The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-02-24


The report submitted to the Senate BY
the committee OF which Senator George
is chairman. relative 70 the causes OF The
depression from which the cotton plant
Ing interest is suffering. contains no new
thought or suggestion. The committee
srcnt great d-al OF time IN investigating
the matter Tho conclusion which a ma
jo7ity reached IS that the cause OF the de-
preston is overproduction- There are. Of
course. "a great many side issues brought
into the report which make interesting
reading and show that the committee
considered the whole subject very thor
9ushly
Tie chairman does not agree with the
majority Of the committee. He IS Of the
opinion that The chief. and perhaps the
only cause for the depression is the de-
monet.zaron Of silver. IL was a foregone
conclusion that Senator George would OK
press that opinion when he was made
member Of the COMMITTEES. He entertained
that opinion at the time Of his appoint
ment. and ii would have taken an ava
lanche Of facts to make him change IL.
Indeed 1t is doubtful IL facts enough 20
convince any unpreiud.ced man that sil-
yer . not influenced the price Of cotton
in the least would have changed his opin-
ion Ia the least. He long ago made up his
mlnd that silver IS at the bottom Of all the
lbs from which the country is suffering.
ana 10 that view De Is likely to hold until
the depression from which about all in
terests are suffering passes away.
Senator George admits. however, that he
secs no immediate prospect Of the re-
mouetizauon Of silver That being the case
what folly 10 is for the s.lverites to keep
the financial affairs Of the country unset
tied by Juggling the silver question to the
front every time an opportunity TO do so
presents itself. They must admit that sill
yer would have received favorable con-
sheraton long ago if there were sufficient
reasons for thinking that the remonetiza-
ton Of silver would restore prosperity.
The friends Of silver are not found among
students of finance. They are among those
who have very little or no acquaintance
with financial problems. This is likely to
continue 20 be the case, and justifies the
conclusion that Senator George has
reached. namely. that the majority are
against making dollar out Of 90 cents
worth of silver, and they are likely to
continue TO be against II.
The reason given by the majority for
the low price Of cotton namely. overpro-
duction, is the true one II the cotton
planters viii reduce the cotton acreage.
and produce this year q 100000 bale crop.
instead Of a 100000 bale crop the price
of cotton win rise to where it was three
or four years ago.
The price Of wheat has fallen below
the profit point for the same reason that
the price of cotton has fallen. More
wheat is being produced than the world
wants. But The price OF corn has held up
we'll And why? Is it not because the de-
mand does not greatly exceed the supply?
why has not silver affected corn as it has
wheat and cotton If silver is the cause
Of the low prices Of the latter articles?
Senator George does not attempt to an
swer that question. He could not do SO
without showing the faIlacy Of his silver
arguments.
What the cotton planters should do is
this: They should plant more grain and
less cotton. They should have their own
smoke houses and grain bins. They would
not then have to buy their supplies on cred
1t at ruinous prices. Their cotton would be
a surplus crop. and they would be the
most prosperous class of people in the
world.