The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1897-12-20
TIE COTTON PROBLEM.
A Word from the Chairman OF the
Committee on Resolutions OF the
Cation Growers Convention.

Committee ON Resolutions OF the
Cotton Growers Convention.
1t will be conceded, l take it, without
argument that search for solution or
this problem, or any problem, should begin
with the determination of the conditions
that give rise to the problem. l shall en-
dcavor, therefore, at the outset to state
briefly, but clearly, the controlling condl-
lions in this case. and for the sake OF
brevity discuss and dispose of each before
passing from it.
OF course the fundamental condition I'M
derlying this problem. as it does all our
Industrial problems, is the financial ques-
ton. No solution Independent of an cx-
panson of the circulating medium can be
complete or permanent; so. on the other
hand any solution addressed to the pecu-
liar conditions in this case will be made
more effective by an adequate supply or
money.
While the factors and conditions that
enter into and are peculiar to the problem
under consideration are multitudlnoua' they
may be boiled down to three; and FORUM
ately control of any one of the three car
res with It control OF the problem.
In the first place. then, We are confront
ed with the condition that we consume
only one-third of the cotton We raise ruby
two-thrds of our crop. if sold at all, must
be sold abroad. in The markets OF the world
In competition with the worlds crop
Manifcstly there IS no immediate cor
receive for this condition. 1t can be modi-
fed only by such increase OF cotton man
ufacturinG in this country as VIII ABSORB
the major portion of our crop. While this
is not without the prospect and even prom
Use OF achievement. It's realization IS too
far In the future, and too largely indie
to "a
within the pury!eW of this meeting 1t
may. therefore. be dismissed.
In the second place, nearly, If net quite,
two-thirds OF the cotton crop of this coun-
try is produced under eucumbrance. If not
directly mortgaged for supplies with Whlch
to make the crop. the money for suppheS
is borrowed payable in October and Novem-
Der
Clearly the growers ~ this two-thirds
cannot be counted as factors In controlling
either the amount produced or the price.
The only possible way to make this two
thirds of the crop an efficient FACTOR, or
factor of any sort, in the desired deSult,
IS to so enlarge the scope of the organi-
cation suggested below as to include those
who really control this cotton-the local
merchant, who furnishes the supplies to
make it, and whose interest in maintaining
fair prices is identical with that of the
growers themselves.
,,., 20 49,,
-. .,,,,,r.o,,+ oor
th'rd ana by lar lhe most iiiipoi ''''' 00''-
dition to be met Fortunately 1t Is con-
dition not impossible of removal or modi-
nca+ion # Is well understood by all who
,o ,l,,,,o1 into +bo methods Of the New
r,,I ,..,,. a,.,,,,a,,,r, I,,d tho methods Of
all the exchanges are practically the same
that the supply of and demand for actual
cotton cuts no figure whatever in deterin-
t,,t,,o tho I,ricn Of the actual cotton BY
w. ,ra. ~ tho oxchonea huvers of actual
ilt ~, 90 .t,aII,r 7,cIrdoa fror, the
,. T~la,, Tho r,,as of the ex-
49,, t,,.,,, If contrac+ used the
,t'''7'' 90 ,+,..,,,+ o.,n te,dar amy
seirf OF " lu'u'e ~ ,l'1 ,If,,,r,, ~
E''"S VI ''''''' I'm -, .t,, ,,-.,,, 10 %,
lalf. VI couI9" l'lc "P'
tual cotton wants sp.oi"o = CO., I',i,s tIi-
LOT '"e XII" u 800 ~. aT,a,-a ND
49,, - 49, 't,,,,. ~, tho co+4on exchanp.as
''-''f' ti,,.l for,oT ,,Ior him only those
- ,,,t.l,1II,o tTenca tho simmer
5'"pN' i r.t,,, ,,,,,,, e.ooe 70
., puSo VI d, 20 - a.,,, 81. w.,
IN" tNchahSe 10 puS ~ 1p C'l- Ky -il'
wants. any ii0, ~ NODE Of no s,,oc-
oi'',li7eS l'I-l,'' +to .vchanaas fix tho
49, 49,, arr,,,odit,. If cot+on fs
- 1 +.,aIl ma law, of sunnIv and
$3.50 i,,..is,- ,ro o1,,r,,o.s ara
o''-laHu "'"'" 1.o,,5,, bou5, t,,o,T
A. ~ moo, Ia iNr.a
are m"hpul''Oeu sunny ~ Wv
trader ,,.,, ,,i. ,,,.u
Inc spinner puFIhE '"io"7ii i," IS MS
throughout tne country p'9'9 ms ll1iill "
buyers by ihe eAc"t"7'' 4"o'"'' "I'S' ""u
so # faIl or ~ PoIhlS - pio"s III ABOUT
by q speculative 80 - va nc
change, the Spllii'i linn S "tAe' '''o
county puS q u - -,
ducihs lhe puE 81 ''i,i ~ ilo"
can IL De met an ~ "o NJ ""H"rt
unheSltauhSIy' leS' ii;' ili0''ii u Oo'I
ing II are N'tlll l'".,i M, ,o,r,.,..,..
Inc remedy Is 'N'i
braEch OF lhc 6uNSi i''i'''' " 'F' 80 "'
hNohen 10 p'''N ~ ~ W
oo1llh'etioh % tl'' +; ,,,, f,a - ~
nope lhal Iiit 9l' ' 80 -,
exchanges N'i cli'l'9o ~ &c 74F"
them ctliii"' VI ~ -, ~. I lIi'.-'i'
cannot De eApeC'u W VI, MANN ''i'S Ct4f'lbo'
because they lhllh tho-l lI'eie9t ne" III
buying low, ana lNe tI'llu VI tHe eA-