The Marlboro democrat. [volume] (Bennettsville, S.C.) 1882-1908, 1903-09-04

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par,'aeas Or Agriculture
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While In New York recently Gen
eral III: Q. Butler, OF this State, was
asked by a Sun reporter If he had seen
q statement from Secretary Wilson Of
the agricultural department concern
ing the advance in u he price Of cotton
and containing some seyere criticisms
upon the men who lately have been
operating in the cotton market. The
secretary Of agriculture aid not hesi-
tate to characterize them q; gamblers
and to severely criticise them as such.
''Yes, I have seen what was said to
have hcen the expression OF Secretary
Wilson," said Gen. Butler, 'and I
must think that he spoke without
correct information. Indeed l am
bound to say that he seemed not to
know what he was talking about. The
gentlemen to whom he refers as gam
blerS, McssrS. Brown and Hayne, are
not only among the most reputable
business men in the country, but are
gentlemen of the highest charicter.
One OF them, Mr.. Haync, is from my
own State, and think he will stand
fair comparison, as will Mr. Brown
from Mississippi, with Secretary Will
son or anybody in official or business
life. l must say was surprised at
what appeared to me to be a very
reckless charge, one which was not
justified by the facts.
THE fact Is that MessrS. Brown
and Hayne have done more for the
producers Of cotton, the farmers, In Il
few months than the department. Of
agriculture has done in 10 years. 1
was somewhat surprised at Secretary
Wilson, for he did not appear to get
into a frenzy of Indignation when GER
tain other gentlemen In the west were
making 4 corner on wheat and corn,
which enhanced the value of these
two commodities, and from which the
farmers got the benefit.
The secretary seems to be particu-
larly concerned about the operators
and the cotton mills; that the cotton
mills have had to shut down and put
out Of employment Q. large number Of
employees, and that therefore it's a
great wrong upon the cotton mills.
Now in regard to that, DIessrs. Brown
and Hayne simply bought cotton from
the bears In the cotton market and re.
CURED them to deliver the cotton,
and, Of course, the prices went up.
AS rule the managers Of the cot
ton mills all over the country are
bears and sympathize with the bear
operators. Very naturally, their In
tcrest is to lower the price Of the raw
material, and they needed the repre-
sentationS made by the bear opera-
tors, exaggerated the last crop of cot
ton aud failed to provide themselves
with the raw material to keep their
mills going. That Is all there is in
that"
u b /. . +. ! . ! fs.. IN
Can you say anything with refer
ence to the profits in manufacturing
cotton cloth from the raw cotton?n
We'll, only in very general way.
A friend Of mine who is largely inter-
estcd in the manufacture of cotton in
the south gave me some statistics at
one time Of the profits from say
a pound OF raw cotton converted into
the finished product, and l am told
that In many instances that profit has
been anywhere from 10 per cent. to 90
per cent, which of course is very
gratifying to me, for didn't want to
see the cotton mills Of the north, or
the south either, crippled in any way.
But they have not paid fair price
for cotton in the last 10 years, and If
the law of supply and demand is to
cut any figure now raw cotton ought
to be worth 15 cents a pound.
And if, as / understand, the mills
state they cannot manufacture cot
ton at the present prices and make
any money out Of 1t, the simple
remedy for that is to buy the cotton
at the ruling price and put up the
price Of the manufactured goods, for
l think we may safely expect that we
will in very few months find a
famine of cotton manufactured goods
in this country"
What Is the visible supply of raw
cotton on the market, and about how
long would it last?n
My information, and / think it is
pretty accurate, is that the visible
supply Of cotton today Is about $50
600 bales, which would give about
three weeks supply for the cotton
mills. This is my information"
And how long before the new crop
Will begin to come into the markct?"
Well, they are picking cotton now
in the extreme south, but as a rule
cotton ought to be rushed in in October
or November, and then Of course the
mills can buy what cotton they want.
And think ought to make another
statement, which l believe to be cor
rect, that we are now having the
greatest cotton famine In this country
since the Cival war. / want to repeat
that cotton should BIZ selling today for
l5 cents pound, if the rule OF supply
and demand is to cut any figure"
What is your information us to the
number of bales or cotton in the last
crop?"
Well, understand the bears sent
circulars all over this country and Eu-
rope representing that the crop would
be 100000 bales or thoreabouts,
whereas, IL am correctly informed it,
was only about ll,250,000 bales, and
ii the cotton factories were better in