The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1900-03-13
A NOTE OF WARMING.
By C.. n. JORDAN.

After they have hammered down prices
the basis OF big crcp in sight and
have gotten control or the bulk OF the
cotton. then presto change. they are
bulls and begin fighting for higher prices
In the meantime the farmer OF moderate
means has been compelled. by force OF
circumstances. to sell his crop and none
but the independent and wealthy cotton
buyers share in the profits that come
from an advance in the price This has
been largely true this season. and plans
are now being laid for the same thing
next season.
WHO INSPIRED THE Pr.ANe
know that the article 10 which have
reference was inspired by and published
AT the instance OF large cotton firm, who
would like to see a large crop of cotton
planted. as their money is made in hand
ling the staple after it is made. II the
cotton growers of the South were In po-
sition 10 take advantage of their PROPOSE
tiOn and sell TO them on basis OF eight
cents for future delivery the plan would
be a good one. But. a matter of fact
this is we'll known to be impossible. be-
cause there are open restrictions thrown
around the provisions of these contracts
for future delivery which make the plan
impossible 10 large majority of cotton
raisers. The principal objections are put
| ting up margins and making contracts
only with such farmers as are fully able
| TO carry out their contracts, or RESPONSE
| bic for any loss resulting from a failure
| TO deliver every bale promised
Aside from this. II is openly stated that
the price OF cents, now offered for
| October cotton, is believed to be the min
| imum price, and naturally nine -tenths of
| the farmers would refuse TO sell on such
! a basis. believing that he could get more
| by holding back and taking the chances.
| SO that aside from the guano people
| and some others who handle cotton in
large lots after it is produced these con
tracts for future delivery will not be en-
| tered into TO any extent by the actual
producer. But the mere fact that the
offer has been made at s cents per pound
! Tor September and October cotton will
| stimulate the planters to increase the
| acreage all over the South and the guano
! trust Will be able 10 sell more goods
| than they can manufacture at a figure
greatly in excess of ruling prices hereto
| fore and a a much larger net profit. The
big cotton buyers and the guano trust will
smile over the immense success of
simple plan which worked to their inter-
est nicely, and (which they en-
abled to circulate so widely through the
medium Of large daily newspaper.
MUST THINK AND ACT.
Each individual farmer must think and
act for the best interest OF himself and
| family. If he believes that he can con
tinue to disregard raising his home sup
plies and, by an extensive acreage plant
ed in cotton, make money at such prices
as have prevailed for every large crop
| of cotton grown in the past few years.
then he must depend upon experience
alone for his teacher But for those who
| are already planning to consider their
selfsustaining food crops first and the
cotton acreage second would fully urge
not to vary one iota from a system OF
farming which will keep them indepen-
dent no matter what the future price
of cotton high low. ] would advise
them not TO be led into the commttal OF
an error by listening to plans and pro-
| positions which are only intended TO ex-
cite the cotton raiser and be the ulti-
mate means of increasing largely the cot
| ton crop next fall. which must be sacri-
| feed at q low price TO the producer II
any contracts are entered into with these
/ large cotton buyers, either directly in
/ directly through merchants the buyers
protect themselves against loss by hedg
! ing in the New York market, and. IL the
prices goes down they are protected II II
I advances, then they are so much ahead.
/ What they want is big cotton crop. no
matter what the price next fall. II our
people do not stand squareIy by their own
interests, but fall into the snare set. an
/ enormous crop will be made. the bulk OF
! which will be sacrificed TO buyers who.
while ''bulling' the market now. will be
| bearing the market next October. The
warning has been given. it remains to be
seen whether not the Southern cotton
producer will continue to allow himself
to be controlled TO meet the wishes OF
| the big cotton buyers and guano trust.
| c. II. JORDAN.