The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1898-10-05

means could organization attain tneSe
most desirable ends? Adopt the re-
commendations of the National Cotton
Growers Union, organize promptly.
hold all the cotton on hand, and firmly
bind ourselves to reduce this year
acreage so per cent. the ensuing year.
No business man Of any intelligence
and experience will deny the sound
ness of this proposition, that as soon
as effective measures Of this nature
are taken and become a certainty cot
ton will advance and you can borrow
mere money on it than it is worth to-
day, because it will become security
anticipating in value. The visible
supply is fifteen hundred thousand
bales. The invisible supply or stock
at the mills is estimated at five hun
dred thousand bales. This would
make the stock outside Of the growers
hands two million bales. To be Ger.
tain not to underestimate the amount
beyond control of the growers, say it
is twenty-four hundred thousand
bales. The consumption ranges be-
tween eight hundred thousand bales
and one million bales per month.
Then if the farmers would hold their
cotton from the market the surplus
would be entirely consumed in three
months, and the situation would be
entirely changed. Instead Of the far
mers allowing the spectators and
manufacturers to fix the price by pay
ing whatever they choose, which they
will do il the cotton is thrown on the
market, the farmers, with all the mar
kets bare Of cotton and in full posses
sion Of the supply, will be in command
Of the situation, with power to fix the
price, and the manufacturer will have
to pay their price or shut down his
mill. A reduction Of so per cent. in
next year s acreage would insure such
diminution Of the supply and make
cotton so scarce and competition
among the manufacturers so active as
to bring about raj id and steady rise.
That this rise would be certainty we
only have to refer to the var Of seces-
sion. McHenry in his History Of the
Cotton Trades, page 81: s'In ordinary
times there is always two years sup
ply Of cotton in the crude and manu-
factured state at the consuming points.
At the fall Of Fort Sumter there was
suf6ciency for three years require
ments." With the supply greater
then in proportion than now, as soon
as production was contracted we note
the following extraordinary rise in
price: It averaged in 1850, II cents;
in 1861, l3 cents; in 1862, 81 cents;
in 1868, 81 cents; in 1864, s1.O1.
But it is argued any contraction Of
production in the South to raise prices
would stimulate foreign competition.
IF 81 per pound could not stimulate
injurious foreign competition in the
SOS, eight and ten cents cannot do it
now. On this point Ellison says, in
his History Of the Cotton Trade, Page
141-142: ''For some years prior to
the outbreak Of the civil war it had
been foreseen that, sooner or later, a
serious labor disturbance at the South
was inevitable; and in view of the
calamity which such an event would
bring upon Lancashire every effort
was made to discover new sources Of
cotton supply. But although the
powerful association formed for the
promotion of this end searched every
nook and corner of the cotton zone,
and sent seed to every one in the four
continents willing to experiment, they
entirely failed to accomplish the laud-
able object they had in view. Mr..
Ellison further tells us that while the
enormously high famine prices during
the war did considerably increase for
eign shipments Of cotton, they de-
clined almost to their normal level
when the price receded to Is cents or
30 cents per pound.
If no action is taken and this crop
is forced on the markets as usual in the
next four months at present and prob
ably lower prices, it will not pay the
cost of production, the country will
be stripped of means and every busi-
ness interest must suffer. If there
should be no effective organization to
regulate the acreage the industry will
be but an illustration of the survival
of the fttest; those who can raise it
cheapest and those of us who cannot
compete must accept the hopeless and
cheerless lot of the bankrupt and pau
per.