The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1903-09-09
THE COTTON SITUATION.
\ New York Broker Says the Farmers
Can Control 1t.

the remarks of Secretary Wilson ant
Gen. Butler He says:
We will all have to recognize that
statements can be made under miSap,
prchenSion and that men as wei
equipped both intellectually and ir
the matter of information as Messrs
Butler and Wilson. can occasionally
be mistaken. Mr.. Wilson seems tt
have been unfortunate in the use OF
terms. ~ inf renee, he characterize!
as gamblers the men who are credited
with having put the price Of cotton
up. If they are gamblers, then, every
shopkecper and every merchant on
earth who buys anything with view
to selling il for an advance on the
purchase price is a gambler. Cotton
is bringing only what manufacturers
will pay for it. Mr.. Wilson'S gam.
blers' can name any price they please,
but they can compel no one to buy.
While this is SO. it is generally
thought, and perhaps must he ad-
mittcd, that existing conditions have
brought about such manlpulatlye
tactics as have caused prices Of cotton
for future mouths to reach higher
evel than they would have touched In
the absence of such manipulation.
But even in this, the suggestion holds
good that no one can be ma &c to buy
at d higher plice than he thinks ne
can afford to pay.
The high level reached has acted
as a check on the consumption OF the
supply Of cotton in existence, and this
has resulted, as Mr.. Wilson says, in
the closing of many mills and the
shortening Of time by many others,
etc., but as has been pointed out: il
every known bale Of cotton had been
in the hands Of the manufacturers
and ali Of it had been consumed: this
condition would have necessarily pre-
vailed some time during the season
just closing 1t is, therefore, clear
that the so-called corner in cotton
cannot be held responsible fer the in
convenience and hardship imposed on
employees BY the closing Of the fac
tories.
The amount Of available cotton
that has been or can be marketed
from the past crop and Old supplies
at prices above 8: cents is compare
tiycI1 small. ana taking into consjd-
GRAFTON the price AZ which the greater
part Of the Cd crDp has been sold, the
actual average paid forjs by nnanrsac-
turers would not exceed a price at
which. il could te consumed at some
profit. @; cour=e: the spot prices OF
tuday could never have been paid io'
ali the old crop without ruir 10 the
factories U1less there had been a COZ
responding increase il prices q The
manufactured products. Hence: it
.o!!oxs that unless the prices q such
products car materially ~ advanced
during the coming year. the quota
cions q: todz: Cannot proitao!y II
paid tDc the coning crop.
M. B3tler taEes occasion % cal!
attention 70 Ire quotations q Z ce,-
uin dats. ranging around iGcents tor
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