The Savannah morning news., 1904-12-30
TIE COTTON SITUATION.

cotton planters what would happen IL
they planted too much cotton. What
if they did tell them what would hap
pen? They didn't tell them anything
they didn't know. There isn't an in
telligent cotton farmer who wasn't well
aware of the fact that If the supply
exceeded the demand the price of cot
ton would decline and that the de-
cline would be in proportion as the
supply was greater than the demand.
Each and every one of them took
the chances that the supply wouldn't
be greater than the demand at a price
| that would yield a profit. Each Of
them speculated on the cotton sit
uation. The idea prevailed that there
was a shortage of cotton goods. and
| that, as the crop last season was a
| comparatively short one. this years
| crop, even If II were a big one, would
bring a high price. The farmers
planted for big crop. and they got
it. But it is probable that if the sea
son had been an ordinary one the crop
wouldn't have been big enough to
cause the price to fall below 10 cents.
The season. however. was an extra
ordinary one. It was so favorable
that from it's beginning until Christmas
there was hardly a day that wasn't
favorable for picking cotton. The re-
suit was that the yield per acre was
almost unprecedented. And what has
happened to the cotton farmer this
year happens frequently to the wheat,
corn and truck farmers. And it has
happened to the cotton farmers in 9TH
er years.
Prof. Phillips, of the University of
Wisconsin. has a long letter in We'd
nesdays Constitution in which he
points out that last spring he urged
the planting for a moderate cotton
crop, and makes a long statement
showing how much more profitable
moderate sized crop is than a big one.
What Professor Phillips says is inter
esting, but not new nor particularly
instructing. The newspapers in this
state, and we presume in other cot
ton states, have been telling the cot
ton farmers ever since that time in
cents a pound, that their true inter
ests are in diversifying their crops
in producing their own bread. meat
and hay. And they didn't tell the
farmers anything new. The farmers
knew all about that. AS a matter of
fact they did diversity their crops as
long as cotton remained at price that
yielded only a moderate profit. But
when cotton jumped up to IS cents a
pound. as was the case last season,
and the talk on all sides was that
it never would again go below 10 cents,
the cotton farmers caught the specula-
tive fever, and. like all other specu-
lators, they put every foot of land
they could cultivate into cotton. hop
ing the price would remain high un-
til their crop was marketed. They
simply speculated and lost-at least
they were not wholly successful. be-
cause the price dropped before they
got all of their cotton to market.
Now if Prof. Phillips and the 9TH
ers who are filling the columns of
the newspapers with their, Il told
you so.'' and their suggestions as to
the size Of a crop the cotton farmers
ought to raise. so as to get the best
possible return, will point out just how
to keep the cotton crop within certain
limits-that is, how to get the cotton
farmers to agree to raise only so much
cotton. and to stand by their agree
ment-they will do the cotton farmers
and the South a great service. The
talk about diversified farming and
10, ,O00. 900 bale cotton crop being worth
more than 100000 bale crop. is en-
tertaining and may be instructive to
those who haven't given the subject
attention. but il doesn't meet the sit
uation. II doesn't solve the prob
lem as to how TO get the farmers to
plant for lO.O00.O00 bale crop. instead
is a pretty fair outlook that the price
OF cotton viii be high.
The farmers did this year just what
they have been doing ever since the
planting Of cotton began in this coun-
try. namely. they planted all they
could cultivate because they believed
they would be able to sell ii at price
that would bring them a profit. And
now they are proposing to do just what
they have always done under similar
circumstances. namely. cut down nex1
years acreage Some are saying they
will buy cotton at present prices and
hold it until next season and not plant
any at all. and others are proposing
TO burn portion OF their present crop
so as to reduce the supply. and thus
bring up the price.
The situation is the same that we
have had in times past. II Prof.
/ Phillips and other thinkers desire TO
Introduce something new in It let them
point out the procedure By which the
crop can be kept within profitable i'm
its-how the farmers can be induced 70
raise just so many bales OF cotton
| and no more.
! ha AZ ,ft1fu