The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1897-07-20
AN EXPERTS OPINION.
viii the Cotton Planter Get any Ben
eft from the Duty on Egyptian
Cation

Cotton.
Mr.. Alfred b. Sheppcrsou, the IA
nous cotton expert, contributes to Tex.
tile America q most Interesting article
on the proposed protective duty on cot
ton. He does not believe that this tax,
which will apply practically only to
Egyptian cotton, will have anything
like the effect hat is expected by its
advocates, and the producers Of Sea
Island cotton, The cultivation in this
country of the fancy varieties Of cotton
with which Egyptian cotton II most
directly into competition has decreased
materially within the past few years,
but Mr.. ~Shepperson says:
Il do not think, however, that the
reduction was caused by the impOrta-
ton OF Egyptian cotton, but was due to
the fact that because of its lager yield
and more ready sale it was found more
profitable to grow the shortsr 'stapled
variety in common use"
Mr.. SheppersOn does not b3lievc that
the price of Sea Island cotton will be
affected by q protective duty. He gives
as follows some excellent ,easons for
this faith
THE fact that the Senate had voted
on the Sth inst. to impose Il duty of
V"ShSJ N-pJ POI SIhO' VII IA" SoGIOu " do
known in every importan; market in
this country and Europe oy the next
day n has had no effect whatever
upon the price of Sea lslanu' or any
other kind Of American cotton. If
merchants or spinncrs believed that
the effect of the duty would be to en-
nance the value of any description OF
cotton, they would have bOlght so free
ly as to have materially advanced
prices long before now. They would
not wait for the actual enactment of
the law. On May % theonicial quota.
tions Of 'mlddling uplanG cotton were
II cents in New York, and II pence in
Liverpool and to-day's Quotations (Junc
2S) are exactly the sar1 in New York
aud l-32 of IL penny lover in Liverpool.
The quotations of South Carolina Sea
Island cotton in Charleston and of
Georgia and Florida Sea Island cotton
In Savannah to-day are precisely the
same as on May IS. My latest Liver
pool quotations Of s | Island cotton are
Tor 18th inst, and nile the prices for
Georgia and FIOri Sea Island cotton
were h same as ca May 2I, the prices
OF some grades OF South Carolina Sea
Island cotton were Il little lower"
Mr.. Shepperson does not think that
the present low lrice Of Sea Island cot
ton is due to the competition Of Egyp-
tian cotton, nor does he believe that it
is possible TO raise the price Of Sea Is
land cotton by the proposed duty. He
says on this point:
The fact Of our placing a duty on
cotton could not possibly have any cf-
feet upon European markets, except
that just to the extent that
Egyptian shipments to America
n,t,rlt Ia, ,,,,,,il,s ~, r,,,rl,, .,.f1,
bic for Europe would be increased.
The European price necessarily fixes
the price of cotton for the American
markets, rs it would be utterly impos-
sible for the purchasers Of only thirty
(3O) per cent. OF the crop to govern the
price to be paid by the buyers Of the
other seventy (TO) per cent. Tho price
OF our cotton is not controlled ty the
views Of its owner or their commission
merchants, but is regulated by what
the European spinncrS are wiling to
pay for II, and no one can pretend that
the imposition by us of u duty Oh Egyp-
tian cotton would mako u cotton any
more valuable to European %spinncrs."
Mr.. SheppersOn believes thai u duty
on cotton will not only not help the cot
ton planters OF the South, but will prove
a positive injury to them. 1t will in
crease inc COSV Oh inc ESyptiSn COTTON,
which our manufacturers use and they
cannot well substitute Sea Bland cot
ton for the Egyptian. In sine cases
they might do so, but lit would be quite
as unwise as it would be for a~contractor
to use marble instead of graiitc for the
foundation walls Of u house when the
price stipulated to be paid fQ' the house
was based upOn.the foundation being Of
the cheaper MATERIAL
The greatest danger Of hc duty on
cotton is thus set forth ~ MIR. Shop
person:
Instead Of helping the cotton grow
ers, think a duty upon cotton will
Prove to be a positive inj'ry to them,
as it will undoubtedly case the plant
ing next year Of larger crops Of Sea
Island and fancy staplcd cotton when
the present production O these cottons
Is already S great hat jrices are be-
low "A remunerative poin. To increase
Tho supply without IL corresponding in
crease in the demand mast inevitably
result in still lower prIcs.'
THE lNNTTAI f~fN " trN-IIn>