davidaulloa/AmericanStories huggingface dataset:
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31
COTTON FUTURES.

New York. Oct. 0.--The cotton mar
ket opened steady at an advance of one
point to a decline of points, and ruled
quiet for few minutes. Prices in
some instances worked a little lower
under realizing encouraged by the dis
appointing early cables, and the pros
pect for very heavy receipts. When
the weather forecast for the western
belt reached the ring, however. there
was suddn change. and the market
became very active and excited. Octo-
Der, which opened at 10. O7c, sold up to
10. Csc; December was rushed up from
10. zoe to 10.38c; January from 10. lie to
10. 33c, and March from 10. lac to 10 35c.
On the advance shorts covered freely,
and of the features was the heavy buy
ing for a certain bull leader, who Is
credited with having purchased 10000
January in single block. The higher
level attracted considerable realizing,
and Notwithstanding the bad weather
outlook for over Sunday there was
heavy selling. Still the buying inter-
est was we'll sustained, and the mar
ket ruled generally firm during The
balance of the session, with prices
within a point or so Of the best until
near the close when it eased Off and
was finally barely steady net, 5 to IL
points higher. Sales were estimated at
100000 bales. The weather forecast
calls for SHOWS in the territories and
frost over the western belt generally,
with an area of disturbance extending
pretty well over the entire belt. An
other factor in the advance was a bull
ish crop report by a local newspaper.
showing a decrease of about per cent.
in the condition of the crop for the
month, and an estimate issued by a
private statistician placing the yield at
100000 bales. Port receipts turned
out heavier than estimated. reaching
67,S21 bales, but exports were very
heavy, no less than 1920 bales being
cleared, and the Southern spot mar
kets were generally firm, unchanged to
&c higher. The Unto sight" for the
week exceed recent estimates, reaching
516,596 bales, against 454,3T2 bales last
year.
Cotton futures at New York, Oct
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31
REVIEW OF MARKETS
CONDITION OF GENERAL TRADE
nrRING THE PAST WEEK.
COTTON FUTURES ADVANCE.
or MARKEws FIRMER AND THE
DEMAND FOR THE STAPLE
PROMISING.

sDtine steady at soc, With the
ogerings Fairly Well TaIken-Ros-
Ems Firm, and the Demand Fair.
x,,,oIasale Markets Steady-LOcal
and TeIeEraphic Markets.
The Morning News Office,
Friday, Oct. 30.
The cotton future market closed
,,gber with sentiment inclined to con-
a5arca in the future stability of prices
oro,nd an attractive level. The spot
article appears to be in good demand,
o,d the frrnness of spot markets all
+hrough the cotton territory is having
on effect in strengthening contracts.
The impression among the better in
fornoad of the trade seems to be
around 1O,5OO,O0O bales for this crop.
Irnop this as a strong probability prices
are working steadily higher, and the
4rade believe that despite the indica-
lions Of a free movement for some
time prices will work upward.
Turpentine closed steady at sec. with
the demand satisfactory. Resins clos
ed firm at the prices given, though it
was not understood that factors were
relieved of their entire receipts. The
wholesale markets closed steady. De-
tails of the different markets follow:
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31
NEW ORLEANS COTTON MARKET.

New Orleans, Oct. 3O.-In the spot
cotton market offerings were moderate
ly free, both from factors tables and
from the country. Factors were ask
ing u to Nc above yesterdays board
figures. Sales $3.50 bales, including A.
$50 to arrive. Quotations &c higher.
At the opening of the future market
prices were 4 to 5 points lower. The
depression in prices did not continue
long. A sensational bad weather bu-
reau forecast was posted and on the
strength of it prices were sent up 81
to % points higher than the lowest
level of the morning and from 16 to
IL points higher than the close of yes
terday. The lower opening was caus-
ed by the course of the Liverpool
market which did not respond to the
course of prices in the American
markets yesterday. The course of
prices to-day showed that the bulls
have the situation well in hand
and that they will be able to
send prices well up toward Is cents,
even if the movement does continue
heavy. Many bulls believe that cotton
will go to Is cents before the season
is over. III the trading during the
afternoon there was slight shifting
of values the near positions closing
at the highest figures of the day, while
others lost from to points from the
best.
Cotton futures, firml October 1890
10ISc; November, 10.05@10.07c; Decem-
Der, 10. O5@10. 06c; January, 10. 10@10. lie;
February, 10.1S@10.20c; March, 10. 269
10.27c; April, 1O.32@10.3 3c: May, 1880
10. 3Sc; June, 1O.39@10. ACC; July, 10.45@
10. Acc,
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31
HEsTER,s WEEKLY STATEMENT.

