The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1898-02-01
Facts and Figures For Farmers
wnAr WILL BE DONE in sINrY DAYS.
The Price of Cotton Next Fall VIII be Do
cided Before tho Middle OF March.
columbia State.)

| IoO1oliDlu olule.
A correspondent in Edgofcld
County sends us an annotated copy
of cotton circular Of Hubbard,
Bros IL Co., Of Now York, dated
January 10.
One paragraph reads:
In 1892 and 1895 it was thought
that the South had learned of it's
ability to control prices by reducin 2
the production and that it would
this season pursue similar policy.
We believe 1t will, but the mass Of
the trade and outside buyers would
like to see and read more evidence of
the success Of the movement started
ut Atlanta and Memphis to reduce
the cotton area. Thoy do not SEQ in
the Southern press tho same unani-
nous expression of opinion that tho
reduction will be advantageous to
the planter, or that it is tho only
policy which can prevent lower prices
next season.
Our correspondent comments:
"Move the press to ununimity if you
can"
Another paragraph is as follows:
Will tho markets continue to move
toward lower level, is the question
which now interests us all. The
answer will depend entirely upon
tho action of tho South. If it has
learned to produce cotton proiitably
on the basis of 5 cents there will be
no reduction in acreage and mer-
chants and manufacturers will have
to admit that their position is wrong.
1t is the fear that it will prove wrong
which is now weakening prices, for it
is an old adage that clears, not facts,
make Values"
"Not S per cent. Of the cotton
around me is profitable now at 5
cents"Ts the annexation Of our cor
respondent.
A third and final paragraph is
this:
Should 1T become evident during
the next 60 days that present prices
are not profitable there will be q
|
substantial reduction in the acreage
and the sale of fertilizers which will
lead to an active market. We be-
lieve the reported increase in the
wheat area in the South will DO fol-
lowed by an increased area in corn
and oats, and that little now land
will be cleared for cotton planting,
as we cannot yet believe that there is
any other logical conclusion to be
reached when cotton is bringing less
than tho basis Of five cents in tho
interior. In the meantime, the pro-
blem for the South is to convince the
spinning world that it does not in
tend to raiso bumper crops Of cotton
at present prices Until this is ac-
complished there will be small chance
of permanent advance in prices.
Our correspondent adds to this
the request: "Give your best efforts
to provo these facts and you will
again render most valuable aid to
your many patrons and friends"
The same mail brings us cotton
letter from Latham, Alexander e Co.,
of New York, undcr tho same date,
and it supplies the facts and tho ar
gument. We present it in full:
1t seems to us that the most vital!y
important lesson for tho South to
learn is that over production Of cot
ton is seriously harmful to the ma.
torial prosperity of that section.
We have repeatedly written on
this subject and feel that we have
exhausted the argument; nevertho.
less, with the result of the current
crop, we are constrained to write
again, oven at tho risk Of reiteratine
what we have said beforo.
Whatever share the merchants anG
planters Of tho South arc to have in
the revival Of business and genera
prosperity Of the country, now ap
parently we'll started, will deponC
upon the profit that is made in tho
production of cotton, crop worth
$300,O00,000. ~".... h. ~
The total crop Of IS05-06 was
! 7,157,346 bales, and it sold at the
average price of 500 cents per pound
or $4O.92 per bale according to The
record Of experts and the ot1icia