The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-12-06
THE EFFECT OF
HIGH COTTON
As to Cotton Growers
And Cotton Mills
INFLATED VALUES.
Mr.. A. A. Thompson Says That Such
Values For Cotton Would
Prove a Calamity to
TIE Country.

Mr.. Editor: The leading industry of the
money crop cotton, it is the most natural
thing in the world for everybody to re-
joice when the price it commands should
pay a fair profit to the producer, because
when the farmers are prospering every
avenue of trade is benefited
But inflated values though hey may
bring more money to the South l conse-
quently benefit a large majority of the
people Of this section, will be only tenn
porary and in the end invite disaster.
TIE cotton market is now higher than
1T has been in many years, and out OF
all proportion to the manufactured pro-
ducts. The mills throughout the country
will be the first to suffer. Necessarily
wages will have to be reduced and pro-
duction curtailed, therefore cotton manu-
featuring will be seriously crippled
The abnormally high price for cotton
will stimulate the farmer to increase the
cotton acreage. at the expense of other
crops and an enormous crop, far in ex-
cess of the worlds needs, may be ex-
pected next year if the seasons are ia
vorable This country on $4,000, 900 acres
has twice produced crops in excess of II )
100000 bales, and these crops were made
and gathered when cotton did not bring
the farmers six cents per pound. With
cotton selling at more than twice this
figure, how many acres will be planted
and what will be the growth, if Provi-
dence favors with good seasons? Certain
ly not less than 10000, 900 acres, and a
crop approximating 100000 bales. In
addition to the increased American crop
the European nations will make every eff
fort to grow an increased quantity in
Russia, India and Africa Within the
past year England has completed a dam
on the Nile at cost of $40 600, 900 which
will increase the acreage of Egyptian cot
ton, while experiments are being made in
all sections of Africa with the hope that
Europe will not be compelled to depend
so largely on American cotton. Sooner or
later these efforts will bear fruit and in
the end the cotton farmers of the South
will be competing with the poorest paid
labor on earth.
Naturally the price of cotton win fall
I below the cost of production in this coun-
try, and we will have a repetition of the
dark days of 1893 to 1898 with the disasters
and the lsms that were blight and a
curse to our people.
The problem suggests that a remedy
must be found. The producers should and
OF course will get all the market will pay,
and the only hope for the manufacturer is
TO advance the price of goods by whole
sale curtailment of production. We are
spinning and weaving more cotton than
this country will consume. The result is
that many lines of goods are hard to sell
at prices ruling year ago, and some
goods are selling for even less.
To manufacture goods out of high priced
cotton, and then add to the cost by car
rying them indefinitely and in the face of
a stormy probability that the world will
exert itself to produce a record breaking
crop would be the height of folly.
The situation is so grave and so full of
perplexities that a meeting will be held
at Charlotte on the Sth of this month to
consider the situation and it is to be hoped
that there will be large attendance for
in multitude of counsellors there is
safety.
ALT A. THOMPSON.
Raleigh, N. c., Dec. 5.