The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1898-01-25
COTTON ACREAGE MUST BIZ REDUCED.

issued by Latham. Alexander Il Co,
contains facts and figures which have Il
vital interest for every resident Of the
South. The figures sent out by this firm
are always reliable, and their Deductions
are almost always accurate.
The following is the full text Of this
weeks letter:
ut seems to us that the most vital.
important lesson for the South to learn
IS that ovtr-prOddction of cotton is seri-
Ously harmful to the material prosperity
of that section.
I'VE have repeatedly written on this
subject and feel tilat-Wc have exhausted
the argument: nevertheless, with the re-
suit of the CURRENT crop, We are CON
strained to write again, even at the risk
Of reiterating what We have said before.
"Whateyer share the merchants and
planters Of the South are to have III the
revival OF business and general pros
perity of the country. now apparently
well started, will depend Upon the profit
that is made in the production of cotton,
Il crop worth 5000. zoe.
THE total crop of 1S9o-'96 was 1.137,-
GAG bales. and it WAS sold at the aver
TX u Nv VI o.p' t1iii IN totlIlt, VI
S4e.S2 per bale. according to tine record
of exports and the official figures of
the Bureau of Statistics at Washington.
The planters that year made large food
crops, and when the planting season the
next year bcgan. they were fortified
with every requisite to produce cotton
c,Ielply.
Last year the total crop was S.1o7.-
964 }a!es, and the average price was
I.42 cents per pound. or $40 per bale.
the crop yielding, perhaps, Il larger net
profit than for many years, because
planters had few supplies to buy.
The success resulting from the con-
sentative policy which was pursued these
two years did not induce planters to ad-
here to that line of action; N the con-
trary, they increased their purchases Of
fertilizers this year, and many of them
drifted back almost to the all-cotton
principle. and planted the largest cotton
acreage ever known, hoping that the
world would pay reInunerative prices for
the staple. no matter how large the sup
ply.
The. disastrous result of over-planting
this year is already clearly shown by
COMPARISON with last year, when the
acreage devoted to cotton was decidedly
less.
" Last year the amount of cotton mar
keted to January LIST was 6.39S. 1872 bales,
the average price realized was 7.13 cents
per pound, $31.91 per bale, or $242,939,-
$50.
T. His year 1.260.033 bales were mar
Eeted to January LIST. the average price
realized was 6.O5 cents per pound, 5000
Per bale. on sol. 3oS.4O6
The planters shipped to market Sci
gu I'm 10. of cotton moro hv Ia no p y Let
this year than last. and received for
them $~21.3Sn.944 less money. In other
words, owing to the lower price. induced
by Oyer-productiOn. the people of the
South have lost on cotton shipped to
market by january LIST this year, the
total value OF ISL bales. namely. So
i24,102. and sd ,5So,944 besides. making:
q grand total loss Of S54 o .Oi6.
ITO further illustrate the ruinous eff
feet of oyer-planting, We make the fol-
lowing summary Of crops and prices:
"1S93-94 crop. 7.549.S17 bales; aver
age price I.G9; proceeds. 500. 932:S99.
'1S94f95 crop, 1901 pol bales; aver
age price. 30: proceeds, 2SS,91S.:oO4
"1S93-9G crop, 1.137.346 bales: aver
age price, 500: proceeds. S29223443
"1S96'97 crop. S,751, 964 bales; aver
age price. ~: proceeds, 1927 ,5t1 .S34.
1T will Ie seen that in 1S93r94 Il crop
of 7.549.G17 bales sold for S4.O14.391
more than the large crop of 9,9O1,2ol
bales the next year: in 1S9o-96 Il croi
Of only 7.11I.346 bales brought S3,31j.-
o., more than the 9.3O1.2o1 crop. and
that the crop of S.157 ,9G4 bales last yeal
brought $3S, 629,35O more than was Ie
eeived for 1901 Pol bales marketed Il
is94'95.
such incontestable facts show VIVA
enormous losses the South has Sustainc,
by over-production. and are sufficient t.
cause Il radical change i'll planting opera
lions.
1T is conceded on every hand that tht
price thlus far received for this year:
crop has yielded 10 profit to the planter
and even though more than tWo-thlrd.
of the crop have been sole to this date
prices ere even yet below the COST o
production.
"en account of the large crop and 10y
prices resulting therefrOm. it is of vita
appearances. rot only to the South. bu
The whole country, that the cotton acIe
age for next year be materially reduced
in order 20 advance the price of tn
greatest staple product of the Unite;
States ITO II paying basis.
If the planters of the South suffe
loss, the people of the whole count.
must share in it.
"The South cannot stand another cot
ton crop of same dimensions as thi
years. without bringing about disaste
and bankruptcy to planters and handler
of cotton. and relative harm to the gen
eral mercantile interest of that section.
1.-The price of cotton is more readil
influenced by the ineXorable law of SUI
ply and demand than any other arlici
of commerce. for no commodity is $
sensitive to fluctuations. and when
slppIa bundance is hanging over tn
market, cotton trad in all its branch(
is adversely affected.
Cotton raising in this country is vi.
tually a monOpoly-two-thirds If the el
tire production each year is readily talk
by buyers in foreign countries. and ii
planters in the South are justly cntitlt