The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-09-28

an average price in New York as follows:
The crop raised in 1897 sold at 0.22 per
pound.
The crop raised in 1858 sold at eco pei
pound.
Average price for McKnley's first two
years OF prosperity, Gil cents per pound
or an average of 1S3 points. nearly two
cents pound less than under the dis
tressing days OF Cleyeland's administra-
tion as Senator Pritchard sorrowfuliy
said In fact during the eight years of
Cleveland's two administrations cotton
sold for a fair price during every sea-
son but one, that was 1894: and that year
the price averaged 61s cents in New YORK
a half cent higher than in 1898, during
McKinley's prosperity.
These figures are all taken from the
publications of Messrs. Latham. Alexan-
der & Co. which are the standard.
/ don't believe the administration has
anything to do with the price of COT
ton. l believe it is governed by the law
Of supply and demand. But ! may be
wrong-Senator Pritchard may be right
when he argues that the price of cotton
is affected by tariff laws, ETC. If he Is
right then the Mckinley administration
is in debt to the cotton farmers nearly
two dollars a bale on all the bales raised
in 81 and SO. for it is that much under
the Cleveland prices of '95 and 90
SO protection has done nothing for the
cotton grower, and it has done nothing
for the cotton spinner. The cotton spin
ners never had twenty-four as unprofit-
able months as have been the twenty
four months ending with the last day OF
this month. A person may go over Cleve-
lands administration and select the worst
months, and he can't find twenty-four
anything like as bad as the past twenty
four have been If protection helps
neither the cotton grower nor the co..
ton spinner. how vain must be Senator
Pritchard's hope CT carrying this Gtate on
the prot action issue! Protection may
help bulls and mica. Senator PritcharG
claims that it does, and : don't claim to
know. But | am confident that there Is
no benefit in protection to the cotton
grower or to the cotton spinner. Their
prosperity depends upon peaceful trade
expansion. and a lively foreign demand
We have seen how the prices of cotton
ranged nearly two cents higher under
tariff reform, 50 and 90, than under pro-
lection and Mckinley prosperity in 81
and '9S II we consider the purchasing
power of money during those years COB
and 800 and the present time we will
see tn tt this was much greater then than
now It is probable that cotton would
buy al least 80 per cent more of the ne
cessites of life in 1895, than the same
cotton would now and the price in 1895
was nearly a half cent higher than it is
now Cotton is lower and the necesSi-
ties of life, especially those controlled
by the trusts, are higher Prosperity APP
pears TO have come to the trusts in
Ghounding measure. but it is delusion
and snare 20 the producers ana spin
ners of cotton.
l think Senator Pritchard believes he
can make votes by attacking ex-President
Cleveland. Here he makes big mis-
take The time for making votes by
traducing Cleveland has passed.
Another thing about Senator Pritchard's
speech struck me as strange. II was the
amount of credit he claimed for the pas
sage of laws which he tried. TO defeat.
Two years ago he did his best to de-
feat the amendment. Now he reverently
thanks God that it is the law.
He voted against Confederate pensions
in 1885 and now boasts that he favors
pensions to needy Confederate veterans,
and liberal pensions to deserters.
He boasts of the soliditv of our cur
rency and the safety of the gold stand
ard. But in 1894, when the gold stand
ard was in danger. he asked that his
friends would put him into the asylum
the first time they heard him advocate
it, etc.
He defended his vote against Confed-
crate pensions in 1855 because, he said.
he did not think the man who owned
500 assessed property ought to be per-
mitted to share in the benefit
He said that in 1891 he voted for the
pension act / can't find a pension act
passed in 81, but if one passed it did not
remove the objection he>had in 1885. 1t
remained the law. But it was apparent
that pensions to needy Confederate sol
diers was popular idea.
Then the Senator tried to work
eff the idea that, because the
Democratic party had passed the
amendment, and made 1t impossible
for the Republican party to do the
mischief it has always formerly done
when in power in Southern State, it
was now the duty of white people to quit
the Democratic party and join the Re-
p, blican party. I cant see the logic in
this req1est.
Whenever the Senator seemed at loss
for an argument he went back to the ef-
feet of a protective tariff on bulls ana
mica As a french chef would say, these
seemed to be he pieces dc resistance
CT his argument.
E. w. Pou Speaks in Franklin.