The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1894-01-26

NtS'rA'ea A'ssoay " sses"A pASAuStuh IA
ithia country, by Mr.. R II. Edmonds,
tho editor. Just 100 years ago tho
total crop OF the south was but 10000
bales, but by 1920 this had increased to
nearly 100000 bales. Under this rapid
gain In production prices gradually de-
Hclined from forty-four conts pound In
1901 to thirteen and one.half cents in
1850.
With prices ranging from thirteen to
iorty.iour cents, and averaging for forty
Years. from 1900 1850, a fraction over
geyenteen cents pound, cotton cultiva.
lion was 80 profitable that we cannot
y Wonder at tho disposition OF tho people
/ of the south, to concentrate their efforts
more and moro on cotton cultivation 10
Tic exclusion OF industrial interests.
Beginning with 1910 there came peri
cd oil extremely low prices and the cot
4 ton states suffered very much from this
decline. In that year the average Now
5iYork prices dropped to nine cents, a
decline of four cents from the pro-
IculIS your, uIlu tIlb Wuo loiloWeu Wy
+ d continuous decline until 1915, when
the average was 5.63 cents. the lowest
average price ever known to the cotton
trade. Even in 1S9l'02, when an enor-
nous surplus OF cotton following the
Repression that succeeded the Barring
Failure forced prices to what many
claimed was the lowest point on record,
the average at New York was 7.50 cents,
or nearly two cents higher than In 1916.
Moreover, in 1915 the seed was without
siyalue, while in 1S0l-'92 the sale OF seed
4added almost cent pound ito the
value Of the crop, aud transportation
was very much cheaper than, in 1916.
in lS47 the crop was abort and prices
'7adyanced sharply, only to drop back to
eight and then to seven and one.fourth
cents, making the average for the de-
cade, from 1910 to 1910, the lowest ever
Known In the cotton trade.
After giving in detail tho statistics Of
ptoduction, consumption and prices for
Zach year since 1910, the Manufactured
Igcord says:
a study OF tho foregoing figures will.
glpw that seven years OF successfully
"a creasing crops, as from 1856 to
7SNl-92, was unprecedented in the his
Tory OF the trade. It Is doubtful II any
laeding crop raised can show such an
nnbroken increase for seven years.
Humping from 100000 bales in 1854
TO 6,500. 600 bales in 19S5-S6, there
vas practically no hating, as the vari-
ntions in two years were too small to DO
Noticeable, to 9,OS5 900 bales in 1S9l-95,
u gain OF 100000 bales, or nearly 60
Sper cent. advance in seven years. II
2 Bought not to have been expected that
Il consumption could keep pace with such
an increase. Fortunately there came n
break, and we have now had two short
crops. This will help to reduce the
enormous stocks that have overweighted
the market for several years. With
surplus stocks worked of fresh start
can be made. and If next years crop is
moderately small the cotton trade OF
the world will then be on sound basis
for higher prices, because consumption
will then have overtaken production.
In eighteen years cotton has brought
into the south over $500, 100000, a
sum SO vast that the profits out OF it
ought to have been enough to greatly
enrich that whole section. Unfortun.
ately, however, the system which the
poverty following the war developed, OF
raising cotton only and buying pro-
visions and grain in tho west, left at
\ home but little surplus money out Of
the cotton crop. The west and north
+ drained that section OF several hundred
q million dollars every year, because it
1anopJ oJ ppop fhan for all ~, ~, 80
z featured goods, as we'll as for the bulk Of
its foodstuGs. Hence, of the enormous
amount received for cotton, very little
remained in the south. The increase
/ in diversified farming, the raising Of
home supplies, the development OF
trucking and the building OF factories
are all uniting to keep ut home tho
money which formerly went north and
west. Whether tho cotton-raiser him
self be getting the full benefit OF this or
E not, tho south at large is necessarily do
ing So.
The! figures given in tho foregoing
(; tables show that tho lowest average
yield per acre for the seventeen years
3 under review was 145s pounds in 1881,
: and the highest 209s pounds in 1891.
Had the yield per acre in 1891 been as
= low Us In 1851 the crop would have been
loss than 100000 bales, instead Of
!. 9.035, 900 balos. il
From 1910 to 1910 the average price
{ in New York was eightcents per pound,
a.lower average for nine years than any
Z single year since has shown except
z 1922. 4
~ The Importance OF cotton in our for
elgn trado relations can be appreciated
from the simple statement that since
1875 our exports OF this staple have
been valued at s., sol, 900, 900, while the
& total exports Of wheat and flour COM
: binod for the same period have been
Il $500, 100000, showing a difference OF
1880, 100000, or over fifty per cent, in
Z favor OF cotton. Moreover, during tho
same period wc have exported about
Y SS200.000,000 OF manufactured cotton
goods. making tho full value really ST.
000, 000,0 600. Compared with the exports
,ofwheat flour and corn com bined, the
value Of which aimee 1875 has beon S.
zoe, 900, COO. there is a difference in favor
Of cotton OF 5000, 100000. Going back to
d 1920 1t lis found that the total value OF
Z -four and wheat exported for, tho last
n seven.y-four years Is S3.9l3, 900 900; or
Il $l00 900, 900 less than the value Of the
cotton exported during tho last eighteen
years. ~ 5l3} 4.
S;a To nrevcnt feyers toen tho lyor