotton business VINO
rave seen il as low as il is to-day, for In inns
country IT has not touched such prices since 1919
when upland cotton sold in New-A ork ior . Gems
- nound The average price in New-io rk last
season was about IA cents while IN the P'e''o
wears II was Si2 cents At the beginning Vi ''''
season middling cotton was worth cents Ill Ne" New
York and it was expected that the crop wouio
bring that price In the market Inc crop mas Nv"
estimated at over 100000 bales. Ever! 'e"'
pound reduction in the crop OF that size iie"'
curtaiment of the resources Of the South TO 'he
extent of s45Oo0OO. The better to Illustrate 'he
drearness of the situation at present as resa'usu
nv the growers 1t is only necessary TO reler 10 '
unprecedentedly large movement OF COTTON 10 '''
market for the last month Never before mas 50
great amount OF the prouuV' 'ee" 'e
sight in single month.
offs
.on cannot he magnifed In the greater part OF the
cotton belt the yield has been one-quarter 10 one
third of a bale the acre The average weight VI
q bale is 500 pounds. worth TO the planters at pres
ont prices $50 to 25 The returns from cotton seed
NAV be estimated at 81 making the total gross re-
turns at about g. to 81 acre-a return out OF All
,ronortion TO the cost of production. The plant re-
ouires the tenderest from early spring until
late in the summer, and the picking by manu- re-
ouires endless work In addition to all this 'he
weight Of the cheap bale is just as great as "heh
cotton was worth 10 cents pound. Freight rates
charged so much a hundred are doubiy onerous
The despair of the cotton grower Is complete lie
has not only given up all hope of an immediate al
vance in the selling price of his principal product
but he sees no better prospects for the future.
There has been a gradual and steady decline IN
prices of cotton ever since Cieveland's message OF
1857 announcing free trade as the pohcy Oh 'ie
Democratic party. Democratic southern business
men long ago realized that protection when ios'ereu
the industries the North would build up looms III
the South and that the planters might sen Inv"
cotton directly from the plantation ana buN 'hei
clothing manufactured in their OVID neighoorhoon'
The blind partisanship of Of the southern peo
NE intensified by the illogical harrangues OF pro-
fessonal politicians. whose calling dep5hus ~ ras
csivng their constituents MAJ hat part Of the c6un
try vote for party when hS anrd1eneritv The
MINERS while admitting the absurdty OF their p9s posi-
lion and voting the Democratic nrhT rcos az cot
l..lia a
ron Will allow its use in diversity OF ways thus
; ;or the demand for it and enhancing rs
rjce S,ich however has not been the case. 'ol
ION has declined and continues 10 ueC,is . o3rt had
Zen reached only 10 be disappointed IN seeing
stili further fall in the price .,.,, hoe shoUn that
a mart of the South at least is alive 10 tnT ne
ton but the people appreciate ma astriaI arowth
lime to repair the injury 10 the lhdustI,ar ,i ~
~ the country and that only with restoraoo., 1l
good times TO the entire 1 h sure the sup
nlv of cotton has been greater IMAM tne ,ni 80
put .' has Tpached The oldtime Democrats OF me
South have become much alarmed al M iIr ro,fn
pids Of that region and in some cases thtlr
alarm has been turned TO the a1su ,h Ia "a Henubu
cans in power Accordingly In many OF the co. m
raising districts the product Is 1ens nsnrs and
several well-inforred cotton brokers IN l.IS ~
e ;,io er9 There has been persistent hammerng
of cotton by the bear element ho'h mere anu
The firm of Pasch & CO.. one Of The largest ana
,lfas. cotton houses in Havre. failed Yesterday
on &c q result there was a fall of points in the
~ "nsrlse, here Pasch e. cos business was SO
di,arcNed and 81 large that In estimating the nrin
credjt no real estimate can be made OF the caltai
emnioved but il is supposed TO be very aree
Tbev we've not only enormous dealers In cotton ana
wool but in coffee and all South American faIt
and West Indian products On this SIDE, althoush
IL nrno had eXceilent credit and there was dls-
,osition 70 be extremely conservative in drawing
an or remitting TO them. nevertheless lhefe are d
large number OF their bills held in the Street ror
tba last three or four years they have been looked
unon as having entered the speculative heli 10 4
considerable extent.