The times. [volume] (Richmond, Va.) 1890-1903, 1897-09-10
THURSDAY. SEPTEMBER. 9, 1897.
cnnn rInINGs rKnM GEoKGIA.

Some time ago am article appeared in
these columns on the cotton outlook, in
which It was stated that from study Of
reports Of Southern newspapers, we felt
warranted I'm saying that the farmer
might reasonably look for a good price
for his cotton i'm the fall one exception
TO the papers quoted was the Atlanta
Constitution. which has been disposed 10
discount the wave Of prosperity. II adj
vised the farmers Of the South 20 sell the
crop as soon as possible, not waiting for
a risa in the price of cotton. as the Con-
stltuton believed that # would not come
But for some reason our Atlanta con-
temporary has changed its views, and is
now a "bulI not only on cotton. but on
the situation generally, as the following
article will show. The Constitution says:
According 20 the views Of men whose
experience entities them TO be called
experts. the statistical position Of cot
ton is stronger to-day than IL has been
for many years I'm fact. there Nems
10 be no conceivable reason why there
should not be "a marked advance In the
price.
In tho first week OF the present cot
ton year the visible supply decreased.
an event that is without parallel. The
surplus has been almost entirely con-
stunned. At the same period in 1895 the
visible supply Of American cotton was
more than 100000 bales AT present
tho supply In sight falls short Of mil
lion bales.
The stock held I'm Europe must be
comparatively small for an Of the new
cotton iu sight and some Of the old sur
plus was absorbed last week. The Ameri-
can cotton mills are buying from hand
20 mouth as the saying is, in their ef-
forts 10 raise prices. but 10 seems TO as
I'm the very nature of things that such
efforts must prove fruiuess If. as now
seems likely. there is an enhanced de-
mand for cotton goods.
Moreover. The free movement Of the
prop from Texas. Louisiana and part Of
Mississippi is bound TO De materially in-
,erfered with by the yellow fever quar-
intine regulations. which viii be kept
~ until cold weather.
There IS. therefore. nc reason why the
price Of cotton should not show an early
and a very material advance. The only
thing that will prevent will be the lack
Of an increased demand for cotton goods.
Many Of the Eastern mills still have
large stocks Of unsold goods on hand
and some Of these have been added TO
by the anticipation Of higher prices
caused boy the tariff Thus far. cotton
goods have made no material response
20 tariG legislation nor 10 the increased
and increasing symptoms OF prosperity
When the response does come. the Con-
stltution hopes and believes that the price
OF the Southern staple will rise.
All the conditions. except the demand
for cotton goods. Justify the rise. and IL
the symptoms OF prosperity are as SUBJ
stantial as they now seem 10 he this de-
mand IS sure 10 come. and that within
very short time. The prosperity OF
the South depends in a great measure
on the cotton crop and we believe that
a due share of the Improvement visible In
other lines will make itself felt In the
cotton market
Cotton has necessarily been quite mac
tive for some little time past. fer the
reason that crop reports were more or
less uncertain. and buyers were waiting
for more definite statements as 20 the
condition Of the growing crop and the
probable yield. II is not al an improb-
able that cotton will go down 20 a lower
figure than 70 has reached within the past
several months. hut an the Richmond eI-
perts who have studied the situation be-
lleye that better prices are sure 90 come
The probability IS. from all that we can
gather. that the crop Is not as large as
has been stated. but even with a large
crop. business conditions are now so
favorable that there is a promise Of great
activity IN the manufacture Of cotton
goods during the coming year. making a
greater demand Tor cotton than we have
known for the past several years. with
a consequent increase in the price OF the
raw material
We have seen no reason 10 modify the
views expressed by this paper some time
ago. and we rather think that the last
opinion OF the Atlanta Constitution is
more accurate than opinions 10 tho con-
trary hitherto expressed. This is ques-
ton IN which not only the South's plant
ers. but business men throughout the
whole country. and especially the business
men OF our own section, are deeply in
terested.
Richmond has a large tsade with ire
South, and. with a nne crop Of cotton and