The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1895-02-21
COTTON PROBLEM.
A REUCED ACREAGE Is The
FARMERS SALVATION.
If Another Big Crop Is Raised Still
Further Reduction in Prices Not I'm
probable Farmers Should Diver
sify Their Crops.

The statements made by a prominent
delegate to the recent cotton convention
at Shreveport that he had made some
money during the past season, notwith-
standing the low prices, appear to have
had most injurious effect in foreign mar
kets, where the proposition TO reduce cot
ton acreage during the present year is
being closely watched. The foreign con-
sumers of cotton, not being fully advised
of the true condition of affairs in this
country, and swayed by their own inter
ests in the matter, are disposed to accept
this isolated declaration that profit was
made by a single individual last season
as a proof that the cotton farmers of
the South have so reduced the cost of
production as to make it profitable to
grow cotton at 5 cents. AS result,
they are disposed to consider ruling prices
as not too low.
The fact that the statement referred
to is merely the acknowledgment of one
planter operating in the most favored
section in the South where the yields are
larger than anywhere else, is not taken
into consideration by foreign buyers of
cotton. That cotton farmers generally
have made no money during the past year
is a fact universally conceded and if nc
other proof were available, the utter
stagnation of business at the supply cen
tiers throughout the South would be sui,
ficient to attest the lack of profit from the
marketing of the cotton crop of 1894.
Should large acreage be again plant
ed or should the yield during 1895 be any,
thing near as large as that of last year
cotton must of necessity go lower, prob
| ably TO 3 or 3l3 cents per pound. Such
prices would mean utter ruin to the en-
tire South. The possibility of such &
of hn,.
farmers to supply themselves with fooC
products of all sorts, hence portion Of
their acreage and energies should be de
voted to corn and other food crops, as
well as to cattle and hogs. A farmer
who has grown all his own food supplies
will at least be in better shape to stanC
ruinously low prices than those who de
pend entirely on the merchants for sup
| plies.
As sure as evidence is forthcoming tina
another large crop has been planted prices
must go lower. The farmers of the Soutf
must accept this fact as inevitable, anC
keep it in sight in making all their ar
, rangements for the coming season. Mer
chants are also likely enough to keep i
in view; hence, unless material reduc
ton in cotton acreage is shown from The
very outset values are likely to settle
[ to cheaper basis early in the coming
spring in anticipation to the inevitable
lower level at which the cotton crop o.
1895 will have to be sold.
A further material reduction in the price
of cotton must of necessity greatly de
crease the value of farm land, in tn,
South and this shrinkage will exert a cor
responding influence on all other classes
of real estate in the South. All hands
therefore, farmers bankers and mer
chants, have q common interest in thu
price of cotton and advocating the means
best calculated to bring about that end.
The following dispatch from Liverpool
indicates the feeling prevalent among cot
, ton spectators:
much comment was caused on change
yesterday by the receipt of copy of thu
! Liverpool Courier containing extracts
from the recent speech of Judge j. Z
Egan, chairman of the Shreveport cotton
convention. A clause specially marked
was that in which Judge Egan said
Can cotton be made at the present low
price? If such a thing is possible, wha
method should be used to meet the low
rate? He had been engaged in farming
more than 10 years and had steadily lost
money when cotton was at much higher
price than at present. He had made mon
ey, though small amount, in 1894, II
spite of the very low price, etc.
1.-THE English bears point to this az
refutation of the statement that the
South is on the verge of very serious
trouble ON account of low priced cotton ant
claim that the limit has not yet beer
reached where reduction in acreage is NJ
longer a matter of choice. They poin
! to Judge Egan's statement that he mad'
| to q convention of cotton planters as al
indication that it is entirely possible TO
cotton to be produced at D cents ant
under at a profit, so long as farmers re
duce the cost of production.
"That the latter is within their powe
and they will do so when forced by cir
cumstances. That after all cotton ma,
not be too cheap at Az or 5 cents pc
pound with the planter able to see hi
way out of the difficulty by proper &c
onomic methods. This, perhaps is tn
reason that deliveries of next years crol
are selling so low in the great Englisl
market.
, 1.-THE opinion on change appears to b
that operators in general do not know tha
! Judge Egan was chairman of a conven
ton of cotton planters from the mos
favored state in the cotton belt, sec
ton that produces more lint to the acr
than any in the South. Unfortunatel,
for our English friends, however, tina
/ section is quite limited and produces
small part of the supply of American cot
| ton.
I'm Louisiana and part of Texas, it wa
pointed out, planters might make small
profit, even at low prices of the curren
season, but in other parts of the Soutl
from which the great bulk of the cottol
is supplied the same figures would meal
starvation.
| 1T is of no use to argue against plail
| facts, say local cotton men. Cotton ha
reached hard pan and anything lowe
means state of affairs in the South tha
must be witnessed to be properly appre
catcd. 1t has come to this: that if tn
Southern cotton planters, as class, d
not provide food for themselves for tn
next year. but neglect this and plant eycl
20 per cent less in cotton, the year 1S9
will ever remain memorable as a perio
of suffering south of Mason and Dixon
line greater than has ever yet beel
| known.
DR.. Adam Smith wrote of The Wealtl
of Nations" DR.. Prices Baking PoWde
| looks after their health.
| -O---