The Forrest City times. [volume] (Forrest City, Ark.) 1871-1919, 1898-12-09
Too Huch Cotton.


pounds per acre. and this will be two and
two-thirds acres per bale. and 10 900 .6o6
bales on $4,000. 900 acres, this a; five cents
would bring the sum of $3.50, 66s, $50.
At the same rates of production ON
Ieighteen million or one-fourth less in
acreage the crop would be s.66o, 6661l
bales, this at seven cents. or an advance
Of two cents, would be 5000, 3SS 325, or
gain $50. 666. 97s. to this add the cost Of
producing the surplus 2,666. $3.50 bales at
SIS per bale will make 500 500 1874 and
SO. &c., 75. making actual loss, sos, $685.
600. A reduction of one fourth acreage
in cotton would giye 5000 900 acres. more
to put in other products and with less
labor we could have more money, and
more Of every product to live on.
Why does this condition now exist, and
why is 1t that the laboring people who
produce so much by very hard and contin.
uons toll can not pay out or have anything
beyond scant living, and can wear only
the cheapest kind of clothing?
These very conditions do now prevail
throughout the entire cotton country. and
l aim here to show the cause of prevailing
conditions and should get on some ones
toes and you kick will know who has
been HIT
First. How is the credit system carried
on? l will illustrate by taking an average
country town merchant who has capital
of $50 600 in trade; to go beyond this re
has to borrow from the commission mer-
chant through the banks they own, say
$40, 900 at s per cent. interest For the
loan of the money the merchant agrees to
cover by shipping said commission mer-
chant all his customers cotton. The mer.
chant to protect his own credit takes
mortgage for all advances made with
some exception) 10 make the crop and it
has been to his interest and the interest of
the railroad that hauls both supplies and
cotton, and commission merchant who
handle and sell all the cotton, so you see
that virtually all the capital is being used
to force tue over production, not only by
the money but the influence of banks,
commission merchants, railroads, and mer-
chants. The exorbitant railroad tariff
the heavy per cent on the advances made.
the interest on the money and the per-
centage for.seling the big crop forces the
producer to strain every nerve to make
enough to pay his expenses and under
these conditions the farmers are gravita
ting all in one directon-to the merchant
the commission merchant, and the bank,
and soon most farmers will leave their
children tenant OH their own or some
other farm.
There must be some way out of this ex
listing condition, and it is not by additional
energy in making more cotton. We have
tried this plan and failed.
The greater amount of the crop is
raised on borrowed capital The percent
age on advances is greater than the profits.
therefore the more made the greater the
loss, and this loss is gravitating the farms
to the hands of the merchant, through
them to the commission merchant, who
own and control the banks, as evidenced
by their ownership of millions of acres OF
farm lands In the cotton section.
The land owner should force reduc-
tion Of one fourth by renting cotton land
at SIS. so per acre. The one fourth to be
planted in home products, and be divided
between land owner and tenant This
would be guarantee of home supplies.
This brings US to the advancing of mer-
chants to tenants. and here must say that
the system is very bad one. Irresponsible
parties are carried on the books who leave
Or Jump crops or get in debt as far as pos
sible and move on some where to repeat
the same game. The responsible parties
are forced to pay all such losses in prices
on their purchase. The merchant should
refuse all such parties credit either in
supplies and stock, and assume no rent
for them. The honest aud responsible
should be encouraged and should have
supplies at more reasonable rates, and the
merchant should assume rents on cotton
lands for such. Every merchant should
do business within his own means. and
hold products in his own hands, and leave
the commission merchant out except as
far as buying and selling without borrow
ing and pledging crops.
So far the commission merchant and
loan banks are cut off, and you say what
is to become Of the unemployed capital
now used in making so much cotton? So
long as capitalists can secure large inter
est in cotton and lands so long will our
manufacturing interests in the South lie
idle.
The capital used to force overproduetion
should be tursed to the mandatory Of
our raw material into finished products
for the worlds market, and give employ