New Orleans, Oct. 3O.-Secretary Hes
ter's weekly cotton statement issued
for the thirty days of October shows
a decrease under last year Of $1,000
and a decrease under the same period
year before last of 217,o0O.
For the sixty days of the season
that have elapsed the aggregate is
behind the same days of last year
53S, 900 and behind the same days year
before last $4,000.
The amount brought into sight dur
ing the past week has been 517,315
bales, against 45S, 259 for the seven days
ending this date last year. and $50, 1893
year before last.
The movement since Sept. shows
receipts at all United States ports
to be 1851, T45, against 2,20s, AIS last year;
overland across the Mississippi, Ohio
and Potomac rivers to Northern mills
and Canada, A,067, against 1853. $50 last
year; interior stocks in excess OF those
held at the close Of the commercial
year, 252.S76. against 1872, lac last year.
and Southern mill takings, $4,000
against sS6. 800 last year.
The total movement since Sept. 1 Is
1901, 6ss. against BIAS, 707 last year, and
2, 7S0, $50 year before last.
Foreign exports for the week have
been 4,225, against 26s.206 last year,
making the total thus far for the sea-
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31
ware q LeIapd's Cotton Letter.

New York. Oct. 30.-The position of
cotton is unquestionAbly the most at
tractive and uncertain since the Civil
War. Here we are at a time when
cotton should be reasonably cheap,
since supplies are greatest in the
marketing season, and instead of this
we have excited, advancing markets
throughout the country and Europe.
In fact, Liverpool has taken the lead
in the advance and that market has
absorbed all offerings in a way to sur
prise the entire trade. The continent
has bought every bale of cotton offer
ed in the South at anything like rea-
sonable prices and has asked for more
on the same terms. All the while the
American spinners have been holding
off, and this increases the interest in
future Developments. The only con-
clusion that can be drawn from the
advance this week in the face of the
big movement, is that the crop is a
moderate one. Every reliable cotton
house in this city is placing the crop
below 100000 bales. Those who were
most correct last season and therefore
deserve to be listened to, talk 1O,500,-
600 as this seasons production. The
world has been somewhat bare of cot
ton and at the present time the be-
lief Is that the current crop will hard
ly meet trade requirements at t0c a
pound. AS to the detailed deveinp-
ments of the week, they were higaly
spectacular. On Monday there was
the most extensive advance of the year.
with January selling up 1o.25c. This
came on killing frosts over a large
portion of the belt. Then came the
Boston estimate of 11,250,0 900, and
strange to say the market failed to
lose very much ground on the figures.
About is points was lost in two days
after the figures came out. Then the
market was treated to a unique ex-
perience. A woman brought out an
estimate Of 10,S0O,OOO bales and to-day
cotton for January touched the high
est point of the present movement.
This estimate is worth consideration
because the three previous estimates
proved about as near as the average
guess. There has been a big advance
and one needs to be conservative, but
as long as the position remains as il
is, we would continue to buy cotton
on any good break. If the crop turns
out as people think, we will see higher
prices before spring. The average
estimate of the crop by sixty-four mem
bers of the Savannah Cotton Exchange
is TO- 504. 900
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31
WORLDS VISIBLE SUPPLY.

