The times. [volume] (Richmond, Va.) 1890-1903, 1900-11-21
HON. HOKE SMITH
TALKS ON COTTON.
Addressed Convention of Southern
Growers in Macon, Ga.
MUST MAINTAIN SUPREMACY
The Speech Was Largely statistica
and Historical and Was We'll re-
ceircd Diversification Of
Crops Insisted On.
MUST MAINTAIN SUPREMACY
ny Associated Press.o

MACON, GA, Nov. 20.-rfe Southern
Interstate Cotton Growers Association
iasl.ch was formed in Macon last May,
had its first convention here to-day
President Jordan stated that the prime
object of the convention was to form al.
Interstate Bureau for the, collection and
distribution of statistical information re-
lating 10 the cotton business of the South.
and TO offset the over-estinating Of par
lies whom he believed irresponsible.
Hon. foke Smith, of Atlanta, was the
principal speaker Of the day His address
partook largely of the historical and sta-
disticaa and was well received.
DIR. Smith said in part:
While cotton to-day brings Ten cents
pound ii has only been three years since
the crop was selling at five cents per
pound. What are the elements which have
caused this variance in price, Recognize
ing the laws Of demand and supply, we
must see that the depreciation in the
price OF cotton has been due to a pro-
duction OF the staple in excess of the
demand for manufactured goods. A
knowledge of the supply OF cotton and
of the demand for cotton goods for con-
sumption will enable the producer to tell
at the time OF the year when cotton is
picked the price at which lint cotton
should sell. Another pause which has
facilitated the depreciation, of price at
tfle time the cotton left the hands of the
planter has been the unbusinesslike plan
of selling 1t.
DRUG THE MARKET
More than 20 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 - months. They need
the cotton as much in July as they do in
December. The plan CT selling has dis
regarded the time of consumption. IN
stead of handling the crop so that it would
be sold from month to month during the
year, as the mills required it for use, it
has been the practice of the planters in
the South TO rush the cotton on to the
market during a period limited at most
to Two months, forcing its purchase by
Spectators, rather than holding the crop
until the consumer or mill-owner came
after it.
II am thankful to say that east of the
Mississippi River during the present yenr
the planters have been Informed as to the
extent of the crop and as to the worlds
demand for their cotton Realizing that
1t was w5rth al least 10 cents a pound or
more, they have declined to sell it for
less. They have received 10 cents for
what they have sold
MAY BRING MORE
by the cooperation aof merchants and
the bankers they have been enabled so
soon the buyers succeed in depressing
the pr.ce 10 take their cotton off the
market, and as a result they to-day see
the price Of cotton going back to the
figures at which It sold during the month
oc September, and l have no doubt the
balance of the cotton crop thus cared FOR
by your farmers viii bring them o.sr 10
cents a pound This price. however. could
hardly have been realized had the farmers
raised l.Oi0.0e3 bales more Of cotton.
of
portance Which affect the price OF next
years cotton crop They are: How much
will the mills of the world consume IN
1892 How much lint cotton VIII the ball
AIMEE of the world produce for other than
domestic consum ptior in 1901? How much
Will we produce in the South in 100?
Continuing, Mr.. Smith said:
Fifty years have shown an Increased
demand for cotton goods, causing an IN
,,ren sed demand for lint cotton Of about
700 per cent While the next decade may
not show a proportfonate increased de-
uand. have no doubt that by the end OF
twenty-five years the manufactures OF
the world will consume over 100000 bales
Of cotton annually.
while the Southern planters should aim
ut receiving for his lint cotton its fun
market value. care must be taken that
he South shall maintain supremacy as the
cotton producing section of the world.
England. Russia AID Germany have de-
,oied and are devotins great attention as
nations to cotton culture. Ihe United
states. through the Agricultural Depart
nent at Washington. should give cotton
culture a full proportion of attention and
should furnish reliable Information Of the
progress which is being made abroad IN
his great American staple Accurate IN
formation should also be prepared by the
Agricultural Departments of the states,
which are engaged in producing INT cot