The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1897-03-23
A WARNING TO THE COTTON FARMERS.
DO NOT INCREASE THE ACRE.
AGE.

| Oo'"Nh NoouS AEtuC EAcecuIDS1,
Dull--Food and Forage Crop
Should be Ample-Make Cotton
Surplus Crop.
The following letter in reference tt
decreasing the production of cottor
and increasing the production of foot
supplies is sent out for the information
OF cotton planters. Coming from ar
expert statistician on the production
and consumption OF cotton, it empha
sizes the conclusions and justifies the
action taken by the American Cottor
Growers Protective Association, which
met In Augusta on the 18th inst.
New York March ~, 1897.
Hon: Patrick Walsh, Editor Augusta
Chronicle.
My Dear Sir: Though our present
cotton crop will probably not exceed
o,5o0, 900 bales and the stocks in the
worlds markets and mills at the end
Oh the season may be even below the
moderate figures at its commencement,
the fact remains that cotton is half q
cent per pound lower than a year ago.
The cotton goods trade is exceeding
~ dull and prices at about the lowest.
Many American mills are running on
short time. My friend Mr.. Thomas
ELLISON, OF Liverpool, thinks the Euro
pean mills will consume no more cotton
the present seas on than during last
season. In view Of the injury to
british trade from the plague and
famine in India it is, in my opinion,
even doubtful II last seasons consump-
tion will be actually maintained. In
BombaJ, the cotton mills are practical
~, closed, thus releasing more cotton
Tor export to Europe than had been esti-
mated. 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 general revision of
the tarlff, and the uncertainty as 30 the
outcome OF the matter will depress
every kind OF business. The session
may be long one, and it is by no
means certain that any kind of a tariff
bill viii! be passed as the Republicans
do not control the Senate. The de-
preston in business on account Of
uncertainty in regard to the tariff
would then continue into 1898. These
are the conditions which confront the
Southern farmers upon tho eve of
planting time this spring. 1t seems
to me they indicate with q clearness
which admits of no question that every
farmer should first make provision for
ample food and forage crops before
considering the matter of cotton acre
age.
In July last when the crop prospects
were so favorable that many people
predicted yield of 10, 900. 600 bales, the
price for November delivery declined
to nearly 6 l-S cents, while middling
cotton on the spot sold at 1-l6 ceats.
Had not the severe drought occurred,
the crop might easily have reached
$500, 600 to l0,000,0 900 bales and this ad-
dition to the supply would probably
nave resulted in lower prices by fully
one and half cents per pound than
are current today. I think middling
cotton would have sold at five and a
half 70 l-2) cents in New York and
this would have been disastrous to
Southern farmers and q serious injury
to the entire country on account of the
disturbance in foreign exchanges,
which would have been caused by so
great shrinkage in the value of our
cotton exports. do not believe that
one planter in a thousand can produce
cotton so cheaply that he can sell it on
the basis of five and half g 1-2) cents
pound for middling in New York
and get back even the cost of pro-
duction, to say nothing OF any profit.
1t is we'll for our Southern farmers
to remember that the cost OF produc-
tion exerts no influence whatever on
the immediate market yaluc of any
commodity. The present price is gov
erned almost entirely by the existing
conditions OF supply and demand.
When commodities are sold for less
than the average cost of production,
that fact will necessarily curtail pro-
duction, and diminution 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 wear
ago, while oats and provisions are a
tritle lower and wheat and flour a lit
tic higher. The reduction in the price
OF some of these articles, however,
should be no reason for planting moro
cotton and less 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 in which
to buy these things? The world does
not need as much American cotton as
can be grown on the present acreage.
If all Southern farmers would raise
their own food and forage crops lin
Guiding meat and farm animals) and
make of cotton asurplus or money
crop" they would have in their own
hands the amplest protection against
low prices for cotton, inasmuch as
the overproduction Of the staple would
be avoided and they would never be
forced 30 sell their cotton in the periods
OF its greatest depression.
Yours very ruly,
ALFRED B. STEPHENSON.