The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-09-07
WANT A HIGHER PRICE.
Cotton Growers Talking of Plans to
Boost Up the Staple.

Boost Up the Staple.
The Farmers Alliance and Cotton Grow
ers' Union are agltating a scheme to Sc
cure concerted action among planters,
with view of holding up the price of cot
ton or at least of preventing a decline,
which many ofthose promoting the move
ment declare will otherwise be practically
certain.
A statement has recently been issued by
l. w. Youmans, vice president of the
Cotton Growers Union, which states, in
part that from the best informed and
most reliable sources of information the
committee unanimously arrived at the
conclusion that the present crop would
fully equal, if not exceed, the last, and
If rapidly thrown upon the market would,
in all probability, fall far below cents.
In view of the fact that the cotton grow
ers have the present crop of from ten to
t1ve million bales now in hand, while man
ufacturers and spectators have only
about 100000 bales, and that if the
cotton growers would withhold the pres
ent crop from the market till Dec. l, the
world would be bare of cotton and at the
mercy of the cotton growers for their sup
ply, 1t was determined to effect a thorough
and complete organization of the cotton
growers, beginning with the smallest
geographical subdivision, with a view of
holding the present crop and following up
TINS line OF action through the medium of
township clubs, by enrolling all landhold-
ers in contract to reduce next years
acreage one-half.
1T is manifestly clear that such a line
of proceeding would place the cotton
4 r.f I'll
change the outlook from one of bankrupt
cy and ruin to one of profit and competen-
cy 1t further seems than an effort in this
line would meet with the aid and approval
of almost every business interest in the
South.
well knowing that the principal obsta-
Gle to the accomplishment of this under
taking would consist in the maturing obi
cations of the cotton growers, incurred IN
the production of the crop, a special COM
mittee has been arranged for, consisting
of one member from each state, to confer
with capitalists and provide for the neces
sary funds to take UP these liens and
carry the cotton until such time as it
can be disposed of at fair profit
''At this date last year cotton was quot
ed In New York at S15 cents. Before the
first of November, without any suspicion
that the crop would approximate anything
like such extensive figures as 100000
bales, cotton had declined over 2 cents n
pound. Cotton is now quoted in New York
at 5& cents, with an estimated surplus
on hand of 100000 bales greater than at
this time last year, to be supplemented
by a crop of equal if not greater magni-
tude than the crop of last year
Should this enormous volume of cot
ton be hurriedly thrown on the market,
already glutted with an over-supply, it
would be hard to predict how low prices
all improbable for it to touch 4 cents. If
the plan of the Cotton Growers Union
could be put in operation it would insure
cents net for every pound of cotton regu-
lated by it The difference between 4
cents and cents per pound in 100000
bales would be 100000, 000--a stake of SUI
fciept, ii seems to me, to interest the en-
tire South With almost every Southern
interest more or less interviewer with the
interest of the cotton growers, it does
seem to me that they might combine with
the cotton growers in this effort to con-
summate policy that promises such great
benefit 10 our section
The plan of the Cotton Growers Union
does not appear to be regarded as feasible
among the local cotton men, nor does it
seem TO create much favorable comment
on the exchanges throughout the country.
The scheme has so often been agtated
in past years with no tangible results
that its renewal at this time has received
but little attention.
The plan may be considered a good one
and if carried out might be rewarded by
higher prices, but the main reason why it
appears impossible to make it effective
is that the planters generally are in debt
to their factors and others who have ad-
vanced money TO raise the crop. Their
interest is only contained in the profits
after his debts are paid. They must stand
it and accept the price, no matter what
it be. Besides, as soon as the crop is
harvested it becomes an expense to the
holder and II has been found advantage
eous to market it as soon as possible
Even the independent planters, who could
afford to hold their cotton, are not likely
to do So as the insurance, storage, loss
in weight and other expenses are usually
so great that the owners do not care to
take the risk of an advance
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