The Kosciusko star. (Kosciusko, Miss.) 18??-1898, 1895-02-15


facts indicate that the American
crop cau1ot determine its own vel
uc. nor the worlds price OF cotton.
Ii then our crop does not abso-
lutely control the price Of cotton,
what will be the probable effects
of arlifcially curtailing our supply
bv any Of the devices proposed?
We do not mean by reducing the
crop onc-haIf, as we find discussed.
Let any one seriously consider for
five minutes the direct effect upon
the South of u so per cent reduc-
tion-but rather II moderate de-
crease Of say 10 per cent. The
American grower would lessen his
cost Of production; bat allowing
that an increase in price would fol
low the reduction. which IS not
certain, the improved price would
be upon reduced product, while
the foreign growers would receive
he increased value upon a full
crop. A further effect would be
an increase of production in other
countries, stimulated by the rise
in price. Thus it appears that
the natural result of reducing the
American crop enough to raise
values will be a gradual giving up
OF our staple industry, not only to
the foreign producers of cotton, but
also, as it will be possible to show,
to other industries, which are in
hot competition with the cotton
industry.
2-EFFECT OF THE PRODUC-
TION AND USE OF WOOL
UPON THE CONSU MPTION
OF COTTON.
In discussing the factors which
bear upon the production and val
ne of cotton, it is imperative that
the relative production and con-
sumption of wool be considered.
With respect to consumption and
values, this can be best done by
bringing those staples into compar.
ison in the great exchange mart Of
the world. If we examine the
imports of cotton and wool made
by Great Britain, covering the pc.
Rod from 1880 to 1891, we shall
note gradual, but very notable,
change in the relative volumes OF
those imports. The following fig
ures, which are prepared from clli-
cial statistics of tho United States
Department Of Agriculture, place
this change before us:
Year. Incr'sa, Imp't price
Cotton Lbs imported per ct per 10. cts
1880 -. ,62s ,664,576 49,. L
1891 =. / ,904 ,SS4,3l2 pa II
Wool
| IOoO.' fOo,JOoyJoo '''s ~
1891. 100 10000 55.3 Is
In 1880 England's imports OF
wool were little more than one.
fourth of those of cotton, and in
1890 We find they are rapidly ap.
preaching one half. The example
of conditions found in great Brit.
ain applied equally to the whole
of Europe. During the period Civ.
en- the net increase (by net is
meant total imports less exports,
most of tine European countries
being exporters as well as import.
ers of woolD in import: of wool
amounted to 50 per cent, while TIE
increased imports of cotton fol
the same period were only q
little over q per cent. In con.
nection with the grea, increase in
imports Of wool is also noted q
great fall in price of that staple
which corresponds with the pres.
ent reduced price of cotton. If we
return to 1871, when cotton was
worth twenty cents to the planter
"wool averaged from forty-live t,
fifty cents per pound" and ir
1872 a United States government
report on the sheep industry states
that "the finest Ohio woods made
as high as sixty-nine and one-hal
cents per pound in New York. >
To-day cotton is worth five cents
and the market columns of the
Times Democrat give the values o.
local wool as follows; Louisiana
clear-Spring clip II to II lie
fall clip to to 10 LIT, bury 6 tc
s lie.
The worlds production of wool
according to statistics of The Unit.
ed States Department of AgricuI-
tnrc, is approximately one-half OF
tile total production of cotton
in examining the changes that