The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-03-22
PLANT LESS COTTON.


Latham, Alexander & Co.'S cotton cir
cular comes at time to deter Southern
farmers from planting a large crop of
cotton il they will heed the lessons that
the figures presented teach. =
\ reduction of the cotton acreage and
an increase of the production of hog and
hominy in The South's salvation. Legis-
lation is all directed toward the enrich
ment of the protected interest at the OK
pense of the agricultural population. In
creased taxes for pensions and other ex
penditures means more burdens in the
never to return. With these untoward
conditions. the only hope is to live at
home and board at the same place"
The following facts and wise counsel
ought to command the thoughtful CON
sideration of every Southern farmer:
The total visible supply of cotton in
the world is 613,S2S bales more than
last year, 6G0.092 bales more than in
1896. and ATT .5GS bales less than in 1895.
THE amount of cotton that has been
marketed to date is 2,105,027 bales more
than last year, 1904, 7S1 bales than in
1896, and / ,O45, 1886 more than in 1895
The exports for the year are or. S9G
bales more than last year. 1855, 47O
bales more than in 1896 and 514,674
bales more than in 1895.
'"The stock in United States ports is
2SS,3 bales more than last year,
3J7 $50 bales more thOn in 1896, and
1896 bales more than in 1895.
Midland uplandS is now selling at an
advance of only SIG cents per pound
above the lowest price touched this
season, and contracts for August de-
livery ut an advance of only O.25 cents
above the lowest.
I'm our circular letter of January 10
and February ), we endeavored to show
the undeniably enormous losses that the
South has invariably sustained when
more cotton was produced than neceSsa-
ry to supply the wants of the world
If we should bring the tabulatcd
figures made then, up to this date, the
losses to the farmers on this years
crop would appear still more startling:
and with the condition of affairs now
prevailing throughout the world, the ne
cessity 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
encouragement to plant cotton largely
this year, with the Anglo Russian Chi
nese complications existing in the East,
which might before the new crop could
be marketed greatly reduce the value of
cotton, and the strained relations of our
own government with Spain, which pos.
sibly might result in war, staring them
in the face
Even with permanent peace existing
between all the nations of the globe.
the c0nsumptive demand for cotton
would not be sufficient TO warrant fhc
production of another such large Amer
lean crop as last year. An inevitable
loss TO the whole South. in our opinion.
would surely follow.
From recent circular of Messrs.
Ellison IL CO., Liverpool, the highest au-
tllOrity ON cotton consumption i'm theH
world, we make the following extract as
to future prospects:
In our annual report issued i'm
January, we showed that with an n
American crop of 10.750.0O0 bales.
and a consumption of about $780,
900 bales. the stock of American cot
ton in the ports of the United States
and Europe, and the surplus stock
at the American and European
mills would be about / 100000 bales.
against only 100000 last year. and y
we remarked that i'm regard to thas
future of prices everything would
depend upon the prospects of the
new crop.
With as great a reduction in acre
age rs took place in the spring of
1895, we would sec repetition of
the upward movement in values wit
messed in that year; but if planters
are satisfied with present prices and
do not reduce the area planted. then
cotton will become a greater drug
than it ever has been in the history
of the trade, and planters will not
get anything like present prices"
in their report Messrs. Ellison < Co.
based their calculations upon a crop of
only 10,75O,O00 bales. when 0.97J, 41S|
bales have already been received, and
the indications favor II 100000 bales or
more.
The present unfayorablc outlook for
prices of next years crop should in
duce every merchant in the South TO
use his influence with the planters to
cause a marked reduction i'm acreage.
which would be surely followed by bet
ter prices and greater confidence i'm gen
elal business operations throughout the
South
AAI1IAT nTnFnN NANR