The times. [volume] (Richmond, Va.) 1890-1903, 1900-09-18
THE COTTON INDUSTRY.

we said some time ago that ten-cent
cotton would not be an unmiSed blessing
10 the South. il it should retard the cot
ten mill industry in that section The
Kaleigh Morning Post takes this as
text and makes some sensible observa-
lions concerning the cotton Industry. It
we'll says that there can be no justifica-;
ton in stopping the mill building in the
South so long as we manufa cture less
than 20 per cent. of the raw material we
produce, but points out that two diff
cult:es loom up in the future which will
have to be reckoned with.
1.-The first of these it goes on, lis the
greater consumption of the raw material
at home. the greater the demand VIII De
from other countries This will nave a
tendency to keep up the price OF the raw
material. and right here IS the danger
If The raw material Is high, consumption
of manufactured goods will be more or
less curtailsd. With 1.-The mills now IN
existence, the capacity for production is
beyond the normal demand even at The
present low prices. As mills increase,
It matters not where. the capacity for
supplying manufactures also Increases.
mus adding to the surplus beyond demand
for consumption. The South absorhlnS
the manufacturing, the foreign mills Will
he compelled 20 resort to other countries
for their raw cotton, and this VIII sti1nu-
late its cultivation in. India, Egypt. Mex
i.n and other tropical and semi-tropical
countries adapted to its growth. We thus
stimulate competition in manufacturing
and cultivation, and. with the constantly
improving machinery. forcing az output
OF both beyond the requirements Of the
world, certainly at reasonable pro1its.
For many years the cotton planters OF
tbe snuth tried to devise some means by
which they could reduce The quantity OIL
raw cotton made and so put up tne pfice.
Mr.. d. A Tonpl1ins told them, however
that this would be suicidal policy; that II
they should succeed in carrying out lhear
object they would simply invite compe-
tit.on in the cultivation of cotton IN f1sse'
and other foreign countries. ana '''a.
| tbe end of such competition would neces-
sarilv be disastrous TO the South. MI.
Tonopkins said that the true solution OF
| The nroi,le,1, was for the South to make
an abundance Of cheap cotton, enough
for this Country and for the foreign manu-
| sact1rers. and then for the South to go
| into the manufacturing business ana con-
vert a large proportion OF the ra" ma
ter,al into the finished product II thls
| course he pursuei the South will con-
..nue to have a monopoly in producing
r,w cotton. and if the Southern planters
nil, live nm to their opportunities and
grow as much cotton as the world de-
mands. there will be no danger OF COM
netition in foreign lands and the cotton
manufacturing Industry in the South Wiz
continue to flourish as ii grows ana
grow as it flourishes
Some people are saying that ule day
of competition is past, but there never
was such sharp competition as there Is
TODAY. This competition has extended
| however, far beyond competition between
individuals. 1t is competition between ma
| items and if the South will, as 1T is capaoie
| of doing. produce raw cotton in abundance
| cheaper than any otfler nation can pro-
;1uee If. and manufacture it into cioth
as it is also abundantly able to CO cheap
or than any other nation. or any sec
| t,on of the United States can do, the cot
ton ,ndnstrv In the South viii make Us
rich and prosperous.