The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1895-03-13
COTTON IN THE SOUTH.
FACTS AND SUGGESTIONS CONCERN
ING THE SITUATION.
What the Depression Is Due to, How to
Remedy it and When to Proceed--The

What the Depression Is Due to, How to
Remedy it and When to Proceed--The
Question Discussed by One in Position.
WASHINGTON, March S.-The fol-
lowing is a copy of letter written to
cotton growers by Alfred B. Shopper
son, editor of the Cotton Facts, and
secretary of the subcommittee on cot
ton of the senate committee on agri-
culture: :
Washington, D. c., March 2, 1895.
I have no pecuniary interest what
ever in the cotton market and it is
well known to prominent merchants
all over the country that I never have
had any. AS a close observer Of all
matters pertaining to cotton, I have
thought it would not be deemed out of
place to present to the cotton growers
of the country some facts and sugges-
tons concerning the cotton situation
The price of middling cotton in
New York is now 1915 cents per
pound against = cents on March lst,
1894, while corn is now As cents per
bushel in Chicago against 35 cents
year ago. The decline in cotton is
over twenty-five per cent. while the
advance in corn is thirty per cent.
The New York quotations for cot
ton and the Chicago quotations for
corn, however, do not really present
the economic aspect of the matter in
it's strongest light, as the cotton grow
er does not receive the New York
price for his cotton, but actually gets
very much less, as freight to New
York and all handling and selling
charges and the cotton buyers profit
have to be deducted so that the plant
er, at present prices, only obtains
about four cents per pound for mid
ding cotton, and the crop will not
average so high in quality as that
grade.
Neither does he get at the Chicago
price the corn he has to buy, as freight
and charges and usually large profit
are added to the Chicago price, so that
today the Southern farmer who buys
corn instead of raising it, has to pay
IS or 70 cents per bushel for it.
Corn is the most important cereal
for the South as its abundance and
cheapness insure ample food for the
farmers and their animals, while an
insufficient supply and high price In
volve the opposite results. The South
ern cotton growers obtain large pro-
portion Of their grain and meat from
other sections of the country. Con-
fronted now with a large shrinkage in
the value of cotton coincident with
great appreciation in the value of
corn, the situation seems to impera-
lively demand Of the cotton growers
reduction this spring of the acreage
devoted to cotton and an increase g iv-
en- to food and forage crops.
The present depression in cotton is
due in great part to the very large
stocks in European and American
markets and the fear that the acreage
in cotton will not be reduced this
year. Notwithstanding the fact that
the spirners have bought much more
cotton than last season, the stocks in
European and American markets are
four hundred thousand bales more
than at this time last year.
The price of cotton is at the lowest
point since 1S4S, and large crop this
year would undoubtedly send it still
lower. Every planter knows that
present prices of cotton are much be-
low the average cost of production.
In view of facts stated, I earnestly
recommend as manifestly for the best
interests of the cotton growers of the
country, very material curtailment
of cotton acreage this spring and an
increase in all food and forage crops
and that greater attention be given to
the raising of live stock and farm ami
mails. Food crops of every description
should be raised on all Southern farms
and cotton should be made a surplus
or money crop. It is probable that
moderate crop this year will sell for
actually more money than a large
crop. Very respectfully,
ALFRED B. SEEPPERSON.