Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1897-03-20
HOW To PROTECT COTTON.
Alfred Shepperson Says the Production
Should be Reduced.


Alfred Shepperson Says the Production
Should be Reduced.
The following letter in reference to
decreasing the production of cotton and
increasing the production of food sup
plies is sent out by Mr.. Patrick Walsh
for the information of cotton planters :
NEW YORK, March Is, 1897.
To the Hon. Patrick Walsh, Editor
Augusta Chronicle
My DEAR SIR: Though our present
cotton crop will probably not exceed
8 100000 bales and the stocks in the
worlds markets and mills at the end
of the season may be even below the
moderate figures at its commence.
ment, the fact remains that cotton is
half cent pound lower than a year
ago. The cotton goods trade is ex-
ceedingly dull and prices at about the
lowest. Many American mills are
running on short time. My friend, Mr..
Thomas Ellison, of Liverpool, thinks
the European mills will consume no
more cotton the present season than
during last season. In view of the in
jury to British trade from the plague
and famine in India it is, in my opin-
ion, even doubtful if last seasons con-
sumption will be actually maintained.
In Bombay the cotton mills are practi-
cally closed, thus releasing more cot
ton for export to Europe than had
been estimated. 1t is to be added
that the cotton crop in India will be
larger than the estimates of several
months ago. Our congress is about to
meet in extra session to discuss gen.
eral revision of the tariff, and the un-
certainty as to the outcome Of the
matter will depress every kind of busi-
ness. The session may be long one
and it is by no means certain that any
kind of tariff bill will be passed, as
the Republicans do not control the
senate. The depression in business on
account Of uncertainty in regard to the
tariff would then continue into 1898.
These are the conditions which con-
front the southern farmers upon the
eve of planting time this spring. 1t
seems to me they indicate with clear
ness which admits of no question that
every farmer should first make pro-
vision for ample food and forage crops
before considering the matter of cotton
acreage.
In July last, when the crop pros
poets were so favorable that many
people predicted yield of ten million
bales, the price fol-, November delivery
declined to nearly St cents, while mid
ding cotton on the spot sold at 1-16
cents. Had not the severe drought
occurred, the crop might easily have
reached 100000 to 100000 bales,
and this addition to the supply would
probably have resulted in lower prices
by fully one and a half cents per
pound than are current to-day. l
think middling cotton would have
sold at ST cents in New York, and
this would have been disastrous to
southern farmers and a serious injury
to the entire country on charges which
would have been caused by so great
shrinkage in the value of our cotton
exports. 1 do not believe that one
planter in a thousand can produce
cotton so cheaply that he can sell it on
the basis of ST cents pound for mid
ding in New York and get back even
the cost of production, to say nothing
Of any profit.
1t is well for our southern farmers to
remember that the cost of production
exerts no Influence whatever on the
immediate market value of any COM
modify. The present price is gov
erned entirely by the existing condi-
tions of supply and demand. When
commodities are sold for less than the
average cost of production that fact
will necessarily curtail production and
a diminution in supply will follow
later on which will then cause an adj
vance in price. Farmers, however,
cannot wait for these processes, as
they are generally compelled to sell
their crops promptly in order to meet
their obligations.
1t is true that corn is considerably
lower in Chicago than it was year
ago, while oats and provisions are a
trifle lower and wheat and flour little
higher. The reduction in the price of
some of these articles, however, should
be no reason for planting more cotton
and less of grain, for of what avail to
the southern farmer would be the low
price of grain and provisions if his
cotton had to be sold for so little as to
leave him no surplus money with
which to buy these things? The world
does not need as much American cot
ton as can be grown on the present
acreage. If all southern farmers
would raise their own food and forage
crops Gncluding meat and farm ami
mals) and make of cotton surplus or
"money crop" they would have in
their own hands the amplest protec-
tion against the low prices for cotton,
inasmuch as the production of
the staple would be avoided and they