The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-01-27
HISTORY OF COTTON.
The Increase in Production in the
United States.


The Price of Cotton in Different Years.
The Great Crop of 1S91-The Value
of Cotton Exports-other Interesting
Information.
Baltimore, Jan. 25.-The Manufactu-
rers' Record of this week will publish a
brief history of cotton production in this
country, by Mr.. r. H Edmonds, the
editor. Just 100 years ago the total crop
of the south was 10000 bales, but by 1920
this had increased to nearly 400. 900 bales.
Under this rapid gain in production
prices gradually declined from A cents
a pound in 1901 to 1875 cents in 1899.
With prices ranging from ID to "A cents,
and averaging for forty years, from 1900
to 1889, fraction over II cents pound,
cotton cultivation was so profita BILE that
we cannot wonder at the disposition of
the people of the south to concentrate
their efforts more and more on cotton Gull
tiVation to the exclusion of industrial in
terests. Beginning with 1910 there came
a period of extremely low prices and the
cotton states suffered very much from
this decline. In that year the average
New York prices dropped to 8 cents, a de-
cline of 4 cents from the preceding year,
and this was followed by contin-
uous decline until 1916, when the aver
age was 5.69 cents, the lowest aver
age price ever know to the cotton
trade. Even in 1912, when an enor-
nous surplus of cotton following the de-
preston that succeeded the Barring fail
ure forced prices to what many claimed
was the lowest point on record, the aver
age at New York was z. so cents, or nearly
2 cents higher than in 1876 Moreover, in
NIs ~.
1892 the sale of seed added almost
cent pound to the value of the crop and
transportation was very much cheaper
than in 1848 In 1S47 the crop was short
and prices advanced sharply, only TO drop
back to and then to ~ cents, making
the average for the decade, from 1s40 TO
1S49, the lowest ever known in the cotton
trade.
After giving in detail the statistics of
production, consumption and prices for
each year since 1910, the Manufacturers
Record says:
A study of the foregoing figures will
show that seven years of successfully in
creasing crops as from 1886 to l89l-92,
was unprecedented in the history of
trade. II is doubtful if any leading
crop raised can show such an unbroken
increase for seven years Jumping from
100000 bales in 1884-85 to 6, 100000 bales
in 1886, there was practically no halt
ing, as the variations in two years were
too small to be noticeable, to 9,035, 900
bales in 1922, gain of 3,300000 bales,
or nearly 80 per cent advance in seven
years. 1t ought not to have been expected
that consumption could keep pace with
such an increase. Fortunately there came
break, and we have now had two short
crops. This will help to reduce the enor
nous stocks that have overweighted the
market for several years. With surplus
stocks worked off, a fresh start can be
made, and If next years crop is moderate
ly small the cotton trade of the world
will then be on sound basis fo- higher
prices, because consumption then will have
overtaken production.
In eighteen years cotton has brought
into the south over s.. zoo, 600, 900, sum so
vast that the profits out of it ought to have
been enough to greatly enrich that whole
| section. Unfortunately, however, the sys-
tenn which the poverty following the war
developed of raising cotton only and buy
ing provisions and grain in the westleft at
home but little surplus money out Of the
cotton crop. The west and north drained
that section of several hundred million
dollars every year, because It depended
upon them for all of its manufactured
goods, as well as for the bulk of its food
stutfs. Hence, of the enormous amount
reviewed for cotton, very little remained
farming, the raising of home supplies, the
development Of trucking and the building
of factories are ali uniting to keep at
home the money which formerly went
north and west. Whether the cotton
raiser himself be getting the full benefit
Of this or not, the south at large is neces-
sarily doing so.
The figures given in the foregoing
tables show that the lowest average
! WELD Der acre for the SeVenteon wears
under review was 145& pounds in 1881,
and the highest 1905 pounds in 1891 Had
the yield per acre in 1891 been as low as
in 1881 the crop would have been less
than 500, 900 bales, instead of 9,035, 900
| bales.
From 1910 to 1s4e the average price ia
New York was eight cents per apound,
lower average for nine years than any
single year since has shown except 1891 -92.
The Importance of cotton in our foreign
trade relations can be appreciated from
the SIMPLE statement that since 1875 our
| exports of this staple have been valued at
| "a, SOC, 100000, while the total exports of
wheat and -four com blned for the same
period have been e., SOC, 900, 900, showing
difference Of s., 300, 100000, or over 80
| per cent. in favor of cotton. Moreover,
during the same period we have exported
| about $500 900, 900 of manufactured cotton
goods, making the full value really q, 600
100000 Compared with the exports Of
wheat, -four and corn combined, the value
of wheat since 1873 has been 81, 100 .O00.-
900. There is difference in favor of cot
ton of 5000, 900 900. Going back 10 1920, IL
is found that the total value OF -four and
wheat exported for the last seventy-four
years is %, 9l3 900. 600, or 500, 600 900 less
than the value Of the cotton exported dur
ing the last eighteen years.