The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1896-02-12


dearer than last year, O. II cents dear
er than in 1894, and '35 cents cheap
er than in 1893 for March contracts.
The amount of cotton that has been
marketed from September LIST, (five
monthS for the cotton years mention
ed below, was as follows: 1896, $3.50. 3
599: 1895, 8,o14, ,470; 1894, 6,2a, ,172;.
! 1898, 5,356, ,2W. 49,
The amount, therefore, that has
come into sight this year to February
1st is 2, ,463, ,871 bales less than last
year, 703, ,573 bales has than in 1894,
and 1874, ,392 bales more than in 1898.
The average percentage of the total
crop marketed by February 1st for
the past ten years has been 82.10 per
cent, and if the $3.50, 500 bales that
has come into sight to February LIST
should prove to be 82.10 per cent. of
this crop, the actual total crop for
1866 would be 6, 760, rs bales.
We cannot commend too emphati-
callY the action of the Cotton Grow
ers' Association of America recently
convened at Memphis, Tennessee, and
we wish it were in our power to COM
pei every cotton planter of the South
to read carefully the address issued by
that convention and lay its valuable
truths to heart. We have written on
this same line most urgently for
years.
Our interest in the South and the
Southern people is genuine, and we
have endeavored to show to the plant
ers of the South what was indisputa-
bly, to their best interests.
Under date of November 2nd, 1892,
we issued a circular to the planters OF
the South, and what we said in that
paper we had substantially written re-
peatedly before and have written ha-
quently since; hence, we can say
nothing new at this time in support OF
the address issued by the convention
at Memphis on January 21st.
The South has virtual monopoly
in the production of cotton, and there
is no reason why this incalculable ad-
vantage should not be turned to the
vast enrichment of that section. Any
such good result, however, will never
be realized so long as overproduction
of the staple threatens the world, and
thereby hangs weight to the market
value of cotton. In other words, it
the cotton planters of the South insist
upon making more cotton than the
world has any use for, the surplus will
invariably make the price for ths
whole supply, and thereby depreciate
the value of the unnecessarily large
crop below the value of the reasonable
small crop, and the planter will find
himself at the end of each crop season
out his labor and his pains without
any profit.
The importance of this matter can
not be exaggerated, for the whole t.
nancial welfare of the South depends
upon renumerative prices for the cot
toncrop. -,
Every bankerand merchant through
out the cotton region should feel it his
personal duty to reason and argue
with all the cotton planters with whom
he has relations, persuading them II
possible to keep the cotton crop OF
next year within the probable demand
for it.
There should be a protest from
every town and hamlet in the South
against any increase of the cotton
acreage next year. If the cotton plant
ers will listen to such appeals remu-
nerative prices for the cotton they do
make will be guaranteed by the in
flexible laws of supply and demand;
but,if they insist upon making anoth-
er 5000, ,O0O or 10000, 900 bales crop
next year, they may look for ruin.
Gus return to five cent cotton and
bankruptcy.