The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-09-05
IS EIGHT CENT COTTON IN SIGHT?


ducts of the farm. Iron has gone up
nearly one hundred per cent and tobac-
co l,us gone down at least twenty-five
per cent, tin plate has gone up nearly pr
ton is down to price that searceiy
pays the cost OF production 1t is these
two contrasts that make the farmer feel
that in the prosperity that has come to
manufacturing and other interests he IS,
il not Disseminated against, denied the
increase in the price of his products that
has come to others. A few weeks ago
cotton and tobacco were quoted at m1t,h
better prices than they bring when the
faltner puts them on the market.
The Atlanta Constitution seems to
think that eight cent cotton is III sight
and argues after this fashion:
1.-THE general advance i'm the price Of
all products except cotton, suggests that
this one staple alone cannot, in the
very nature of Things, fail to- be benc-
fitted by the general advance.
'aIhis question: is not merely asked
because it is our desire that such price
should be reached. but because OF as
surances which we have that the spin
ners, through whose hands 1t has to
go i'm order to reach the world, could
afford to pay that price for il and still
make good profit. The natural market
price for any raw material is that
LII
handling in its manufactured state. That
this condition has been reached in re-
gard to cotton, is admitted by those
best qualified to know, and hence the
time has come for the farmer to get
his dividend of the public surplus.
If Scent cotton should materialize. it
will set in motion the greatest business
revival we have experienced in years.
The strongest whip the hears have held
over the cotton farmers was that of
debt. If our merchants and bankers will
but stand in with our farmers during
the next few months, Il period Of great
prosperity will be assured to the South
The Constitution is correct in saying
that the manufacturers of cotton goods
could pay eight cents per pound for cct
ton ''and stiqH make good profit Upon
the basis of the Golden Rule ''the time
has come for the farmer to get his divil
end of the public surplus but the Col
den Rule does not always obtain in
business. Men buy as cheaply as they
can. If manufacturers can buy cotton
at five cents, they will not pay more even
though they feel that the farmer ought
to get more for his crop. Ii farmers
could buy glano at price below the
cost of production, they would do it.
1t is human nature for farmers, manu-
facturers and others to buy rs cheaPly
as they can. In am age Of close conlpeti-
tom the manufacturer vino pays Elore
for his machinery or cotton IL az a dis
advantage with his competitor, and it il
not to be expected that The individual
manufacturer will pay an individual far
mer eight cents for his cotton because it
is worth that price when he can get
it at five cents. The remedy must b.
sought in a general way wh;tii will af-
feet alike all buyers AMI all producers Of
the staple. While there is no organized
trust to keep down the price cf cotton.
the Influences that viii be benefited by
cheap cotton are more powerful than the
influences that the agricultural popula-
ton can exert. The manufacturers here
and in Europe are interested in getting
cheap cotton, the farmer il dear cotton.
The manufacturers has more weight on
the scales. and down gees The price i'll
spite of the fact that the cotton crop
this year will be much smaller than WAS
supposed a few months ago. We confess
that we DO not see any hope that the
farmer will receive eight CENTS for his
cotton this year, and we fca. he will
have TO sell it much below that figure.
AS to tobacco, the news from Louis
burg. Wilson, Goldsboro, kanstoa,
Rocky Mount, Tarboio, Dunn, Smith
field, Greenville and all the eastern to
bacco markets is that the prize has
fallen off very much. The tobacco
trust will get the present crop at a very
low figure reilnbumsing themselves for all
the outlay they have made in buying up
rival concerns and substituting the Jap
anese government. And the farmer is
the man who suffers.