The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1894-12-12
The Proposed Cotton Trust.

We are glad to see that the South
ern cotton growers have at last realiz-
ed that they cannot raise cotton at the
present prices, and are casting about
for some way to remedy the trouble.
At the same time, We regret that they
have chosen the plan adopted and
known as the "Roddey PLAN Of form
ing a cotton trust.
In my opinion, the idea is crude
one, adopted without proper thought,
and will result in failure. The idea
was no doubt based upon the success
of the sugar, coal, oil and other trusts,
which are composed Of few individ-
uals and corporations, and for that
reason act together as unit; not only
in Withholding their products from
the market, but in limiting their pro.
duction so as to meet the demands Of
trade and nothing more. The central
idea in the Roddey plan is to withhold
a certain per centum Of the product
from market and expect rise in the
price, even if the surplus exists and is
withheld from market.
We feel assured in our own mind
that this will not give the desired
relief. The setting aside Of the enor-
nous amount of one million eight
hundred thousand bales of cotton,
which would be one-ffth Of the esti-
mated crop of the present year, with
probably as muck more next year, will
result in an accumulation of cotton
that would constitute a powerful lever
in the hands of the bears to keep
down the price Of cotton. The knowl-
edge that this amount Of cotton is in
existence, would be sufficient reason
to the spinners, as well as the specu-
lators for low prices. Another fault
to be found with this remedy, is that
no provision is made to ward off the
decline in price that would result
when this large amount Of cotton is
put on the market, unless there is
deficiency Of production equal to the
amount of the reserve to be sold.
Unless the plan contemplates some
effectual means to limit the produc-
tion below the demands Of the world
by as much as the one-ffth of the
crop to be reserved, the whole thing
must result disastrously. We do not
believe that any such limitation Of
production can be secured by concert
ed action, by means Of trust as pro:
posed, because of the impossibility Of
securing united and prompt action by
our farmers, isolated as they are and
unaccustomed to act together as a
body.
Most farmers, am afraid, would
plant greater acreage by one-Gfth,
so as to have this surplus to place in
the trust. Some who would not go
into the trust would plant larger
acreage, hoping to profit by any rise
in prices that might result from the
operation Of the plan. Radical chan
ges in the system of agriculture pur-
sued by a people are always of slow
growth and are the result of gradually
growing convictions that change is
imperatively demanded. This change
in our system of farming must come
in fact is now gradually taking place.
The more progressive and intelligent
of our farmers have already realized
that our only salvation lies in diver
si6ed agriculture that does not depend
for success upon any one crop as q
money crop. The setting aside of
one-ffth Of the products Of. their labor
| in the production Of the cotton crop,
amounting in value TO S57 1000, 900,
pre-supposes state Of prosperity
| among our farmers which we do not
believe exists.
Why not diversity your crops ?
Why not raise something Of which
there is not surplus ? The people
| of the United States consumed last
year 25O, 100000 bushels Of Irish po-
tatoes imported from abroad, costing
$3.50, 100000; half as much and more
than our entire cotton crop will bring.
No surplus and low prices in this, and
| the same can be said of many other
products that are adapted to our soil
| and climate. Let every farmer think
for himself and not depend upon a
trust to think and act for him. Let
| him read and inform himself, and he
will need no trust with principal
| Office in New York or elsewhere, with
salaried officers, insurance on his cot
ton and other expenses, with the chan
| ces that the trust will degenerate into
scheme for the enrichment Of a few
speculators and loss to the stockhold-
ers.
There is no quick route to better
prices Of cotton by this plan. You
cannot counteract the effect Of surplus
cotton on prices by shutting it up in a
warehouse. The whole world knows
that it is Gin there" and they will
allow you to dictate prices.
The world is two strong for the cot
ton planters to be able to compel it to
pay high prices for crop of which
there is surplus.-Ro,olan9 Black,
IN YorkuiHe Enquirer.