Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1900-11-24

it has only been three years since the
crop was selling at cents a pound.
What are the elements which have
caused this variance in price? The
three natural rivals Of cotton have had
but little effect, because at 10 cents a
pound for lint cotton, wool, flax and
silk cannot be produced to make sue
cessful competition. Recognizing the
laws Of demand and supply, we must
see that the depreciation In the prices
Of cotton has been due to reduction
Of the staple in excess of the demand
for manufactured goods. A knowledge
of the supply Of cotton, and Of the de-
mand for cotton goods for consumption
will enable the producer to tell at the
time of the year when cotton Is picked
the price at which lint cotton should
I SELL. Another cause which has facilita-
ted the depreciation of prices at the
time the cotton left the hands Of the
planter has been the unbusinesslike
plan Of selling cotton.
more than 70 per cent. Of the cotton
which is used in the great cotton mills
of the world is raised in our section.
The mills run during twelve months.
They need the cotton as much In July
as they do in December. The plan Of
selling has disregarded the time Of con-
sumption. Instead Of handling the
crop so that it would be sold from
month to month during the year, as the
mills required it for use, 1t has been
the practice Of the planters IN the
South to rush their cotton on the mar
ket during a limited period of two
months, forcing its purchase by specu-
lators, rather than holding the crop
until the consumer or mill owner came
after it.
"I am thankful to say that east Of
the Mississippi river, during the present
year, the planters have been Informed
as to the extent Of the crop and as TO
the worlds demand for their cotton.
Realizing that it was worth at least 10
cents pound or more, they have de-
clined to sell it for less. They have re-
ceived 10 cents for what they have sold.
"By the cooperation Of the mer-
chants and the bankers they have been
enabled 80 soon as the buyers succeed.
ed in depressing the price, to take their
cotton Off the market, and as result
they today see the price Of cotton going
back to the figures at which 1t sold dur
ing the month of September, and I
have no doubt the balance Of the cotton
crop thus cared for by our farmers will
bring them over 10 cents pound. This
price, however, could hardly have been
realized had the farmers raised 1,0O0,-
900 bales more Of cotton. Then with
surplus of cotton in sight the buyers
might have afforded to wait until the
sellers were compelled to dispose Of the
crop, and when the supply Of cotton,
whether raised from foreign fields or
from our own, exceeds the volume
which the mills can manufacture, or
exceeds the volume, when manufac-
tured, the mills can sell, then depre-
citation Of price must necessarily fol-
low, and our planters will find that
they have decreased their income by
increasing their labors, and that they
have received q less return for large
amount Of cotton than they would have
received had the crop been much
smaller.
"There are, therefore, three ques-
tions Of vital Importance which affect
the price Of next years cotton crop.
They are, How much will the mills Of
the world consume in 1902? How much
lint cotton will the balance Of the world
produce for other domestic consump-
ton In 1901? How much will we pro-
duce in the South in 1902"
Mr.. Smith took up the history Of cot
ton culture and discussed it in an In
+teresting way. .
In 1862, representatives Of 35 coun-
tries met to discuss measures by which
the loss Of the American crop could De
supplied, and a great stimulus was
given to cotton culture in India, Egypt,
Africa and Brazil. In two years the
supplies from these four countries was
greatly increased, but soon after the
war the South regained control OF the
market.
India, he said, is the largest producer
Of cotton next to the Southern states.
Her crop in 1899 amounted to 100000
bales, while that Of Egypt was $4,000
bales. Since $780, Russia has given at
tention to the cultivation Of cotton IN
Turkestan from American seed, and the
crop has reached 100000 bales. In 1895
Japan produced $4,000 bales. In 1895
Brazil raised 300, 900 bales, and exported
1900 It Is estimated that the lands
of Brazil could produce 100000 bales
annually. China exports a small
amount Of cotton to japan.
Mr.. Smith argued that climatic con-
ditions give the Southern states an ad-
vantage over other countries in the
nroduction of cotton, but called atten-