Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1901-12-11
THE COTTON SITUATION.
Little Reason to Doubt Accuracy o.
Government Report.

Government Report.
There is great rejoicing in the south
over the rise in cotton which follow
ed so quick and strong last Tuesday
on the government report that fell so
far short Of all the preceding estimates
Of the crop. even the most conserva-
tive.
Cotton opened a little off from
yesterday, but is still we'll above the
prices that ruled before the govern
ment's report gave it such a strong
upward boost.
The confidence in the national agri-
cultural department, as the best au-
thority on the size Of the cotton crop
in the early stages of the season, has
been so we'll established by the ex-
perience Of the last few years that its
report last Tuesday had its logical ef-
feet The New Orleans Picayune, Of
yesterday, has this to say of the situa-
ton and the bearing Of the govern
ment report upon 1t:
"Of course, there will be many who
will be disposed to be skeptical as to
the bureaus small estimate, claiming
that 1t Is out of all reason, merely be-
cause it was not looked for, but, for
all that, the estimate is sure to exert
tremendous influence because the gov
ernment has been nearer correct In re-
cent years than any other authority,
and, moreover, it is we'll known that
the agricultural department has un-
commonly good facilities for gathering
information: facilities which 1t would
be impossible for any private crop au-
thority to command. Thus, for In
stance, the bureau announced that, in
addition to it's regular agents 1t had
received special reports from $4,000
ginners and 5000 bankers throughout
the cotton belt.
1.-THE mere fact that some people Will
ridicule the bureaus estimate as alb
surd, merely because it does not har-
monize with the general expectation
should not be permitted to carry
weight with thinking people. 1t must
be remembered that last seasons bu-
reau estimate was very much larger
than the popular idea, and the same
criticisms were then made that we
hear now: yet the sequel proved that
the bureau was nearer the mark than
any other prominent authority. 1t is
equally possible that it may be right
against this year. The weight Of pres
tige and past achievement is on its
side.
SHOULD the foreign markets place
confidence in the bureaus estimate,
and they are disposed to hold the bu-
reau in high esteem. further sharp
advance may be expected. The bu-
reau estimate Of 9,674,0OO bales is a
long way short Of the supply Of 1,OOO,-
OOO which has been counted on abroad.
In expectation Of such a supply, for
eign spinners have been following a
hand-to-hand policy, and have no sur
plus stocks of consequence Once they
are convinced that the crop Is not
more than 100000 bales, the demand
for cotton Is likely to be very brisk,
and there is no telling just how high
prices may go.
"In the light Of the bureaus esti-
mate the balance Of the south's cotton
crop ought to be worth more money
than sellers generally were willing to
take for it a few days ago. A crop
of 9,674,0O0 bales means a veritable
cotton famine during the coming sum-
mer. The trade has the experience Of
two summers ago as an object lesson
of what a cotton famine means. Ger
tainly whatever the outcome, the bu-
reau's estimate can bring nothing but
good results to the south's cotton in
terests."
This is an entirely reasonable view.
The position Of cotton has been
strengthened immensely during the
present week, and the best opinion
seems to be that it will grow even
stronger.-Atlanta Journal.