New Orleans. Oct. 3o.-Secretary
Hester's statement Of the worlds Wis.,
ible supply of cotton issued to-day
shows the total visible to be 1888. 742
against 2,101.99S last week. and 2,722,-
247 last year. OF this the total oil
American cotton is 1,S58,742, against
year, and of all other kinds. including
Egypt, Brazil, India. etc., 475,00O
against $4,000 last week, and Asst ,00t
last year.
OF the worlds visible supply of cot
ton there is now ahoat and held ir
Great Britain and Continental Europe
100000, against 1,S4S,000 last year; in
Egypt s9.OO0 against 100000 last year;
I'm India 177.00O, against $4,000 last year
and in the United States $4,000. against
1,101, 900 last year.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31

Galveston-Firm; middling, 10 3-16c;
net receipts, 22,559; gross, 22,55 sales,
1882; stock, 174,911. Exports-Great
Britain 1854.
Norfolk-Steady; middling, 10Ac; net
receipts, 4,404; gross, 4,104; sales, 902;
stock, 1881. Exports-Coastwise, 81
1885,
Baltimore-Nominal; middiing, 1O.37c;
net receipts, 221; gross, 1,721; stock, s.
"5. Exports-Great Britain, 4,797.
Boston-Quiet; middling, 10.S5c; net
receipts, "a; gross, 2,501.
Wilmington - Steady; middling,
loI21sc; net receipts, 4,642; gross, 4,642;
stock 2S,206.
Philadelphia - Steady; middIing,
lO,l5c gross receipts, S74; stock, 1854.
savannah-Firm; middling, 10 1-16c:
d net receipts, 1892; gross, 1922; sales,
oo' stock, 1O0723. Exports-Great Brit
am, 6,IS3; coastwise 2,169.
New Orleans-Steady; nliddling,
l04sc net receipts, 1910; gross, 1910;
sales $3.50; stock, LAG, $685. Exports
Great Britain, 1000; coastwise, 2,411;
continent, 1905.
Moolle-Firm; middling, 15-16c; net
receipts, 2,O12; gross, 2,012; sales, 300;
STOCK S2,201. Exports-Great Britain,
Memphis-Firm; middling, 101sc; net
,pOs, 44SS; gross, 4,46S; sales, $500;
1Augusta-Steady; middling, 1OAc;
net receipts, 2,436; gross, 2,479; sales,
l,O72; stock, 2s,355.
Charleston-Firm; middling, 10c; net
1aeeCcelpts, 2,4S6; gross, 2,4S6; stock, a.
ooe. Exports-Coastwise, 4,275.
ro ColInclnnati-Dull; middling. lie; net
receipts BAT; gross. 347; stock, 1852.
81, LoulsVllle-CWeekly) firm; middling,
591 15. net receipts, 252; gross, 252; sales,
z42 stock, 13.
~. Louis-Firm; miadling, 10hc;
se s1Ss receipts, 5; sales, 179; stock, g.
Houston-Steady; middling. 10 slice;
S1S7 receipts, 1884; gross, 1884; sales,
''iSi stock, S7,747.
New York-Quiet; middling, 10.50c;
iIS 5s, receipts, SIS; gross, 5,744; sales,
Il,S65; stock. sO,9O5.
Yoa n.runswiclS-Net receipts, 100; gross,
1Vo; stock, 7.772.
for week wv O0ies 10 receip'S
ao,tal To-day at All Seaports-Net
coot,ppS' $685.; Great Britain, $685.;
Te,nent. 1908; stock. 605,S72.
ca fascinated, at All Seaports-Net re-
Frap.s Ss5,5O2; Great Britain, 172,61S;
Is0H Hoe' 1885; continent, 72,02S; Japan,
NO Total Since Sept. 1, at All seaports--
5Ss receipts, 1,959,150; Great Britain,
4TI,'9i France, 165, POS; continent 3d.
~ Japan, 1880; Mexico. $500.
N"t included In totals,
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31

