The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-09-26
Eight Cent. for COTTON.


RIiddling cotton was quoted at s cents
in Savannah yesterday We have no
doubt that the price viii advance con
siderably beyond cents. How great the
advance VIII be Will depend upon the crop.
reports. Every day it becomes clearer
that the crop is short one, and that
the estimates Of the yield that have been
made thus far are exceedingly liberal
ones
II is quite safe TO say that the cotton
farmers are going TO receive more money
for their crop this year than they did
last, Notwithstanding the falling of in
the yield, and their profits viii be a great
deal larger than they were last year,
because the cost Of making the crop
was much less.
We have been expecting to see in the
silverite newspapers some explanation Of
the great rise in the price of cotton. but
we have been disappointed. We refer
particularly to those silverite papers that
day after day. few months ago when
cotton was selling at 5 cents a pound,
declared that the low price of cotton
was dug wholly to the fact that our minis
were closed to the free and unlimited coin
age OF silver. If. as they asserted. the
alleged domonetization Of silver caused
the low price of cotton, what is now the
cause Of its high price? We would like
TO have the silverite papers frankly an
swer that question.
When the price of cotton was cents
a pound the Morning News stated that
the low price was due TO overproduction-
that the supply of cotton exceeded the
demand. We couldn't get our esteemed
silverite papers to accept that view. 1t
didn't suit their purpose to accept it. Their
aim was to convert the people to the belief
that only by the free and unlimited coin
age Of silver could they hope TO see the
price Of cotton much, If any. above
cents.
The Morning News told the people, when
cotton was selling at cents, that silver
had nothing to do with the price of cotton.
and it now tells them that the reason
that cotton is selling at cents a pound
is that there is a short cotton crop-the
demand is greater than the supply. 1t
is so clear that silver does not influence
the price of cotton that it is a source
of wonder that any cotton planter should
be misled by the reckless statements of
the organs Of the silver mine owners.
And if the people will think a moment
they will have no trouble in settling
to their own satisfaction the question
as to why the price of silver is so low.
Not many years ago l6 ounces of silver
were worth one ounce of gold. Now l6
ounces Of silver are worth only a little
more than half an ounce of gold. The
reason of this change in the commercial
value of silver is the extraordinary pro-
duction Of silver Within the last few
years there has been an overproduction of
silver-the supply has exceeded the de-
mainland consequently the price of silver
has fallen The people can see what has
taken place in respect to cotton. When
there was more cotton produced than the
world wanted at high price the price
of cotton fell So in the case of silver.
the overproduction of the metal forced
down its price.
The readers of the silverite papers
have doubtless noticed that those papers
have very little to say in explanation
of the rise in the price of cotton. The
truth is there is nothing they can say
that would not put them in a very un-
comfortable position.