The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1903-10-28
TEN CENT COTTON
Benefit Southern Cotton Mil Own
ers, Says Mr. Edmonds.
BY PLAIN FACTS AND FIGURES


! BY PLAIN FACTS AND FIGURES
He Shows that Cotton is too Cheap
When it Falls Below the
Average OF Ten Cents
Per Pound.
Since the days of solomon it has
ever been true that the buyer is a
bear" for today, as then, "naught,
caught, saith the buyer" has been
the crv Of the man who seeks to force
down the price OF that which he de-
Sires to purchase: but it would seem
that il has been left for this day and
generation to produce a seller VINO
ioins in with the Duyec and seeks to
depTess the value OF his own goods
The south is the great seller CT cotton
20 the w"rld. and in these days il
seems to take delight in letting the
ouver of its cotton not only tx tile
price. but even joins in with The
buyer in helping to create the I'M
preston that the bull" or cotton is
dangerous animal, while the bear,
is the oaly truly good animal in the
menagerle.
1t is t. be expected that the great
cotton manufacturers OF Europe ana
New EnglanG should unite their forces
ia beating down the price OF cottor:
&c are not surprised at their efforts tu
create the impresSionthat the man who
seeks toadvance the price 0! cotton IS a
conscienceieSS gam bier who deserves
70 ne executed by all right-tiinkiog
people: we are net surprised that they
! hold him up IS the enemy OF man
kind in forcing the closing OF mills
and the stopping If employment for
thousands Of bands. But it is d little
surprising that the south SO complac-
entity accepts these teachings, and
that southern people give heed TO them
as though they were the honest con-
victionS OF sincere men. On the 9TH
er band. the ''hear,' the man who
lives ou the sutferingS enuailed upon
the millions Of cotton producers by
forcing down the price Of cotton, is
held up as a great benefactur. Even
let it be granted that both be gam
a!erS. yet the bull is q power helping
to secure for tie producers a tairer
price than he has had for many years.
and TO that extent at least he is doing
great good TO the south: While the
bears work results in keeping the
cotton grower poor Tor tie Dencht OF
the manufacturers Of Europe and the
north.
at the recent meeting Of the New
England Cotton Manufacturers ASso-
: ciation. the president aud a number
of other speakers bitterly denounced
the efforts of the bull leaders which
brought about the higher prices of
cotton. and the president expressed
the hope that the time would soon
come when other countries Wonid
grow enough cotton TO make the
world more in6ependent Of the south
as it's chief source of supply. Here
was, the president of d great American
business body expressing the hope
that the south might lose its monop-
oily on Gotten by the development OF
cotton growing elsewhere, and against
such unpatriotic sentiment, prompted
only by bis desire that in this Way the
price Of raw cotton might be forced
down to lower level, l have not seen
d Single word OF protest in northern
papers and very little in southern.
Nnat cared he whether the cotton
producer, be he black or white, get a
air return on bis cotton? His only
concern was that he and his fellow
manufacturers might buy cotton at a
low figure, since the margin ct profit
to the mills always much larger on
low Price than On high price cotton.
Nobudy eau blame these people for
lighting for their own interests, but
the south has right to ask that they
make aG honest fight, and that they
do not seek to convince the world that
the man who lcadS ia breaking down
cotton prices is saint, while the one
who works for higher prices is the
greatest of sinners.
COTTON NOT TOO HIGH.
AS / said, the strangeSt thing about
the matter is that without studying
the subject many southern people
adopt these views and think that it is
q misfortune to the south for cotton
TO command high prices. Only yes
terday a prominent southern banker
said 10 me: L hope these high prices
Of cotton will not last longer than
this year, for II they do the southern
mills will not make so much money.
It is doubtless true that with high
prices the mills wouldn't make such
arge profits and no one more highly
appreciates than do the magnificent
work Of the mill interests Of tue south
in the development Of this section in
the creation Of employment for hith-
erto idle people and in every good
work that tends to the upbuildlng OF
the whole south But suppose high
price cotton should cause a net de-
cline of per cent in the earnings OF
all cotton mill capital in the south
the aggregate decrease would be Say,
$4,000. 600 to SIP. 900, ,00), as there IS
COW about $4,000. 600 to $500, ,0OG.-
600 invested in southern mills though
even this might not CONT true. as the
mills might be able to 50 adjust their
operations as to avoid any decrease.
On the other band an advance OF
even ! cent pound in the raw staple