The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1898-11-26
THE SITUATION IL COTTON.

Cotton ana Its future IS Taxing up
great deal of the space of newspa-
pers Just about now. Especially IS
this SO in the south, where the one
crop system has been going on for
years, until now that the price OF
that one crop system has gotten be-
low the price of production and the
southern farmers will be compelled,
under sheer necessity to abandon 1t
as whole crop, or go out OF the
business entirely.
The New Orleans Plcayune says
about the situation of cotton:
Judging from the complaints
which are heard from all parts of the
South, the present season is proving
bitter experience to the cotton
producers. Notwithstanding the
predictions of those who maintain
that cotton can be produced at less
than five cents pound, it is very
clear that the present price of cot
ton, which is considerably below
five cents on plantations, Is proving
anything but profitable. Planters
and tenant farmers who have made
their crops on advances find them
selves unable to pay ont, and even
the more thrifty who were able TO
do without advances now find that
their labor has been without profit.
Notwithstanding these many EVIL
dences that the present cotton crop
is selling below the cost of produc-
ton, there are still many people
who believe that prices will go
lower, and it must be admitted that
there is no speculation to speak of
at present prices, and, consequently,
nothing to indicate the confidence
of moueyed men In better outlook
for cotton. Experience teaches,
however, that when a product so
staple as cotton drops below the
cost of production in value, a reac-
ton is not far off. Such was the
experience which followed the low
prices of 1894, and such, in the
natural order of things, should be
the experience this season.
Just what will give the initial mo-
mentum to the upward movement it
is difficult to foresee, and just when
the upward movement will begin it
would be hard to predict. A first
favorable symptom has already be-
come apparent, however, in the bet
ter demand for spot cotton which is
reported both from domestic as well
as foreign spinners. This must be
considered as an evidence Of grow
ing confidence upon the part of the
actual consumers of raw cotton.
Were this actual demand followed
by revival of speculation, the reac-
ton which all interested in the cot
ton industry are paying for would
soon set in. Speculation, however,
.continues dormant. Never, per.
haps, in years has there been SO pro-
longed an indifference to cotton on
the part of spectators and this
lack Of interest has had much to do
with the persistency with which
prices have sagged downwards.
This Indifference on the part OF
spectators cannot continue indef'
nitely. There are those who be
: lieve, and they are probably right,
that should the demand for spots
continue, spectators will be encour
aged to believe that the turn IN the
tide has come, and will then take
hold with something like old-time
energy.
People are already beginning to
consider the probable effect upon
next seasons crop of the low prices
now prevailing. If farmers are los
ing as much money as is reported,
there can be little doubt that they
will be less able TO plant large
acreage next season. Moreover,
there will be strong agitation III
! favor Of curtailment of acreage; ir
fact, the agitation in that direction
has already commenced.