Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1895-09-05

Free SIyeriteb ShOnid study Ihs history
of Production and Prices Since 1891.
what tbs Record Of Crops Proves--sii-
yer Has No Effect on Prices.
The spread Of free coinage sentiment
] in the southern states has been almost
entirely duo to the belief that the low
! price Of cotton was caused by the adop-
ton of the gold standard. The main
argument Of tho advocates Of 90 cent
dollar in this section of the country has
been that tho alleged demonetization OF
silver was the cause of tho marked fall
in cotton during the past 23 years.
! A bulletin just issued by the depart
ment Of agriculture giving the history
, Of the production and price of cotton for
over 100 years proves conclusively that
the use Of silver as money has nothing
to do with the decline in value of cot
ton. Beginning with 1901, with crop
of $3.50 bales, worth on an average 70
cents per pound in the United States,
the production rapidly increased during
tho next ten years to 2l0, 526 bales, and
the price ut tho same time advanced to
"A cents. In 1902 the crop was 24l 1928
bales, of which 1870, 1913 were shipped to
Great Britain, but, owing to tho great
ly increased supply and largo stock
154, 900 balcs--on hand at the close of
the year, tho price dropped to 10 cents
per pound in Now York.
In spite Of this remarkable decrease
in price the crop increased to $40, 900
bales in 1910, worth 10 cents In 1916
tho crop was 457 800 bales, but the
enormously increased demand from
Great Britain forced prices up to 800
cents, and tho next year to 81 cents.
Those high prices caused an increase in
the acreage Of cotton, and by 1920 the
crop was COG, 0G1 bales and tho price
dropped to II cents The production in
creasing, prices fell, i'll 1922, to 11.40
cents, and in 1927. with II crop Of 057,-
2SI bales, and with 5G2,3 bales in
stock, to 8. 30 cents.
BY 1884 IN increase in the European
demand for cotton had advanced tho
prico to nearly ID cents, with II crop Of
l,205, 1894 bales. For tho next five years
prices fluctuated WILDLY averaging from
IA to go cents per pound, and when, III
1910, tho crop amounted to 2,177,S55
bales, tho average price went down to
( % cents. Tho great crops and the nc
emulation Of largo stocks in Liverpool
caused still further decline, in lS45
reaching 3 cents, the lowest recorded
price, with u crop Of 1891, SOB bales.
by 1850 prices had advanced to l2.34
cents, and for tho next ten years aver
aged about | | cents, tho crop increasing
To 3, 665, boz in 1856 and to 1861 1902
in 1860.
Tho war which broke out in 1861
brought on tho "cotton panic" which
lasted to 1866, when prices went rs high
AZ ~. 80 per pound, Tho close Of tho
war left many Of tho cotton growing
states in IN impoverished condition, and
it was not until 1876 that tho crop was
as largo as that of 1860. In tho mean
timo tho prico had fallen with tho grad
ual increase in production until in 1871,
with crop of 1885, bales, it aver
aged 10. 90 cents. In 1879 cotton was
badly damaged by excessive rains, and
with crop Of only 2,o7I, 35l bales, the
price reached 20.iS. In 1880 tho crop
was 5, 16l ,252 bales and the price had
fallen to ~. OF.
Tho increased European demand for
timo prevented prices falling to tho level
Of tho decade previous to tho war, but
by 1889 tho stock on hand began to in
crease beyond the demand, and in 1891
the unheard of crop of S,G62, 501 bales
forced tho price down to o. Oh cents. In
1892 tho crop was 0,035, $40 bales, tho
stock on hand amounting to 1888, 900
bales Prices fell to 7.G | cents, but ad-
vancCd in 1893, when on account of UNI
favorable weather tho crop fell off to
&, 200, 365 bales, to 1874 cents An in
crease to 7,bI0,Sl7 bales i'll 1894 was
followed by II decline i'll price, and tho
greatest crop on record in 1895, amount
ing to about 0,l1G, 1876 bales, brought
down tho price to G,26
Tho following table gives tho compar-
ativo crops and stocks of cotton and the
lowest and highest prices in tho United
prices reached the lowest point during
tho years when tho accumulation of sur.
plus stocks was tho largest, and that
those were tho years of largest crops:
1871 1880.
Crops in surplus in MddlinS up.
CuitUd Europe mt land per III. i'll
States. close year, Now ORLEANS.
Bales, llluS, Cents.