The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-09-18

last wear a crop of about 10000, 600
bales selling for twice as much, we can
readily understand what a mill stone
around the cotton farmers neck is a
surplus of a million bales.
If we can eliminate that surplus or
keep it off the market the question
that confronts and most concerns the
cotton farmer will be immediately
solved This is just the thing the
promoters of the warehouse system
propose to do. They propose to do it
in this way: The man who must have
money to meet his obligations can car
ry his cotton to one of these ware
houses, have the cotton weighed and
graded and get a receipt for it upon
which he can get money at the bank
to meet his obligations without throw
ing his cotton on the market, OF
course, if prices are all right and to
his liking, he need not take his cot
ton to the warehouse at all, but sell it
on the open market. And also if he
is in position to hold the cotton him
self, he need not take it to one of
these bonded warehouses, but store it
on his own premises. if he so desires.
BY this system, it is claimed, the
Spectator will be largely eliminated
and the 'bears'' who have been pull
ing the prices of cotton down, will
operations.
Outlook for Continued Good Prices.
AS a matter of course, if the better
prices that cotton would bring under
this system of selling were to run peo-
pie cotton crazy, and they were TO
persist in making more cotton than
the trade could consume, there would
of necessity be a drop in prices. That
would be inevitable, but it would not
be spasmodic fluctuations that we
|now see, but a gradual decline until
a reaction was brought about.
However, that is hardly probable
for some time to come at least. In
cur new possessions, the Philippine
Islands we have acquired several mil
lions Of inhabitants, the most of whom,
according to the pictures we have seen,
show the need of new suit of clothes
without much delay. And as our sol
diers who have been there for the
last few years civiliZ,ng them wore
uniforms from cotton cloth, it is but
natural that the citizens of those is
lands will also adopt cotton cloth for
their clothing. Those islands alone
should develop a great market for
Southern cotton. And as civilization
advances there and elsewhere the
market for cotton goods will increase,
in all probability, to the capacity of
our production. Even here where the
cotton is grown, the demand for cot
ton goods is increasing. There are
more pounds of cotton consumed per
capita among our own people now
than there were twenty or thirty
years ago, and the consumption in
creases annually. 1t Will be so all over
the world. AS the people advance in
enlightenment tile consumption OF cot
ton will increase; therefore with pru-
dence. we need not look for any great
surplus in our cotton crop for some
time ito comes And with the ware
house system a surplus could be car
ried in all probability until a partial
failure in the crop would create a
demand for it.
The st. Louis Meeting.
There will be a Southern Cotton
Farmers Convention held at st. Louis
September 18th, at which farmers and
all others interested in maintaining
good prices for cotton will discuss this
and other plans for that purpose. In
a letter just received from Mr.. Harvie
Jordan, president of the Cotton Grow
ers' Protective Association, he states
that the attendance at that convention
will be large. Texas alone is expect
ed to be represented by 900 delegates,
Georgia with 200, North Carolina and
Alabama 2UO eacn, ana large ueleSd-
lions from the other cotton growing
States. Much interest is manifested,
and it is thought by some that the
present advance in cotton may be due
in part to the fact that at that time
to try to get better prices for the in
coming crop than the cotton-buying
world has been promising them.
1t will be we'll for the readers of
the Progressive Farmer, and in fact
all cotton farmers, to keep in touch
with this movement. 1t may mean
much for them.