The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1899-08-30
Sc FOR COTTON.
THAT is THE ESTIMATE
OF NEW YORK FIRM.
The Crop Twenty Per Cent Shorter
Than That of Last Year.

The Columbia Record has received
the following letter from New York
cotton firm:
Editor Record We address you
as editor of newspaper whose in
terests are naturally and properly
with the South and its most import.
ant product and source of revenue
and wealth, namely, the cotton crop:
"For the past two years nearly
every section of the United States
has been enjoying the most remarka,
bic prosperity. The producer of
cotton and the section of which be
is a citizen have been almost the
only exceptions to this statement.
The price of cotton for two years
has not exceeded the cost of produc
ton, if, indeed, it has realized that,
while iron, copper, wheat, wool. dry
goods and nearly every other staple
commodity have advanced, notwith.
standing an increased supply and a
probably lowered figure in the cost
of production.
"The reason for this is not far to
seek. The cotton crop is the one
crop of American production Of
which probably IS ?er cent. is con-
sumed abroad. The great bulk Of it
is marketed within three months,
and must be sold for cash To Ger
tain extent, therefore, the sellers are
at the financial mercy of the buyers,
and this advantage is one that is
naturally used to the utmost. II,
when the crop commences to move,
the impression can be created tha!
the supply is likely to exceed the de-
mand cotton must decline Recently
the closest observers of the crop de.
yelopment came to the conclusion
that the promises of this years pro-
duction were not brilliant Cotton
commenced to advance sharply in
price and it looked as if, for the first
time IN three years, the Southern
farmer was going to realize a fair
value for his product.
"This was the situation On the 18th
OF August. when Mr. Henry NJ
Neill. of New Orleans, an English
man by birth, aud the representative
in New Orleans of a London firm,
whose business it is to buy cotton for
foreign spinners, issued circular in
which was widely promulgated both
by cable and telegraph and was cal
culated to create the impression that
the crop which is about to be mark
eted promised TO be as large if not
larger than any previous crop. The
effect of this has been to lead foreign
buyers to believe that they could, by
holding off, secure the cotton they
have to Duy at practically their own
price. We have not believed that
Mr. Neill's predictions were justified,
and with a view of arriving at a
sounder conclusion we have, during
the past few days, been telegraphiDg
to every section of the South, asking
our various friends there to report to
us by telegraph the condition of the
crop in their locality. The result OF
these inquiries we enclose to you
"Unless the people who have sent
US these kilograms are guilty of the
grossest misrepresentation the cotton
crop cannot be large one, and there
is no reason why the Southern pro
ducer should be stampeded through
misrepresentation into selling at
loss.
I'VE therefore ask you if, in your
opinion, it is legitiuaseiy your function
as journalist TO use the columns of
your paper to correctly inform your
constituency as to the real outlook and
keep shera from misleading themselves
to their Own financial loss? The price
of maofacsured cotton goode has COO
tioually advanced during the pas: year
Sonoers CAP pay, SO we are lofoEned,
eight cents per pound tor cottoo' ano
vet make a profit 10 the sale of their
product, and we are convinced that If
Southern Gotten holders can be brought
face to face with a realization of the
strength of their position they can
command at least share of the coun-
try's prosperity 10 which they have not
previously been participants.
1--WE would especially request 10
writing ,ou this letter that you DO not
use our name. The Information that
we give you. coming from the various
parties who have sent US the telegrams.
YOU are at liberty to use, together With
their names. bu. there are those who
may niscouceive our purpose 10 thus
addressing you and thiok thai ia SO
doing We may 6e seeking some self
advertisement. Such is not the case
To consid derable exten. our business
and interests are With the South, and
10 broad way anything that faVorsbly
,Ga,te that section is to oar advantage,