Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1899-12-23

was worth, or rather, had greater
purchasing power, than during 1898
and the few years Immediately follow
ing. Without attempting to fix the
exact time at which prices were the
lowest, and consequently the purchas-
ing power of the dollar the highest, l
will call 1898 the climax, and then
ask those who remember, to agree with
me in the statement that Immediately
thereafter there began gradual i'm
provement, almost imperceptible at
first but steadily more marked, until
now he who runs may read. The
abnormally high price of gold about
this period stimulated the greatest,
most persistent and energetic search
for this metal that has ever been
known, and the statististics from that
year to this will show steady in
crease in the production, year after
year, up until the breaking out of the
Trausvaal war, with last years supply
almost twice as great as that of any
other one year in all the history of the
past. And directly in proportion as
one years supply has increased over
that of the proceeding year, there has
been a stifeping in the price of all
kinds of speculative secureties. With
in the past few months the improve
ment began to affect iron, and then
other commodities, one after another,
and within the past few weeks, as all
readers of the papers have noticed, it
has begun 10 affect the price of labor,
always the first to suffer in seasons of
depression and the last to benefit in
seasons of expansion. But still the
long promised prosperity is here, and
there is every reason to believe that,
barring temporary setbacks from oc-
casional wild speculation, it is here to
stay, at least for period of half
dozen years or more.
AS yet, cotton has not felt the effect
of this monetary expansion. The price
right now for 5000, 1000 bale crop, is
no greater than it is fairly entitled to
be, if the crop were 100000 bales.
For instance, the margin between the
raw material and the manufactured
product has never been greater in the
history of cotton growing and cotton
manufacture. The producer of cotton
can now buy no more yards of cotton
goods With the same number of pounds
of 7 cents cotton, than he could buy
with 5 cents cotton year ago. In
the margin between the price of the
raw material and the manufactured
product there is still room for sub.
stantial advance on the amount paid
10 the producer, and on the amount
paid to the operative without reducing
the profit of the manufacturer below
legitimate per cent. But these mat
ters are in process of regulation, and
the best possible way for all concerned
is to let them regulate themselves.
For instance, there is little reason to
doubt that the principal influence now
in keeping down the price of cotton IS
the difference of opinion between the
American producers and factors and
European spinners as to the size Of the
crop. The European spinners persist
in believing Neills II 100000 bale esti
mate, and American producers aud
factors are persuaded that the crop is
not over 100000 bales. AS evidence
of this situation, the total visible sup.
ply of cotton in Great Britain, where
most of our exports 60, is today little
over 100000 bales against 1,l63,0 900
bales at the same period last year.
There is almost dead certainty that
Europe is badly deceived, and as soon
as the European spinners realize the
fact, the price of cotton will rise to
what it ought to be iu comparison with
other things on 100000 bale basis.
With, labor the situation is nearly The
same, with the matter of regulation in
daily process. Every man who now
wants to work can get work to do.
Indeed, the work seems TO be growing
out of proportion to the laborers, and
competition among employers Is be
coming stronger every day. All the
big mills are hard put in getting the
kind of labor they want and as much
of it. 1t is because the labor is doing
better, or thinking it is doing better
elsewhere. This competition will bring
about an advance in the wages of the
operatives, and it is the only thing that
will bring it about on basis satisfac
tory to the employer or employed.
And the farmer, where does he come
in &? He has been promised so much
aud deceived so often, that he is no
longer disposed to worry about the
promised downpour in advance. But
if there is anything substantial in this
prosperity boom, the farmer will GER
taiuly get his share. Already the
York county farmer, with his flourish
ing fields of wheat, has laid the best
possible foundation for the good things
that are coming. He is now in the
best possible position to plant big crops
of corn and cotton. No matter wheth-
er there is any money next year or
not, corn is bound to be worth as much
as it eyer was; and if the prosperity
is really on, as l believe it is, then no