The Union times. [volume] (Union, S.C.) 1894-1918, 1904-09-23

' Ciielr lilOSC urgent needs
holding the rest until the demanc
shall put the price, say, to SIO :
bale above the present offerino
;, AS | stated in my previous
LAX with you as to what the
farmer might be justified in sell.
ing Tor at the outset, develon-
ments 40 not yet quite justify
any accurate estimate as to what
the ultimate crop will be. Suffice
that, regardless of the magnitude
OF the crop, it is also self-evident
that every bale of American cot
ton Will be required at higher
prices than futures now com
mand. VIII
I'm the very same paper in
which l read the Financial
Chronicle review appears a tele-
gram from Texas, in which Pres
ldent E. S. Peters, of the Texas
Cotton-Growers Protective Asso-
cation, advises the farmers of
the South to hold their cotton for
IL cents, adding that Is cents is
not in the least remote proba-
blllty before another crop is
planted. AS between the Finan-
clal Chronicle and Colonel Peters
the latter, perhaps, is in the bet
ter position to judge conditions.
AS between the two,I should be
inclined to follow the advice of
the man in touch with thousands
Speaking of Texas, it is hard
to reconcile the position of the
Chronicle in lending credit to the
report of the Department of
Agriculture in the claim that no
essential impairment of conditions
has resulted from the adverse in
f1uences up to and including
August 25, and at the same time
discrediting all prey as state
ments from the SAP source that
the boil weevil W. "a permanent
fixture and it's Rd of operations
would continue to expand until
it had invaded every cotton pro-
ducing State in the South. The
inference is that the Financial
Chronicle credits the Department
of Agriculture in it's bearish con-
clusions, but discredits the same
authoritysin it's declarations con-
cerning the damage done by the
boil weevil and the probable flu
ture extent of the ravages of that
insect"
Commenting on the foregoing.
tGen. M. G. Butler, formerly
United States Senator, but now
a farmer of South Carolina, who
happened to be a visitor at the
office Of the Southern Cotton Cor
lporation at IA Broadway, said
| "Of course, it is too early to ven
ture an estimate of the crop
J, but l am advising all fellow
!, farmers who can do so to holt
for IL cents. If the warehous,
plan of the Southern Cotton Cor
! poration was now in operation
with money to lend the farmers
! at an interest charge as low a
6 per cent, few bales woul,
J come into sight at a lower pric
than that. The secret of fai
5 prices lies entirely in the farmer
4 ability to hold his cotton until j
is actually needed by the spin
e ners."
r 1t will be remembered that
Y was General Butler who so Wig
t orously called down Secretar
Il Wilson last. season when ths
s worthy, aspersed as commo
: gamblers the men who were the
l. trying to get for the farmers fl
!, the first time in years, a fa
e price for their cotton. Secretar
+ Wilson then promised to "tal
!; off his hat to the General if co
, ton failed to go down to seven
1t eight cents when the gamblir
s was over. Hasked the Gener
l. If the Secretary had kept h
le promise. No." said he, ar
now ] shall not be satisfied wit
q his merely taking off the hat
a: talked through so recklessly, b,
ir shall insist that he send ne
or hats to Brown, Hayne, Morse al
h the others whom he called gar