The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1901-03-30
The Recent Panic in Cotton.

tdlDS COotiy put uoCiu', iSooOd W.
the merchants and farmers of the
South. In the long annals of the
commodity, many a similar instance
NAV be found; but the latest debacle
presents certain peculiar features
which are worthy of general atten-
ton. Man being what he is, VIC
torious army will always be open'to
surprise. A mass of human beings
acquires terrific momentum, in at
tack and retreat alike. Despite the
general advance of education, moral
courage retains its premium over
physical force.
The facts of the instant case lie
within an extremely narrow compass.
The season began with reserves,
visible and invisible. drown down
to the point of actual famine, and it
was, therefore, entirely clear that
America would be called upon to
furnish an abundant crop. Texas
responded to the expectation, but
the outturn was different through
out the remainder of the Belt. The
deficit in the yield was known with
reasonable precision before the
movement had fairly begun, and
the South made a successful fight
for values which should express the
salient data. Prices steadily rose,
until the quotations of the day be-
gan with the figure 9. The bulk
of the crop was moved on this
thoroughly remunerative basis. AT
the eleventh hour, when the rem
nants alone had to be handled, the
gospel of dispair began to be
preached by fierce missionaries, do
nestle and foreign. Holders of
spots turned deaf ears to the proph-
cts for awhile; but the propaganda
finally told. The avalanche was
seen TO move, and every belated bull
launched his toboggan. The down
ward ride was exciting and destruc-
tive, to the very limit of endurance.
As the maddened occupants of the
fraji conveyances spread down the
incline. the money-bags flew open,
and the coin was gathered up by
the bears who had calmly looked on
from afar. In the light of this
tragic experience, one may we'll
paraphrase ''Punch's" advice to the
people about to marry, and say:
"W hen you make up your mind to
enjoy a toboggan-ride-don't."
OF course there is no use in cry.
ing over milk already spilled, but
the disaster should bring saner
into vogue. AS regards
the crop of 1901, the need of wis.
dom is uncommonly urgent, since
the cost of production will be high |
and display of the auctioD-fag is,
therefore, bound to be disastrous.
With pork at SIG and corn at Al
cents IN Chicago, the average mer-
chant and farmer of this section is
sure to labor under the impression
that his field hands are taking their
ease at the Waldarf- Astoria. 1t has
been suggested that the "colored
brother" who labors in the cotton
fields be made to eat pate de foie
yras, in order that the cost of pro-
iuction may be kept down. An
element of poignant truth unfort-
1pately turks beneath the surface of
The absurd suggestion. The result
Of the present years planting will
De tragic, if spasm of fear should
seize upon the farmer and his
friends, while big crop is in mo-
ion. 1t Is hardly too much to say
hat the seeds of general bankruptcy
would be sown.
A .philosophic grasp of the facts
hould, therefore be gained in adj
rance. The fascination of ghost
tories is proverbial, but no solid
,rofit has yet ever been derived
ROM narratives which appeal to the
morbid anatomy of human nature
lone. The simple truth is that the
south has never been so we'll equip
'ed TO struggle for its own, but the
oldier's weapons avail him nothing,
towards heart beats beneath
is tunic. II is said that when
ulius Caesar met a standard bearer
n mad flight from the field of bat
lie, he simply turned the fugitive &
ound and said "You have mistaken
be direction of the enemy" The &
pirit of the immortal Roman should
e abroad in this land to-day, and t
throughout the twelve-month to
ONE. Heaven helps him who helps !.
imself. Without this unshakable
slf-reliance, the producers of cot
IN will surely return to the serfdom s
nder which they groaned, in the G
ark days of '99. The path of safe 7
7 lies between the extremes of un :
,asoning optimism and blind dis
air. "In the day of prosperity be 4
'yful, but in the day of adversely a
,nsider-" The South is face to O
ice with crises of fate which may q
= easily met, but which NAV not :.
2 averted. The "balm in Gilead"
ust needs be of home manufacture. 8
he spinners habitual feeling for Il
re farmer is perfectly described in I,
ydney Smiths quaint witicism Il
You find people ready enough to !,
} the Samaritan-wIthout the oil '
I'd twopence." The .'little farm. 81
=" will find that the chance of as. a
stance from the outside is mill. "