Trains arrive Savannah as follows:
No. 20. daily. from New York. Wash
ngton and Cincinnati. SIZE a m.
NO. 80, daily. from New York and
washington 500 =. m.
No. So, daily. from all points West
Via Jesup, u:59 p IN.
AL trains arrive and depart from
the Union Depot.
Trains 20 and 30. THE WASHING
TON AND FLORIDA LIMITED.
Nestibuled limited trains, carrying
Pullman Drawing-room Sleeping Cars
between Savannah and New York.
Dining Cars serve all meals en- route.
Also Pullman Drawing-rVom Sleeping
Cars between Savannah and Cincin-
rat, through AsheVille and THE Land
For information az 60 rates. sched-
ules, etc, apply to
c. H. ACKERT. q. n. washington.
9; H. HARDwIcK. q. p. A.. WASH
lngton. d. c.
W. H. TAYLoE. A. q. p. A.. ATTAIN
ia, Ga.
r. C. BLATTNER, Depot Ticket
Agent, Union Depot, Savannah, Ga.
e. @. THOMSON. c. P. & II. A.. Sa-
varnah, Ca. 1H Bun street. Phones
$50
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31
DRY ooons.

New York, Oct. 9O.-Buying of dry
goods has been restricted and while
buyers have been slightly more willing
to accept asking, there is no tendency
to operate for future requirements.
Many department buyers have been
given instructions to refrain from
buying until after election, and it is
expected that by the end Of next week
the market will take on a more salts
factory tone.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31

son, 1879, 1862, against 1,51O,94T last year.
The total takings of American mills,
North and South and Canada, thus
far for the season have been 625,S37,
against 752,925 last year.
Stocks at the seaboard and the TWEEN
ty-nine leading Southern centers have
increased during the week 152,016 bales,
against an increase during the cor
responding period last season of S2,615.
Including stocks left over at ports
and interior towns, from the last crop
and the number of bales brought into
sight thus far for the new crop the
supply to date is 2,775,4 S7, against g.
3607S1 for the same period last year.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31
Savannah Bank
and Trust Go.
CacitaL. S35O.OOO.

"oSEFH ID. WEED, President.
JOHN C. ROWLAND, Vice Preaident.
VIM. F. MccAULEY, Cashier.
sAML. L. CLAY, Assistant Cashier.
A general banking and exchange
business transacted.
savings Department., Interest
computed quarterly.
Accounts OF merchants banks
ana corporations solicited.
american xpress COmpany's LETT
tiers of credit issued available in ala
parts of the world.
Collections carefully made and
promptly accounted for.
Safety Deposit Boxes and Storage
Vaults for rent.
Correspondence invited.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31
COTTON.

Spot cotton closed firm, with sales of
664 bales, and the demand fairly good.
The advancing tendency of the con-
tract markets tended to bring export
ers out for the actual stuff. Savan-
nah's receipts were 1892 bales, against
6.451 bales for the same day last year.
In the f. O. b. market the demand was
good. with sales around 1880.
The following were the official spot
quotations at the close of the market
OF the Cotton Exchange to-day:
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31

lures opened and closed firm: Ameri-
can middling, good ordinary clause:
october, Slid; October November
5.b7d; November December, 5.52d De-
cember-January, 5.50@5.51d; January
February. 5.49d; February-March, $3.50
5.49d; MarchApril, 5.4Sd April May,
5.47Q5.4 May-June, SAD.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31
L,yEaPooL COTTON MARKET.

Liverpool, Oct. 3O.--Cotton, spot, in
limited demand; prices unchanged.
American middling, 5.74d. Sales of the
day were 1000 bales, of which 500 were
for speculation and export and in
Guided 1900 American. Receipts, $4,000
bales, including 1880 American. Flu
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31

New York, Oct 3o.-Spot cotton clos
ed quiet, Is points higher; middling up
lands, 1O.50c; middling Gulf, 10.75c;
sales, II, 1868 bales.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31
SEA ISLAND COTToN.

maj market closed firm, with the de-
no,,o- equal to the offerings. The
dsnoeent continues backward. The
cinai,,,.u is Tor the better grades prin-
Rspa,.y, and these are taken readily
IL p pSa from the crop are that picking
por t,sosressinE well enough. Gin re-
SEAS snow less cotton handled this
pn 10 TINS time than last season.
Fa 1slces about as follows:
y ancY Elnridnr
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31
WEEKLY COTTON REPoRTs.

