The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1895-04-04
COTTON AND TOBACCO PLANTING
IN 1S2O-GREATLY RE-
DUCED CROP.
TOBACCO BROUGHT LESS THAN
-FOUR CENTS A POUND.
A Marked Flucuation of Gold and Agri-
cultural Products in 1SGI-GS.
Some Very Interesting
Crop Figures.


early business life, has a chart whic
t shows the prices of the cotton crops Q
1917 Is, 1850 and $4,000. The char
, makes part of circular sent out by Vim
cent, Nolte q Co., of New Orleans, unde
date of July 1, 1920, to John S. Sneed
Co., of Lexington. 1t shows that tn
chart device for explaining at a glanc
the comparative prices of any article il
an old one, and was no less satisfactor.
then than now.
The circular begins with formal state
ment that the crop of 1S19-20 had eX
cceded the preceding one by the enormous
amount of 1900 bales. The crop 0.
1853 had exceeded the one of 1S17-1S
by $4,000 bales also, while the increase OF
that crop over the one just before was
$4,000 bales. The total of excessive pro-
duction for these three years thus amount
ed to 49, 200 bales. How startling these
figures were is shown by the remark that
| in the best seasons the crop had never be
fore that exceeded 10000 bales.
| Messrs. Nolte & Co. were disposed to
moralize over this wonderful increase in
production, but were not able to hope that
| it would be checked. Cotton had risen to
| fabulous prices, they said, soon after
peace, and planters had been encouraged
| to raise excessively large crops. n 1919
their imprudence resulted in q decline of
40 to so per cent in values. Most people
supposed that the next crop would be
greatly reduced, but it was not, for plant
ers were sanguine that the markets would
improve. The wiser knew better, but rea-
sOned that cotton at ID and IA cents paid
better than any other crop they could
produce. On the whole, Nolte & Co. saw
no reason to expect falling off i'll the
nrpDOrpI
for progressive increase. Evidently they
were long-headed men, but had any one
yentured to suggest n ten million crop
would be produced at 4 cents and less on
the plantation they would have regarded
him as crazy. They said they would ven
ture no guessing at prices, but as the
shipments of the year before paid fair
profit they supposed there would be little
variation in the market.
They noted the rather curious fact in
passing that the exports to France had
fallen off about 1900 bales the year before,
but that England had almost wholly
absorbed the late increase of growth in
addition to the exports of last season."
They were of the opinion that the price
would be fixed in Liverpool notw1th-
standing that heavy orders were then
pouring in from France.
The chart of comparative prices is very
interesting. The crop of 1918 went at
high figures. The lowest point touched
was in November, 1917, when the market
opened at 80 IL cents. 1t rose rapidly
till on December Is it attained the maxi
mum of 35 cents. Then it tiuctuated
rapidly, falling to 81 cents about Deem
Der 10, and rising to "a in March. By
May is the market had dropped to 30
cents, but it did not stay there long. 1t
rose again in June and by July IL went
to 35 cents. In August it dropped half
cent and the year closed at that.
The 1888 crop did not do 50 well.
Prices went down on what we would
now call toboggan scale. Starting at
80 cents in October, 1918, they began
falling about November II and a month
later 25 cents was all that could be had
for pound of cotton. Prices renamed
steady for a month or two, but began fall
ing again in February and TOUCHED rock
bottom at 10 cents in June, 1919. The
market closed at IS cents.
The 1890 market began with IL
cents in October, but rose to 70 cents in
November. Soon the bears got in their
work and the price fuctuated from IL
to II cents till the next April: In June
cotton rose to 10 cents and the market
closed at that beggarly figure.
Annexed to this circular is statement
of the tobacco crop rices and exports.
The market for that staple was not en-
couraging. With the exception of a few
scattered orders from Spain no European
nation had bought Kentucky tobacco and
the outlook was not encouraging. Inc
price was from 4 "a to b Ia cents. The
circular closed with the sage remark:
"The Western planters make but a poor
business out of sales at New Orleans at
g 1-2 to 4 cents" A table of statistics
was added showing that the tobacco
crop of 100 was only 26,OSS against
30, 1856 the year before.
Few would have thought at that time
that q pound of cotton would ever be
worth less than pound of tobacco, but
time has wrought many changes.
The same citizen has also another chart
issued by Cobb, Dolhonde & Co., of New
Orleans, showing the prices of provisions,
cotton and gold in the New Orleans mar
ket for the season of 1S67-6S. According
to it keg lard. beginning at 13 cents In
September. 1867, rose to % cents by
August, 1868. Lard in tierces was from
to cents lower.
Bacon, clear sides. beginning at IL ga
cents in September, 1867, fell to 13 cecnts
in January, 1868; rose to 10 cents in May
and closed the season at II 3-4. Shoulders
were about 4 cents lower. Hams were %
cents in September, % cents in October,
fell to is 1-2 cents the next January and
closed the season at 20 cents.
Prime corn was worth S1.20 in Sep
tember. rose to SLIGO in November fell to
90 cents in February and was worth but
S1.05 in August 1867. Spectators could
have made and lost fortunes in corn that
year.
Mess pork also fluctuated greatly, start
ing in September 1867. at 90 IL, falling
to 81 10 in January, then zig-zagging up
and down, though always climbing till it
reached 30 IL in August.
Flour xxx began at $11.50 in Septem-
Der, rose to S13 in October, then fiuctuated
slightly, but always going down till it
closed at 50.
In those days gold was at a premium.
Ii fluctuated with cotton. In September,
1867. it was worth 40 IL rose to Ia
by September, began TO decline in Octo-
Der till it touched 1872 IL in December,
rose to 143 1-2 in February, then zig-zag-
ging in narrow limits till 1t touched 147 IL
in August, closing at 145 1-2.
Last years crop of nearly ten million
bales of cotton sold at an average price of
q cents or less, and three hundred thou
sand hogsheads of tobacco. very little of
which sold as low as 1-2 to cents,
mark quite as much change in the agri-
cultural and commercial development of
the nation as the wonderful growth in
population since 1S20.-Courier Journal.
-o-
IL