The Forrest City times., 1894-11-30
EXIT KING COTTON.
Overproduction the Cause of Low
 Prices for the Staple.
hislcading and Bullish Estimates of the Crop-Planters Urged to Reduce the Output and Turn Their Atten-
 ton to Cereals.

MONTGOMERY, Ala, Nov. o6.-As a re- suit of the action of the Cotton-Growers' convention, which recently met in this city, the following letter was sent out:
 To THE COTTON GROWERS OF THE SOUTH In conformity with . resolution passed by the recent Cotton Growers convention. convened in the city Of Montgomery on the 18th of No- vember. address you the following letter:
 The convention was called by myself for the purpose of considering and devising means through which southern cotton growers might protect themselves from the many and unfair devices used to depress the values of our chief staple, the present most prominent one being hctitious reports fabricated in the main cotton narts sent out by cotton exchanges. and ema- hating in the minds of men who make a pre- earious living as bears on the cotton market.
 A lack of space will prevent my elaborating upon these points, and I will make it suffice simply to quote the resolution upon this sub- 1ect passed by the recent convention:
 Be it resolved by this (the Southern Cotton 6rowers) association, that it is the earnest conviction of the members of the convention as practical cotton growers, that the estimates that are being sent out by the cotton ex- changes in reference to the crop are excess siye, and 1t is the belief of this covention based upon practical observation and the best statistical information, that the present crop will not exceed $500, ,000."
 AN UNDERESTIMATE.
 MT Neill, of New Orleans, is one of the gen. try who is contributing his time and talent to- wards the depression of cotton values and to the detriment of the entire south. He figures she crop for the present season at 10 250. 900 paies That his predicates are fictitious and his figures excessive no reasonable man doubts
 The large crop of 1891 -92. which with the amount left over from 1S90-9l reached g, 9,040,- oVo bales, was produced on an acreage 800, GOO acres larger than that planted in 1s94-taking the Financial Chronicles estimate in both instances. In 1891 the production was 203 pounds per acre, whereas the official condition indicated crop of only 1855 pounds; the in- crease therefore, was just 10 per cent Here it should be noted, at no time since 1889 has the bureaus estimate varied so greatly from the actual production. On a similar basis the con- dition as reported by the bureau in 1894 indi- eates crop of 193 pounds to the acre; add 10 per cent to this and the product will have been PIP pounds, or .45 of bale, and with an acreage of 20l07,000 acres we have a crop of a fraction over 5000 900 bales
 The rule of indicated production applied to each state separately, to which is added the in- crease in acreage and the per cent, condition increase as before, the total crop aggregates slO0,0O0 bales, and this sum Is reached by ac- crediting Texas with a crop of 2,9o0 900 bales this year.
 It is hardly possible that the departments condition indication will be as much under the actual outturn as in 1891, since large part of the crop of that year was, really produced in 1ss0. In fact, the average of the conditions of the bureau for five years indicates exactly the actual average production per acre for the five years. Again, the crop marketed in 1891 showed excessive production per acre, but Mir Nell would have the world believe that the 20,l07O0O acres in cotton in 1894 have produced W,2ooooo bales; or over one bale to every two acres"
 Consequent upon the enormous crop pro- duced in the season of 1s9l-92 cotton conven- t1on was held in Memphis under the auspices of the Mississippi Valley Cotton Growers as- sociation, and it's result, as was the result of the recent convention at Montgomery, was eminenty satisfactory to all engaged in it. The express purpose of this meeting was to take action toward the reduction of the cotton acreage How we'll it succeeded in this effort history of cotton will bear us out A decrease in acreage followed the ensuing seasons-92 and '93-of 3,456, ,439, an acreage that is larger than Is planted in any one state with the ex- eeption of Texas.
 Pursuant to the Memphis cotton convention cotton advanced F points in three days Pur- suant to the Montgomery meeting, cotton values advanced P points. Whether these two occurrences were coincidental or whether they were caused directly or indirectly by these farmers in convention assembled, it is for the country to lJadge, but to my mind it is a practical demon stastr;on of a fact that the vibrations of the cotton market are as sensitive and responsive to the touch of q convention of practical farm ars as they are to manipulations of metropoi- eRn fakirs..
 The dominating questions confronting the fRrmQTS are. first. to refute the niquitous re- ports being sent out by unscrupulous persons ana bearing down present prices, and. second ly, to cooperate in an endeavor to again de- crease the average by planting the same in ana producing more "non-coaSuDlption'' crops
 ADVICE TO PLANTERS
 Overproduetion encourages and fosters manipulation, and it should be the effort to every intelligent and patriotic citizen of the south to enlist all the instrumentalities avail able to resist this current that is insidious- IF day By day drifting us into this noureS of poverty and destitution, and I re- ssttffusiy solicit the power of the press and the kind cooperation of all those interested in ah.e material welfare of the south for their as- sisnanee in the accomplishment of this con summation so deyoutly to be wished"
 That the present low prices of cotton are abnormal is plain to all thinking men, and cer- sainly so il the well-accepted rule of political economists applies: That the cost of the prodhc ion of art icle is fair standard of it's value
 There is less visible supply on hand than for years. Mills have less on hand, people have less clothes on account of the enforced economy of hard times
 The total visible supply of cotton in the world is 22e 2O5 bale. less than in ls93 and 605- Al less than in 1892.
 The currency and tarif questions are virtu- ally settled, and all the indications at present point to a speedy return of general prosperity, and cotton prices must naturally rule higher.
 We are Of the opinion that, after all, this matter can only be accomplished by independ- ent individual action stimulated by intelligent argument, and I shall undertake to prove that to great extent that it is the overproduction