Receipts Ports Past week-The fol-
lowing table shows receipts at all u. S.
ports for the past week and the corre-
spending week last year:
Week Ending Oct. 81:
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31
A. 3. BAXTER & CO., INC,

successors to Murphy q Co.,
Board OF Trade Building. Savannah.
Private leased wires direct to New
York, Chicago and New Orleans.
COTTON. STOCKS AND GRAIN.
New York ONCE. No. 81 Broadway,
Ohces tn principal cities throughout
the South. Write for our market man.
uaI and book containing instruction
for traders.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31
SPOT COTTON AT NEW York.

Futures opened steady, at decline;
closed barely steady.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31
HARRIS, GATES & co.

MEMBERS:
NEW YORK STOCK EXCHANGE.
NEW YORK COTTON EXCHANGE.
NEW YORK PRODUCE EXCHANGE
CHICAGO STOCK EXCHANGE.
CHICAGO BOARD OF TRADE.
NF,W YORK COFFEE EXCHANGE.
COTTON DEPARTMENT 10 Wall St.
Orders solicited for Future Deliveries
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31

Charleston, S. c., Oct. SO.-Sea island
cotton; Receipts, 555; sales, GAL; ex-
ports, Great Britain. 100; domestic
mills, 2S4; stock, 1,160.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31

yzAz}Rl57H
WGEORGlA/N
NI----------------------'-- -------------------A
Schedule Effective Sept 10, 1908.
Trains arrive and depart from Gen.
trail Station, West Broad. loot of
Liberty street, except for Tybee.
Goth Meridian Time-One hour slower
than city time.
Leave Arrive
Savannah: Savannah:
e Augusta, Macon, At
lanta, Covington, Mil
% 10 am ledgeville, Americas, %6 10 pm
Albany and inter
mediate points.
IS IS am statesboro. Is6 10 pm
10 4b ami Statesboro, Stiumoret6 10 pm
and Brewton.
Augusta, Macon,
Atlanta, Athens,
Montgomery,
VpmI Columbus, Birming- O0am
ham. Americas.
Albany, EufRula,
and Troy.
Doyex
ts oOpmi and statesboro ~ 4Sam
Accommodation.
Dover. statesbOro.
1Opm Stillmore ami so Scam
Dublin.
Guyton
00pm Accommodation. II 00am
BETWEEN SAVANNAH AND TY-
BEE.
Trains arrive at and depart from
President.
Standard Goth meridian) time, one
nour slower than Savannah city time.
.oo. LEAVE SAVANNAH.
'sioV a. m, $3.50 p. m.
LEAVE TYBEE.
$50 a. M, '4:45 p. m.
Daily. tExcept Sunday. tSunday
Connections made at terminal points
wgltn all trains Northwest, West and
southwest.
Sleeping cars on night trains between
savannah and Augusta, Macon, At
ianta, Columbus, Ca, and Birming-
ham, Ala.
Parlor cars on day trains between
Savannah, Macon and Atlanta.
For complete information, schedules.
rates and connections, apply to
w. G. BREWER, City Ticket and
Passenger Agent, 107 Bull street, or
w. r. MCINTYRE, Depot Ticket
Agent.
J. C. HALLE. Gen. Pass. Agent.
r. ]. ROBINSON. ASS. GenI Pass.
Agent
w. A. WINBURN, Vice President
and Traffic Manager.
THEO. d. KLINE, General Supt.
Savannah. Ca.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31

Stock of cotton at all ports, Oct. 30.
1908, and on the same day of the week
last year:
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31

Brought into sight
thus far for sea-
son 49,. .2,57s.sss s,1ss,2ss
New York, Oct. 30.--Comparative cot
ton statement for the week ending Oct
30:
Ner receipts al all Unlt>d
states ports during week.. ss5,5O2
Ner receipts at all United
States port game week last
year ...s................,... 315,5l
Total receipts since Sept. l....1 ,s5s,15o
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-31

receipts since Sept.1 gross 10, 11s IS, $50
Receipts since Sept. l (net) l10O32 lie. $50
The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1903-11-24
NO APPOINTMENTS MADE.

