The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-18
THE LESSON OF 1899.

Atlanta Constitution.
There is one sentence in the letter of
Senator McLaurin to the cotton spin
ners of South Carolina which deserves
to be engraved upon the hearts of our
farmers as epitomizing the lesson of
1899, when he says that the price of
cotton this year was fixed by the local
cotton mills, instead of by New York
or Liverpool.
This declaration throws flood of
light upon situation which has been
clouded in darkness heretofore, and
points out an Importance for cotton
mills in the field which has not been
thought of heretofore and necessarily
leads to the conclusion that partial
movement which has accomplished so
much must be revolutionary in the re-
suit which its completion must bring
about. A short review of the facts
will demonstrate the idea in mind
The substitution of fibrous growth
for wool has been a comparatively new
effort, brought to its first general APP
pllcation by the raising of cotton in the
Southern States of the Union. The
large planter was the result, raising the
raw product for shipment abroad, where
alone existed the skill competent for it's
manufacture. Later New England en-
tered the field of manufacture, but the
Southern planter remained a sitting pro-
Queer, satisfied with the princely profits
which he had made. From this period
to that of the small planter after the
war the story was still the same, a
more or less well-paid producer on the
one side who had to depend upon an in
termediary market TO introduce him to
the spinner ON the other. The profits
of the producer grew less and less, I'M
til the staple did not pay the price of it's
raising
In the meantime the manufacture Of
cotton goods, in Il desultory way, began
in the South The mills made some
money, but it was claimed that they did
so under the protecting wing of a mar
ket created by old and New England,
and the idea was laughed at that they
could ever play an important part in
the trade. Even when the Southern
cotton mills grew numerous and their
owners had established their right to
consideration, the most that was claim
ed for them was that it opened new
field for the South, but no idea was paid
to any possible advantage to the farmer,
save II demand for food supplies. There
would be princely cotton spinners TO
take the place of the bygone baronial
cotton planters. Meantime, the price Of
cotton would be fixed in New York and
Liverpool as heretofore.
As stated by Senator McLaurin. the
selling season of 1899 has brought about
a elimination remarkable and revoll-
ti0naTy in which the uIice of cotton has
been fixed by the necessities of the cottCr
miller at home, and the Englishman anC
the German have been forced to follow
suit. or to wait a market in which they
might be badly worsted. The first move
in the usual game was the Neill circular
of August 18th, in which IL fabulous croI
was predicted, and under the Influence
iof which the product was to BIC marketed
at ) cents pound, leaving the immense
margin of profit created by extraordinary
orders to 20 into the pockets of the mill
ers. The situatiOm was a critical one
indeed. The planters had suffered frcn
the lnIinous prices of three previous
years: it was we'll known that cotton COS
between 5 and 6 cents Il pound i'm prCduc
ton, and that this price even would no
leave a shadow Of profit for the pro
Queer. The markets of the work
| had gone upwards IRON, coal, lumbea
and every other product had jumpet
from % to 80 and even 100 per cent.
and here was the cotton producer CON
demned to another year of disastrou
prices. 1t was in this emergency, II
full knowledge of the fortified strength
of the interests. that The Constitu