New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-11-20
NO PROFIT IN COTTON.
THE FIVE-CENT RATE MEANS BANK
RUPTCY To THE SOUTH.
low PRICES FOR THE STAPLE CAUSED THE
BREAK IN THE SOLID soUTH-No COR
RESPONDING REDUCTION IN
THE PRICE OF

BREAK IN THE SOLID SOU h-.>o cci-
RESPONDING REDUCTION IN
TIE PRICE OF
GOODS
The extremely low prices OF cotton and OF wheat
are causing conservation all over the country II
is understood on every hand that disaster
bankruptcy ana ruin will fall upon great NUMBERS
OF cotton planters in the Southern states unless
there is an early and important advance IN the
price of cotton The Tribune has shown repeatedly
by interviews with thoroughly competent COTTON
experts that the planters in North Carolina Sou'h
Carolina. Georgia. Florida. Alabama. MISSISSIPPI
and Tennessee and in parts of Texas. Louisiana
and Arkansas must lose money on the scent COT
ton The great bulk OF the cotton crop in the SOUTH
ern States Is upland cotton. and upland cotton
cannot be raised AZ profit for cents pouHu'
The planter Will suffer actual loss at cents a
pound for upland cotton. In the rich bottom ah"s
along the Mississippi and certain other rivers cot
ton can be raised az small profit at cents q
pound; and in extensive areas in the state OF
Texas the conCitiors Of climate ard sol! are SO
favorable that the planter can sell his cotton al
cents a pound and still make a little I'roht but
the outlook for an Immense host OF planters IN
North Carolina. South Carolina. Georgia Alabama
and the OTHER states already mentioned is OF the
goomest and most discouraging character.
In spite Of the fact that cents a pound for up
land cotton has been the prevailing price in the
South during this autumn, and in spite or the UNI
versal knowledge and conviction that ocent cotton
means widespread bankruptcy and calamity 10 the
Southern states the price OF cotton shows no Ten
dency rise In fact, the market IN I'NerPoo
which decides the price OF cotton for Inc Wo'"
seems to be tending toward even lower prices
The Southern cotton planters. already extremely
anxious worried and distressed over the deploraoiy
low price OF cotton will certainly be In despair II
there Is a further fall in quotations
The Southern newspapers. and newspapers all
OVER the country. have given much attention 10
the grevousy low prices OF wheat ana OF cot'o"
ard the consequent injury and damage to the pro-
ducers of the country The consumers do not. as
ruIe get any great advantages from these eXces-
sively unreasonable and ntolerably low prices lot
wheat and cotton. The bakers OF the country
have not made large reductions in the price OF
bread to correspond with the tremendous iaii IN
the price Of wheat Cotton goods in the markets or
the world have not dropped figures entirely cor
responding to the appalling descent In the neures
at which upland cotton is quoted Any possible
benefit the consumers of the United states from
the low prices OF wheat and cotton is much more
than offset by the prodisious injury. harm and
mischief caused TO the wheat-growers and the cot
ton-panters The most careful observers and the
most accomplished experts in all such matters
agree in this opinion.
1.-The New-York Word" in a recent issue printed
the following editorial article THE Future Of
Cotton
There is no doubt at all that the continuance OF
the prescn, price OF cotton would bankrupt the Gulf
% he cnuntrv They are entirely right. however.
who say that 1t is impossible for such prices 10
Cotton is below the cost Of production, and there
Is hope Of reducing cost-at least not IN the im-
cost Of producing wheat has been greatly
lowered by improved ou nd cotop least
OF all. The actual handle cost or cotton sreaus
exceeds that of any other crop raised on large
plain thsTefCre that the tn 5tsJ esct of
In the acreage. Hill lands. especially where ,hey
s sse at This ri Wit W be s hard on who
can get ready money Of nothing else so easily
SsneS S't to the cotton States and to the country:
When the cotton states raise their own mea' ANU
material they will occupy respectable position on IN
the word OF Of Enrs M and
'.The Mail and Express last week published al.
editorial article entitled "Five-Cent Cotton from
which the following extracts are taken
The Editor of The Martin County O. c. sun:
overlook the Democracy Of North Carolina at the
t fsSenI strife sTfeo and ITO to ave-cent cotton
e soa s03 this
fve-cent cotton felt in every Congressional
she hSe only
the House from the entire sixteen Southern States,
twenty years have the Republicans carried
Congressional districts in the southern states as
West Virginia not one Democrat has been en
S,ate' and perhaps should not be included in the
enumeration . 49, ,- =.
Eve-cent cotton made Itself felt from Texas TO
Tennessee The Southern people. who were misled
by the gnis fatuus OF free trade into the belief tnat
with free raw materials could capture the foreign
market have discovered their mistake and they
have $50 discovered that the he me market MAKES
the price Of cotton. We mean by this that unless
we protect home interests. develop home manu-
facti es and build up prosperous industrial pcPu-
jation there will be no market OF consequence Tor
ANYTHING that we produce, cotton included
The fallacy Of the free material theory is
best Illustrated by reference 70 cotton. This Is a
free raw material. " anything comes under that
naculiar nomenclature-freer than wool, because be-
fore wool becomes available for use 1t must pass
through many and expensive processes OF
labor than cotton requires Yet the woollen Industries
of this country have had greater growth with
tariff on wool than the cotton Industries nave mad
with cotton free. Furthermore, in spite OF free
cotton English French and German cotton faD-
ricators have been able TO buy their cotton In this
country pay for its shipment across the ocean pay
the duty on their manufactured goods and undersel
The American manufacturer in every department OF
trade labor constituted the largest
of the cost Of producing cotton goods Inc simple
reason Is that labor is much cheaper ABROAD that
the raw materials do not figure in the calculation