Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1894-02-23
KING COTTON'S STORY TOLL
HISTORY OF THE STAPLES PRo
DUCTIoN IN THIS COUNTRY.
\ Hundred Years Ago the Entire
Crop Was 10000 Bnles-NOw the
Annual Product l. 5000, 900.

cotton production IN this
country, 10y r. II. Edmonds,
the editor. Just 100 wears 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 gradu
ally declined from forty-four cents
pound in 1901 to thirteen and one-hsli
cents IN 1899.
With prices ranging from thirteen
to forty-four cents, and averaging ior
forty years, from 500 to 1889, trac-
ton over seventeen cents pound, cot
ton cultivation was 50 profitable that
we cannot wonder NJ the disposition o!
tho people Of the South to concentrate
their efforts more and more on cotton
cultivation IT, the exclusion of indus.
trial interests. Beginning with lS4U
there came period of extremely low
prices and the Cotton States suffered
very much from tins decline. In that
year the average New York prices
/ dropped to ninc cents, decline of
| four cents from the preceding year,
and this was followed 10y continuous
! decline until 1876, when the average
was j.63 cents, the lowest average
price ever known to the cotton trade.
Even in 1912, when Nh enormous
| surplus of cotton following the de.
preston that succeeded the Barring
| failure forced prices to what many
' claimed was the lowest point on record,
! the average at New York WAS 7. 30
! cents. or nearly two cents higher than
III 1916. Moreover, in 1916 the seed
WAS without value. while IN 1919
the scale of seed added almost II cent
IA pound to the value Of the crop and
/ transportation WAS very much cheaper
than in 1916. la lS47 the crop was
short and prices advanced sharply, only
to drop back to eight and then to
seven and one-fourth cents, making
the average for the decade, from 1870
10 1919. the lowest ever known in the
cotton trade.
After giving in detail the statistics
of production, consumption ana prices
for each year since 1870, the Manu-
facturers Record SAYS:
A study Of the foregoing figures will
show that even years OF successfully
increasing crops, AS from lSSj-sG to
1912, WAS unprecedented IN the
history of trade. 1t is doubtful if any
leading crop raised can show such an
nnbrOkeu increase for seven wears.
Jumping from :, 700, 900 bales in lSS4-
50 to &, 500, 00O bales in 1855 Sc, there
was practically no hating, us the var'-
atoms IN two wears were too small To
be notice ole. TO 9,03j, OO0 bales in
1892. gain of $500, Goa bales, OF
nearly sixty per cent. advance III seven
Years. II ought not to have been cX-
pectcd that consumption could keep
pace with such an increase. Fortunate
it-thcrc came break. and we have nov
had two short crops. This will help &c
reduce the enormous stocks that have
oNerweighted the market for several
years. With surplus stocks worked
oti fresh start can be made, and ii
next year scrop is moderately small til,
cotton trade Of the world Will then he
on sound basis for higher prices, be
cause consumption will then hay,
ovcrtakcn production.
In eighteen years cotton has brought
INTO the South over 81, 700, 000, 600, Il
sum so vast that the profits out of II
ought to have been enough t" greatly
enrich the whole section Unf0rtun,
atelv. the system which the pOvertl
following the war developed, of rails
ing cotton only and buying provision.
and grain in the West, left at HON,
but little surplus money out Of tn,
cotton crop The West and NORTH
drained that section of several hundred
million dollars every vPar, because il
depended upon them for all of it.
manufactured goods, H. well rs for the
bulk of its food-stutis Hence, Of the
enormous amount received for cotton
very little remained i'll the South
The increase in diversified farming
the raising OF home supplies. the de
vclopment Of trucking and the build
ing OF factories are all uniting to keel
at home the money which formerly
went North and West Whether tn,
cotton-raiscr himself be getting til,
full beueiit Of this or not, the South
at large is necessarily doing SO.
The figures given in the foregoin.
tables show that the lowest uvcrag,
Weld per acre for the seventeen year,
under review WAS l45 pounds in 1881
and the highest 300. pounds in 1891
Had the yield per acre in 1891 been II,
low as in 1881 the crop would hav,
been less than E, 200, 900 bales, iusteat
of 9,03j, 900 bales.
From 1910 to lS49 the averag,
price in New York was eight cents pei
pound, Il lower average for nine year,
than any single year since has shown
except 1891 90.
4 The Importance of cotton in GU
foreign trade relations can be appre
= ciated from the simple statement thai
since 1875 our exports of this stapl
have been valued at 50, 500, 900, 900
while the total exports of wheat ant
-four combined for the same perio,
have been 81, 500, 600, 600, showing
difference of 81 300, 900, 900, or owe
, fifty per cent. in favor of cotton
Moreover, during the same period w
. have exported about 5000, 900, 600 O
manufactured cotton goods, making
the full value really $1,000, 600, GOA
, Compared with the exports of wheat
" flour and corn combined, the value O
q which since 1875 has been 50, 100, 900,
600, there is difference in iavor d
, cotton of 5000, 600, 900. Going bac
to 1920, it is found that the tot i valu
of flour and wheat exported tor tn
J. last seventy-four years is 50, 9l3, 900
9 | N1nn