The Caucasian. (Clinton, N.C.) 188?-1913, 1895-10-31

see IL the amount Of cotton in vari-
Gus years, and the prices for the
same, will bear out . Natural supply
and demand theory. Here are some
figures from the Now York World:
In 1891 the crop was placed At s.6oo. 900.
yet the average price in the New York mar
kes. ~ estimated by the Federal Bur al OF
Statistics, was $50 cents, while in 1853. with
. crop Of 6.1O0.UOD, the average price for the
year was only 50 cents. OF course the pro
duction in any given year must be consid-
cred in connection with the surplus from
the year preceding, but the figures since
1854, considered n q whole. indicate that
hDctusting demand has more 70 do with
prices than va istions in supply. Thus in
1854, with q crop Of 6,7130O0 bales the aver
age New York price OF cotton was 10 IS.
In 1880 1t had risen to ii "a on . crop Of
1911 900, and in 1894. with almost the same
crop q ,527 900 baies), it sold down TO 69i on
the year . average"
Now the fuctuating demand"
above referred to means simply that
in some years the trusts and money
power combined did not contract
the currency"-did not shut up fac
torres, and did not make panics.
Hence the masses Of people could
get work to do, and as long as
they could work they could buy; and
as long as they could buy, the supply
did not exceed the demand. II the
people would just get down to an
honest and earnest study of this
suppty and demand scheme, they would
soon find that it has been used for
the purpose of duping and fooling
them many long years.
During the last two weeks the cot
ton market has been "feverish. " This
is q term the spectators use. 1t
was worked up to this "feverish"
condition for q purpose. The big
workers made fortunes, and all the
little suckers were caught. OF course
what they lost is what the big work.
ers gained. Mr.. John II. Inman, of
New York, made two hundred and
fifty thousand dollars in less than a
week by this "feverish" condition in
the market. After having done this
he can open up and talk gllbly and
serenely about the amount of cotton
regulating the price. Here is what
he says:
THE congestion of cotton, which has
taken place for the last several weeks. and
which eliminated last Wednesday, was
the RESULT OF WILD SPECULATION of Amer-
cans To carry the price to 10 cents. PRICES
WERE CARRIED so HIGH last week that it was
perfectly apparent to any sensible man who
Is accustomed to deal in cotton that if he
WANTED TO OPERATE at all. there was moth
ing to do but shut his eyes and sell. Re-
CARELESS of what the crop is likely to be-
cotton was carried entirely too high, at least
1or me time being. Reactions came more
qulcki and sharper than any of us ex-
pected, but with this enormous liquidation
the atmosphere will gradually clear and the
movement OF prices will now be regulated
by the volume o. receipts, and the probable
outcome of the crop If the crop is only
6,5OO,OCO bales, as many honest and well-in-
formed men appear to believe, cotton, in
my opinion, WILL WORK BACK to the neigh
borhood OF 10 cents before the season is
over. On the contrary, if we have 1000, 900
bales, as some other standard authorities es-
innate, the crop we are now selling is at a
fair valuation"
Now, just notice some of the
phrases of the above-those CAPT.
talized, for instance. You can study
out their meaning if you will; and if
you will discover the meaning it will
be worth much more to you than if
somebody told you. It is time that
the men who produce cotton and
other products were trying to get at
the causes of some things. Mr.. In
man never raised a bale of this cot
ton. He makes $3.50, 900 on it in less
than a week. Can anybody point
out to us a man, or hundred men
combined, who raised cotton and
made that much money on 1t this
year7 Oh! how we long for the day
to come when the farmers will show
that they are not to be regarded as a
lot of chumps, and used as a set of
ten pins by the spectators and gam
blers. They haven't got money
enough to fight them, but they can,
if they will cote right, put a stop to
this sort Of thing by law.