The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1901-02-16
SOME COTTON "FACTS AND
FIGURES"

Dy q circular letter from Ia. LES y 1T
: dins, of Memphis, on the prospects
of the cotton crop. We are in re-
ceipt of one of bis circular letters,
and as the Herald's comments cover
. our views, we will give the editorial
to our readers:
''The Herald's attention has been
invited to circular of ''facts and
| figures showing why the present cot
ton crop will not reach ten million
but more likely be around nine and a
half million bales" The circular is
the production of r. Des Jardlns,
Memphis. The tabulations of figures
read plausibly and they have been
strengthened by the falling off in re-
ceipts since the date of the circular /;
February 1st. But the author exag-
gerates the consequence of his con-
tention, even If it be proved correct.
He considers his theory of the size
OF the crop so important that it
'should be given all the publicity it
deserves by anyone interested in the
welfare OF the cotton planter. He
asks that postmasters and mer-
chants stick it up in their offices and
stores and that newspapers give
these views as much publicity as they
deserve"
1.-THE Herald is doubtful of the adj
visibility of and publicity of the
views of Mr.. Des Jardins. So con-
tradicted as it has been by expert
ence it is almost reflection upon
the good sense of the cotton planter
to sound a warning against the fol-
lowing shallow and misleading "bull"
deduction he extracts from his
figures:
What are the possibility of above
figures and statements? Liverpool |
last September recorded this legend on |
her blackboard: 71d for American
middling cotton Tor 10 cents of our
money! What will be the figures
next SEPTEMBER Who dare answer? |
New York only last week had 12a cents
for January delivery. What will be
the figures rext May, June. July.
August and September when the size
of this crop is fully realizedp The
holders of spo, cotton in the South
have it ia their power to get IL TO II
cents for the balance of this crop if
they demand it. And if they refuse to
sell for any less, they can get it. Cot
ton has sold for II to Ii cents in the
South for several years not so long
ago. This is not an unusual price. In
1879 the writer bought middling cot
on at 81 cents. and inside of sixty
lays the same cotton sold for 13 cents
From 1879 to 1890, except the year
1886, cotton in New York has sold
Irourd IL cents for the latter part of j
he season. In 1890 the price was u I
o 12S cents during the month of May. |
|une, July and August. Why not get l
2 cents todayP The Southern hold {
rs are ia much better position to- I
ay to hold their staple than ever be- L
ore. The rate of interest is about one $
alf what it was ten years ago, and t
lost of them do not need to borrow. S
very bale will be needed and wanted S
efore September l. and no matter i:
hat the prospect for the next crop d
ill be, as it is well known that SPIN S
ers have no stock on hand MY adj C
Ice to holders of spots is no, to sacri- 81
ce another bale at presen. low prices. a
ay no attention whatever to the self ii
lterested and biased utterances of j
,me cotton buyers. The demand for
'ots will increase as the price goes Sc
?, which is always the case, and You m
ill witness an unprecedented rush to m
'ver their short sales. III
"Thls kindly caution against self q
terested and biased utteranees of O
me cotton buyers" is presumed to OF
, entirely disinterested and unbias- M
er
Ia piece of pure philanthropy in ha
ct. But purity of purpose does N
It make the French gentleman i'm hr
une to error, though he evidently 70
ms to raise that presumption. He ne
not sufficiently comprehensive or ga
scriminating in his 4facts." What az
ye
e "concerned' bears of Liverpool of
d New York were made to pay for MI
cir September and January deliver OF
J is one thing; and what the mills wi
y for their supplies of raw cotton tn
another. With the former the cot an
D planter has very little concern NO
Is the mill price that he sells by. be-
Id that is limited by the cotton oil;
DDS market. When the raw mate -,
j rises above that, the mills quit en-
wing however short the crop.
is is factor of the case of which
circular In question takes no see
count. In illustration Iof this a :
int we cite the following explana- the
OF call for a meeting of "the so'
lthern Cotton Spinners' Associa-
n" at Charlotte, n. c., February lar
to arrange for a curtailment of POI
,duction: w.
'Curtailment," says DR.. J. H. Nc sal,
en-, president of the association, lis
med Imperative because it is impos- 7
e Tor manufacturer to work at 81 To,
rs cotton into goods and make An