The age-herald., 1898-10-05

Our sunny south land is facing another crisis The industrial crash is at hand. From the sea islands of the coast of Geor- gia and the Carolinas, through the rich alluvial land of the Mississippi River val ley to the black waxy lands of Texas, from the fertile valleys of the Tennessee river to the low lands near the gulf, is heard the plaint of cotton growers and all others dependent on cotton for a living. They formerly shouted Cotton is King" But now the price of the staple has dwin- dled and the southern folk complain that Cotton Is a curse"
 The present generation listens with won- der to stories of the time when cotton sold at four, five, six and even ten times its present price. The highest price was in 1864, when sales were made at S1.90 pounds, but that, of course, was an incident of the war. The mean price since the civil war to 1892 was between 12c. and 15c. pound, or nearly three times the price now ruling.
 Not only has the price been divided by three, but the product from each acre, ex- cept in the "low'' country, has been reduced by half. It now requires an average of two and one-half acres to make a bale of upland cotton, while not more than three bales weighing 800 pounds each, worth to the grower $20 each, are picked from the alluvial lands of the valleys and deltas.
 Cotton is now selling for 412c. a pound in Savannah, Memphis and Galveston. It is hardly worth the picking Yet this years crop promises to be the biggest on record, as last years proved to be-
 The drop in price makes men think. It has seriously affected a part of the Eoun- try richer than all others in natural re- sources What will be the outcome; what the result of such change in the price of cotton staple?
 In answer to the question, the press cor respondents throughout the cotton belt and adjacent sections have sent reports to sum- marze the situation. These reports are given briefly below. Not one is hopeful in its tone. Several say that the cotton grow CTS are planning to restrict production. That plan has been tried before, but met with little success.
 Others write of the growth of cotton manufacturing in the south and the in- crease in the exports of cotton goods from southern ports The same increase in the exportaton of cotton goods fSom New Eng land mills is noticed. And herein lies so- lution of the question: The mills in both the south and north are said to have suf- fered from the constant decline in raw cotton, but such depression Is of tenn porary character. The manufacturing trade will soon adjust itself to the low price of the staple, the exportation of man. ufactured goods will be larger, and the market for raw cotton will be stimulated Meanwhile the grower must bear -the bur den, but the crisis probably will pass sooner than expected
 America grows 70 per cent. of the worlds cotton crop, and year by year larger proportion of 1t is manufactured in this country, and in the south, near the cotton fields, have the spindles multiplied most rapidly. Such an increase in the cotton manufactories means a greater demand in America for American cotton the market for our goods will be enlarged and the price of cotton will be stimulated. It's market price will be fixed on this side of the Atlantic rather than in Liverpool and the grower will reap the benefit.
 Thus It appears a revolution in the in- dustries of growing and manufacturing cotton is imminent. There is promise of bright period of prosperity after the pres ent depression,