The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-01-22


1t will be seen that in 1S93-94 a croD of
7,549,6l7 bales sold for $4014S95 more than
the large crop of 1901 ,251 bales the next
year; in 1866 a crop of only 7,157, S46 bales
brought S3,3l5.933 more than the 9901 251
crop, and that the crop of S7S7, 1854 bales last
year brought S9S go $50 more than was re
ceived for 9,901,25l bales marketed in 1894
So
Such incontestable facts show what
enormous losses the South has sustained
by over-production, and are sufficient to
cause radical change in planting opera
tons.
1t is conceded on every hand that the
price thus far received for this years crop
has yielded no profit to the planter. and
even though more than two-thirds of the
crop have been sold to this date. prices
are even yet below the cost of production
On account Of the large crop and low
prices resulting therefrom, il is of vital
importance. not only to the South but the
whole country, that the cotton acreage
Tor next year be materially reduced in
order TO advance the price of the greatest
staple product of the United States to a
paying basis.
If the planters of the South suffer loss.
the people of the whole country must
share in it,
The South cannot stand another cotton
crop of same dimensions as this years
without bringing about disaster and bank
cotton.
and relative harm to the general mercan-
tile interests of that section.
The price of cotton Is more readily in
fiuenced by the memorable law of supply
and demand than any other article of
commerce, for no commodity is so sensi-
tive to fluctuations, and when a super
abundance is hanging over the market
cotton trade in all its branches is adverse
ly affected.
Cotton raising in this country Is vir-
tually monopoly-two-thirds of the en-
tire production each year is readily taken
by buyers in foreign countries, and tho
planters in the South are justly entitled
to fair remuneration for their labor.
An oversupply is the only reason why
they have to sell 100000 TO 100000 bales
of cotton to foreign spinners, without
profit.
The cotton crop can,and should be, made
the most profitable in this country. Ii Is
wholly the planters fault that such is
not the case, as the figures in this letter
clearly shows.
The cotton interest of every kind, every
where, would prefer an advancing market
TO declining one, good prices to poor
ones, because trade in all of it's ramih-
cations is quickened thereby. Even the
consumers of cotton goods are so slightly
affected by an advance of even 3 or 3
cents per pound in the raw material that
they are not unwilling that the planter be
Wen pald Tor MS labor But If the plant
ing interests of the South continue to in
crease cotton acreage year after year, con-
tinual loss is inevitable.
The mere fact that a large crop has
been planted affects the price adversely
at once, and continues TO affect it until
the crop has been marketed and il the
planters of the South would determine to
largely reduce the acreage. a favorab BILE
influence upon prices and the cotton trade
of the world would at once become appar-
emit
BY the systematic and cooperative &C.
ton between the merchants and planters
the cotton crop must be kept within rea-
sonable trade demands or else destroy the
most valuable source of profit to the mer.
camille and agricultural interest of the
South. For the good of all concerned. II
would be infinitely better any year to make
million bales less cotton than half a mil.
lion bales more than necessary.
The material welfare of the South is
more dependent upon her cotton crop than
upon all other sources of income combined
and Il is entirely with the planters and cot
ton commission merchants to determine
whether the value of this crop shall from
year to year be a source Of annually in
creasing profit or a source of dlsappoint-
nlent and loss.
Latham, Alexander G. Co.