The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1900-08-22
THE PRICE OF COTTON.


cultural editor Of the Journal. several
mou.hs ego predicted that cotton
would bring ten oents Q pound this
fall, there was skepticism in the
minds Of many who bad not given
the subject study, and even in the
minds of some who had A number
Of farmers and fertilizer concerns sold
cotton for fall delivery at about eight
cents
Now it transpires that there is
more faith in the stsple, and the talk
Of ten cents hes become common
among newspapers aud people who
have just walked up to the situation.
No one can predict with absolute
certainty what the market will be,
but the general opinion ss to the fall
price Of cotton 10 fer above that of
two or three months ego.
There 10 % impression abroad thta
the demand for cotton will be serious
" curtailed by the war in China
This popular impression calculated
to effect the price Of the staple. but
in we'll Informed circles il will not
have much effect, for general reasons,
among which are the following:
The amount Of rev cotton pur
chased BY China 10 1899 was $4,000
bales. but her purchases of cotton
goods snounted to $73.57l.97l. The
amount Of raw cotton in these goods,
added to that taken 10 the raw state,
will make about 600. 900 bales of 500
pounds.
II oil Of this trade we're cut off by
tho war this year it would be Offset
twice over by the failure of the crop
10 India.
IL 10 estimsted sbst tho cotton crop
OF lodia this year will DO about ooe
fourth Of tho average for the past Eve
years. Tbas average Was about l ,900..
00O bales Of 500 pouuds each This
year the of6cial estimate Of the director
general OF statistics for Iodia 10 about
500 600 bales Of 500 pounds each.
This leaves q shortage Of 1,400, 900
bales 10 Iodia. II the demsnd for cot
ton aud cotton goods in' China we're
wholly out of, the shortage of the crop
10 Iodia would offses it and still leave Q
shortage Of 800. 900 bales.
1t 10 not likely tha. toe Chinese
demand will bo entirely cut of While
var is progressing 10 the province OF
Pc Chi Ii. containing the cities Of
Pskiu and Tien Tsin. other provinces
With the ports of Hong Kong, Canton
and Shanghai are open to trade.
The bulk Of the imports goes through
Roog Kong. aod there We have heard
OF 90 check upon trade. 1t is likely.
therefore. that most Of the consuu ptiou
OF cotton goods 10 Chios will bs 70.
rortsd the coming year. II the allied
powers speedily reduce tbe insurreo-
sioo. which has been called "au i'm
p,rial rios." ooO6oed mostly to tho pro
vince which includes the capital and
Tiso Tsin. aod the progressive youog
emperor is placed on tho throne, the
entire country will be opened up and
the foreign trade will be immensely
increased. The tendency 10 that
direction is shown BY the fac: tba,
it increased Is per cent 10 the last year
reported. eoding With 1899.
The chances are that after tho cur.
'ailmens Of demand. il auy. due to the
var 10 China, is deducted, The orop
failure 10 Indie will have . shor,sge Of
over . million bales, 90 far % the
continent Of Asia is concerned. With
cosseo consumption Increasing through.
out the oivilissd world. aud 10 mauy
parts which is hsrdly civilized. there
will DO . large relative shortage.
tn this country tho eoeditiou OF the
growing crop wss reported BY tho gov
sromeot bureau ss IS, which 10 lower
shsa the coalition OF the crop on Aug
lss for several years The crop prom
ice OF Two or three weeks ego bss DO.
eoesioued sud oosimsly drou.h follow
ieg . VET sessoo hes done much damaae
to The cotton 10 some sections.
Well Informed opinion oow looks for
q. crop OF about 10. $50. 900 10 this
eouotry aud . crop 10 the rest of The
world far below that of recent years
Under those oiroumstao ces, With pros.
porous times and . high level Of
purchasing power among the worlds
workers. the price ought to be good -
Atlanta Journal.