The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1898-03-22

K. IL. AULL, EDITOR.
SHALL WE lNVIrE RUIN?

The total visible supply of cotton in
tho world is 6l3,S2S bales moro than
last year, 660,002 bales moro than in
1896, and AT ,56S bales less than in 1895.
Tho amount Of cotton that has been
marketed to date is2,l05, ,02T bales more
than last year, 3,69i,TSl bales moro
than in 1896, and l,0l5,9S6 more shan in
1895.
The exports for the year are 917 500
bal lies more than last year, 2,365,4T0
bales more than in 1896, and 5l4,G74
bales more than in 1895.
The stock in United States ports is
2SS,3S5 bales more than last year, 3jI,-
330 bales more than in 1896, and 81 ,S96
bales more than in 1898.
Midland uplunds is now selling at an
advance Of only 5-l6 cents per pound
above the lowest price touched this
season, and contracts for August dcliv-
cry Mt an advance Of only 0.2j cents
above the lowest.
In our circular letter Of january 10th
and February 9th we cndeavorcd tH
show the undcniably enormous losses
that the South has invariably sustained
when more cotton was produced than
necessary to supply the wants OF the
world.
If we should bring the tabulatcd fig
ures made then, up to this date, the
losses to the farmers on this years
crop "0uld appear still more startling:
and with the condition Of affairs now
prevailing throughout the world, the
necessity for a reduction in acreage
this year should appeal To every farmer
with greater force and induce him to
largely increase the production of food
crops.
The planters of the South have no
nItD ~
this year, with the Anglo ltussiau-C Chi
ncse complications existing in the east.
which might hciorc the new crop could
hc marketed greatly reduce the value
ot cotton. and the strained relations of
our own government with Spain. which
possibly might result in war. staring
them in the face.
Even with permanent peace existing
between all the nations Of the globe,
the conSumptivc demand for cotton
would not be sufficient 10 warrant the
production OF another such large Amer
lean crop as last year. An inevitable
loss 10 the whole South. in our opinion.
would surely follow.
From recent circular Of NcsSrS.
Ellison X Co, Liverpool. the highest
authority on cotton consumption in the
world, We make the following extract
AS 10 future prospects,:
In our annual report issued in Jan.
uary, we showed that with an Amcri.
can crop OF 1880 QtN bales, and con-
sumption Of about 9.6iu.UU0 bales, the
STOCK OF American cotton in the ports
ct the United States, Europe, and the
surplus stocks al the AMERICAN and
European mills would hr about l.%ul.-
eOo tales, againS, only 500. 600 last wear,
and we remarked that in regard to the
future Of prices everything would de-
pehd upon the prospects OF the new
crop.
"Wlth as great Il reduction in acre
age as took place in the spring of lS95.
We would see Il repetition OF the upward
movement in values Witnessed in that
year; but II planters are satisfied with
present prices and do not reduce the
area planted. then cotton will become Il
greater drug than it ever has teen in
tne history OF the trade, and planters
VIII not get anything like present
prices"
In their report McSSrs. Ellison 4 Co.
based their calculations upon crop of
only 10, 80 ,0Oo bales. when 9.o75,4lS
bales have already been received, and
the indications favor | 900 ,Ot0 bales or
more.
The present unfavOrublr outlook for
prices OF next years crop should induce
every merchant i'm the South TO use his
influence with the planters to cause Il
marked reduction in acreage, which
would be surely followed by better
prices ana greater cOniidcnc" in gen
eral business operations throu, rhout The
South.
What are VIC going to do about il?
If the vast quantity Of commercial
fertilizers bought in South Carolina
this year shall be put under cotton, as
Is customary, nothing can save the
State from business collapse next fall
The cotton SO stimulated and produced
will sell at t cents or less. That means
ruin.
The fertilizers have hccn bought
there is no helping that--but they have
not yet been used. According rs they
are used under cotton or food crops
will the State suffer or prosper.
Every sign points to lower prices for
cotton. Every sign points to higher
prices for brcadstuils. Are We sane or
insane?
The newspapers Of South Carolina as
" rule are doing their duty in warning
the farmers how much depends upon
their action at this juncturc. What ar,
the merchants uoing? Latham, Alex.
ander & Co. urge that the merchants
use their influence with the farmers tc
reduce the cotton acreage. viii they
do so? They have great Influence. Ir
many cases they practically dictate
what the small farmers shall plant
They naturally desire "a money crop
but what will it profit them to have
money crop whlca will not yield
enough money to repay advances:
Grain will be the real money crop this
year.
The next month will determine tho
fate of South Carolina for eightcer
months after. If the State shall "gt
broke" on cotton there will be no re
vival unless and until the fall of 1S0!
shall show cotton crop small enough
TO assure the absorption of the world's
anrnluS Whot IL 1opo NON, ,v;n ;,,N N,,