The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-09-16
The Cotton Situation.
EAltnr Of rhe POST.

70 the Editor OF The Post.
COrsIcann. Texas. September i0,-ln re-
viewing president-' Iiester's annual re-
port OF the American cotton crops COW
erlng the past three seasons, we lind a
total production Of al,0a3,S'S bales of
American cotton Mr.. Hester places the
worlds consumption for the same period
at 3i,015OO0 bales American, showing
that consumption has exceeded production
during the past three seasons s2l iG2 bales.
The average production for the past three
seasons has been lO3G4,Gl3 bales The
annual average consumption for the same
period has been 1O,G3s.OO0 bales showing
a yearly deficit of 40 1856 bales of Ancri-
can cotton.
AIr. Thomas Ellison, most eminent
English authority, estimates the entire
European mill stocks of all kinds of cot
tom at $4,000 bales ON September /, 1901.
The European cotton mills consume
100000 bales all kinds Of cotton annu-
ally. hence their daily consumption ot
2o,oVO bales gives European mills a supply
for twenty-seycn days only, at the close
Of the season August 81, 1901.
President Hester In his annual report
ntimutCs that bad political conditions In
China South Africa aud the East Indies
curtailcd the consumption OF American
cotton not less than 100000 bales during
the past season. The Chinese emperor
Emperor OF Germany by doing the "kow-
Tow according 70 the civilized usage,
peace with the Orient Is now assured.
Antcdating the Boxer Disturbances the
Chinese Empire imported $14uOO,0Oo of cot
ton fabrics annually. During the past
season lmp0rtNtiOns have been greatly re-
dnced resulting in depleted stocks OF
goods throughout the empire. The de
pleted stocks Of cotton goods in China
will be restored, and we may confidently eX-
pcct to see the Chinese empire import
SGO,OOOOuO worth of cotton goods during
the next year With normal trade con-
ditlonS continuing throughout the world.
the minimum consumption Of American
cotton Will equal the consumption Of two
years ago, when the world manufactured
lO.UgJ.COU bales Of American cotton.
The surplus cotton of the would outside
of the very small mill stocks, consists of
''linters,' gin scraps, 'pickngs' and
"rots'' that dnd no classification in the
cotton marts Of the world, This refuse
of many years accommodation has conceu-
tratcd at New York, Liverpool England,
and other great cotton ports and is used
rs stink pot" to hammer down the
price of spinning or commercial cotton
now IN the farmers hands. The holders
Of this unspinabc rcsduum are clumor-
ing vigorously for parity between spots
and futures, hoping thereby to conceal the
true statistical position of cotton and de-
lude the farmers into selling cotton at
loss than legitimate values, based upon
the worlds supply and demand. We re
tcratc our published statement that the
cotton States west of the Mississippi Will
yield 1750,O00 bales less than last year.
The States east of the Mississippi river
VIII yield 1100,000 bales in excess of last
years crop showing a net decreased pro-
ductlon OF GJu,00o bales. which would in
dioate total yield of 9.733.0Q0 bales for
this seasons crop, II, under bad political
conditions in the most populous regions
OF he world conSuml lion of cotton has
exceeded production $4,000 bales what
must be the disparity between consumption
and production with the world again on
a peace footing? With cotton In the
strongest position in decade, and obsery-
ing the invinclblc law of supply and de
mand, we urge the farmers not To sacr-
fee their high grade cotton at present
prices when they nave much TO gain and
values. j. S. Wilson