81 have made no appointments yet. |
1t would not be appropriate to make ]
appointments directly on the heels of |
the recommendations of the Republi- !
can Central Committee, without taking
some time for consideration. 1t might |
be treading on the toes of the public. |
There are other important interests to
be considered. / think probably the
appointments will be made tomorrow"
To the foregoing effect Governor Car
ter answered a question regarding APP
pointments, put to him at 4:30 yester-
day afternoon, upon the first oDDor-
tunity an Advertiser reporter had in
two hours. All the afternoon in fact
the Governor had been receiving depu-
tations of politicians, now in the Gov
errors office and again in the Secre-
tary's-abandoning one place for the
other as the callers changed. Once he
turned everybody excepting his stenog-
rapher out of the Secretary's office as
he brought c.. C. Kennedy of Hilo in
there for a private interview, which,
by the way, lasted about half an hour.
Evidently 1.-The Hilo idea" had a GOOD
airing.
Just previously Senators Achi and
McCandless had been cloSeted with
Governor Carter in the inner executive
chamber for more than an hour. Fol-
lowing Mr.. Kennedy the next to have
the Governors private ear was Edgar
Caypless, the defeated candidate for
Oahu county attorney, the fitting this
time being from the Secretary's to the
Governors Office. Mr.. Caypless had
come to make his return of election ex-
penses and just before the door slam
med upon the tete-a-tete he said he
only wanted to say Aloha" but the
event proved that the eloquent Hawai-
ian salutation is capable Of more at
tenuated utterance than a Honolulu
street campaign speech-on this occa-
sion, say, twenty minutes.
Governor Carriers reference to the
Republican Central Committee is eX-
planned by the following communica-
ton:
Honolulu, November 21st, 1903.
Hon. George r. Carter, Acting Gov
- ernor, Territory of Hawaii.
Dear Sir: I am instructed to inform
you that at meeting of the Executive
Committee of the Republican Terri
torial Central Committee, held in the
forenoon of this day, it was unani-
mously voted that the following be
! appointment as various department
heads.
c. S. Holloway for Superintendent of
| Public Works.
Lorrin andrews for Attorney Cen
! eral.
| ]. H. Fisher for Auditor.
(! Alatau T. Atkinson for Superintend-
ent of Public Instruction
| J. W. Pratt for Commissioner Of
Public Lands.
Also that the committee recommend
to you that an Hawaiian be appointed
! to the office of Secretary of the Terri
! tory and that the name of Mark p
: Robinson be submitted for your consid-
! Grafton.
| Also that the Committee present for
! your further consideration the name
! of Frank D. Creedon as Private Secre-
| tary to the Governor.
W. H. COMFY
Secretary.
Oxford eagle. (Oxford, Lafayette Co., Miss.) 1876-current, 1903-03-12
HERE N THERE.

Begin now and feed the colts
some wheat bran at least once a day.
"A heifer calf intended for a dairy
COW should be trained from birth
with this end in view and be made
gentle and traetable.
Every indication points to a con-
stantly increasing demand for good
cows in the future. A great many
dairy farmers are giving but a super
fetal study to this feature of their
business
As the planting season is ap-
preaching it is very important to use
our best efforts to get our seed in
well prepared, finely pulverized soil.
February and March should be given
mainly to this work.
The worlds markets can only con-
surne.a given quantity of cotton, and
all above that only serves to embar-
rass all parties and always results in
lowering the price. Hence it is not
to the interest of the southern farm
er to plant so much cotton.
1t is true that the quantity which
the world can consumeincreases from
year to yea as new uses are found
for cotton. But this increase is not
equal to the increased area that the
growing south brings into cultivation
each year