The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1903-09-02

ing price and put up the price OF the
manufactured goods, for / think we
may safely expect that we will in q
very few months find famine of cot,
ton manufactured goods in this coun-
try"
"What is the visible supply of raw
cotton on the market, and about how
long would it last ?'
"My information, and I think it is
pretty accurate, is that the visible sup
ply of cotton to-day is about $1,000
bales, which would be about three
weeks supply for the cotton mills.
That is my Information
"And how long before the new crop
will begin to come into the market 2"
"WelI, they are picking cotton now
in the extreme South, but, as rule,
cotton ought to he rushed in in Octob-
er or November and then of course
the mills can say what cotton they
want and I think 1 ought to be
correct that we are now having
the greatest cotton famine in this
country since the civil war. 1 want
to repeat that cotton should be
selling to-day for IS cents a pound, if
the rule of supply and demand is to
cut any figure"
"What is your information as to the
number of bales in cotton in the last
crop?"
"Well, understand the bears sent
circulars all over this country and
Europe representing that the crop
would be 11,500,000 bales, or there
abouts, whereas, if am correctly in.
formed, it was only about 10, 900
bales, and if the cotton factories were
better Informed they would have laid
in supply to keep their factories in
operation"
"In other words, Messrs. Brown
and Hayne had better information as
to the actual crop than the manufac-
turers of cotton ?"
"Unquestionally."
"And they took advantage of this ?"
"They simply took ADVANCE of it and
acted upon it, and they required the
bears to deliver the cotton that they
bought, and that is all there is in it,"
"Secretary Wilson takes an alarmist
view of the foreign competition in the
growing of cotton, referring to the
possible increase of the cotton area in
Egypt after the completion of the Nile
daln.n
1.-THE German, the English, the
French and the Russian Governments
have for years been trying to find q
locality suitable for the production of
cotton, and so far they do not seem to
have made much progress. Ten or
twelve years ago-perhaps longer than
that-the Russian Government en-
ployed a very intelligent young cotton
planter in my State, and sent him in
to Central Asia, with a view to de-
veloping the cotton growing in that
country, but my information is that
it waa failure, and I am inclined to
think that Mr.. John G.. Calhoun was
right when he said that cotton, to he
successfully grown in any country,
must have frost.
In view of the increasing world de-
mand for cotton, do you think that
we in this country have any cause to
fear foreign competition ?''
mot the slightest. On the con-
trary, I think we will 90 on increasing
the crop. The demand is increasing
every year. The enormous increase
of cotton factories in the South is alb.
sorbing a great deal of the crop made
in that section, and it's going to con-
tinue, for these cotton mills, wherever
properly managed, have made enor.
nous profits. That is one of the rea-
sons why it was so important for the
cotton planters of the South to have
what they call an open door in China,
aud this is going to he one of the prln
cipal markets for manufactured cotton
goods in the South.
And I want to say in that connec
ton that this country, particularly
the Southern part of it, is greatly in
debted to Mr.. Secre tary Hay, of thu
State department, for his able, tirn
and distinguished conduct in dealing
with that question of the open door
and if he is sustained In that attitude
| do not think that the cotton manu-
factures in this country have anything
to fear"
"What is your opinion, General, a:
to the outlook of the present cottol
crop ~
"My manager, on my plantation
write, me that the crop is about three
weeks laIe, DuI dl pleSeut lS uollS
well. However, it is unsafe to form
any opinion about the cotton crop un
til after September 20. The crucia
period in cotton crop is from abou
August 90 to September 20.
"Then, Whit do you make out o
J Secretary Wilson's statements %
"WeIl, summarized briefly, l shoult
say that they amounted to All unwar
ranted, and, it seems to ME, rathe