Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1903-08-28
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RISE IN COTTON JUSTIFIED.
Gen. M. c. Buffers Sharp Reply to Soc.
retary Wilson.

/
Gen. M. c. Buffers Sharp Reply to Sec.
retary Wilson.
| General M. c. Butler, for a number
of years United States senator from
South Carolina and a major-general
during the Spanish war by appointment
of President Mckinley, is at the Wal
dorf Astoria and will be in the city for
several days. He goes from here to
Newport on the invitation Of his cous-
in, Perry Belmont
| General Butler has been engaged In
cotton planting ever since he came Of
age and has owned his plantations for
thirty years. Since his retirement from
the United States senate he has devo-
ted particular attention to the subject
of cotton growing and Is regarded as
one of the most progressive and best
informed men in the south regarding
cotton.
A reporter asked General Butler yes
terday IL he had seen statement from
Secretary Wilson Of the agricultural
department concerning the advance In
the price of cotton and containing some
severe structures upon the men who
lately have been operating In the cot
ton market. The secretary OF agricul-
ture did not hesitate to characterize
them as gamblers, and to severely crit
| icize them as such.
,6nk co
have been the expression Of opinion OF
Secretary Wilson," said General But
Ter, land 1 must think that he spoke
without correct information. indeed
am bound to say that he seemed not to
know what he was talking about. The
gentlemen to whom he refers as gam
blers Messrs. Brown and Hayne. are
not only among the most reputable bus
mess men in the country. but are gen.
tlemen Of the highest character. One
Of them, Mr.. Hayne, Is from nv own
state and I think he will stand fair
comparison, as will Mr.. Brown, from
Mississippi, with Secretary Wilson or
anybody in official or business life.
must say was surprised at what ap-
peared to me to be very reckless
charge, one which was not justified by
the facts.
1.-THE fact Is that Messrs. Brown and
Hayne have done more for the produc-
ers Of cotton, the farmers, in few
months, than the department Of agri-
culture has done in ten years. l was
somewhat surprised at Secretary Will
son, for he did not appear to get into
frenzy of indignation when certain 9TH
er gentlemen In the west were making
corner on wheat and corn, which en-
HANGED the value of these two COM
modities, and from which the farmers
got the benefit.
1.-The secretary seems to be partfcu--
larly concerned about the operators and
the cotton mills; that the cotton mills
have had to shut down and put out OF
employment a large number Of en-
| ployees, and that therefore it's a great
| wrong upon the cotton mills. Now IN
regard to that, Messrs. Brown and
Hayne simply bought cotton from the
bears in the cotton market and requir-
ed them to deliver the cotton, and, OF
course, the price went up.
LAS a rule the managers Of the cot
ton mills all over the country are bears
and sympathize with the bear opera
tors. Very naturally, their interest Is
to lower the price Of the raw material,
and they needed the representations
made by the bear operators, exaggera-
ted the last crop of cotton and failed
to provide themselves with the raw
material to keep their mills going.
That Is all there Is in that"
Can you say anything with refer-
ence to the profits in manufacturing
cotton cloth from raw cotton?
well, only in a very general way. A
friend of mine who is largely Interested
in the manufacture Of cotton In the
south gave me some statistics at one
time of the profits from say pound
of raw cotton converted into the finish
ed product, and 1 am told that in many
instances that profit has been any
where from ten per cent to seventy per
cent, which of course Is very gratifying
to me, for didn't want to see the cot
ton mills Of the north, or the south
either, crippled in any way. But they
have not paid fair price for cotton In
the last ten years, and If the law OF
supply and demand Is to cut any figure
now raw cotton ought to be worth fif-
teen cents a pound.
And il, as 1 understand. the mills
state they cannot manufacture cotton
at the present price and make any
money out of it, the simple remedy for
that Is to buy the cotton at the ruling
prices and put up the price Of the man.
ufactured goods, for I think we may
safely expect that we will In very
few months find q famine Of manufac-
tured cotton goods in this country
What Is the visible supply Of raw
cotton in the market, and about how
long would it last?"
MY information, and l think II IS
| pretty accurate. Is that the visible sup
ply of cotton today is about $4,000
bales, which would be about three
weeks supply for the cotton mills.
That is my information.'
And how long before the new crop
will begin to come into the market?'
We'll. they are picking cotton now
in the extreme south, but as rule cot
ton ought to be rushed in In OCTOBER
or November and then Of course the
mills can buy what cotton they want.
| And I think / ought to make another
statement which believe to be correct
that we are now having the greatest