The Brandon news. (Brandon, Miss.) 1892-1961, 1904-12-08

the market and arrest the tendency to
undue decline, gave out Tuesday
night of this week the following in
teresting statement:
Cotton has declined to a point
below the cost of production. Are
you going to sell at present prices.
or hold until you can get the market
value for the balance of your holdings?
The decline is unwarranted. To be
conservative. I will say that the
balance of this crop should bring at
least 10 cents at the ports, and, accord.
ing to my judgment, the only way to
obtain all advance is for ths planter
to keep his cotton on his plantation
until the actual demand is sufficient
to enable buyers to pay the proper
value for the stuff. The merchants
who are carrying cotton should not
force what they have on the market,
but stand firm and demand higher
prices or not sell. The banks all
over the south should stand by the
merchants and planters, and not force
them to sell their cotton at present
prices, which they all know is below
the cost of production. These prices
mean ruin to the south. 1t affects
every branch of trade, and the only
thing to do is for every man that is
interested in any manner, shape or
form to stand together. For the sake
of argument, admit that the crop is
$4,000, 1000 bales Though do not
believe it, the consumption at these
prices will be at least II, 500, 900 bales,
and the other half million bales will
be small quantity to go into mill
reserves. The spinners Of American
cotton throughout the world should
at least add this year to their depleted
stocks half a million to a million
bales; the visible supply at the end
of the season, in order to prevent
'squeezes' and corners should be
at least one and quarter million
bales. Any well-posted cotton man
knows that this is practically cor
rect, hence I see no reason for the
holders of cotton to get scared and
sell at anything like present prices.
Since the bureau was issued on
Saturday we have seen great many
kilograms from some of the very
best cotton merchants scattered over
the south, to the effect that they
believed the estimate was too large.
mention this to show you that I
am not the only one who thinks the
estimate too large. However, it
has had the effect Of putting middling
cotton down to z 1-2 cents in the
New Orleans market.
'The south went broke raising cot
ton at 1-2 and cents per ound in
1897-1S9S. ana during that peri cd
everything was cheap as we'll as
cotton, and the cost of raising cot
ton was small as compared to the
present crop, which is the most ex-
pensive one ever grown. 1t would
pay the farmer to sit still and not
market another bale of this crop
until he can get above 10 cents, and
reduce his acreage another season at
least 10 per cent, and instead of
raising another bumper crop raise
only enough to supply the world.
The last crop was only 10000, 600
bales, and it brought more money
than any crop ever raised-much
more than this crop will bring un-
less the balance left brings much
higher prices than those ruling today.
With cotton at 1-2 cents at the
ports, cotton plantations are worth
today just about half what they
were at this time last year. Now
every man that is interested in the
south, regardless Of the character Of
his business, should be interested
in keeping up the price of cotton.
Cotton is one of the few things that
the world must have, and the south
has a monopoly on the territory
where it can be grown, yet they
won't take advantage Of the situa-
tion. There are SO many things that
can be raised in the south profitably,
why not turn your attention to other
things and raise less cotton.
I'VE have been told that we need q
twelve-million. bale crop this year,
and now that you have raised one
close to that figure. they say you
must sell it at = give-away price.
Stand together, both merchants,
farmers and bankers, and you will
come out all right, but If you
throw your holdings on the market
you may rest assured that the spin
ner will buy it just as low as he
possibly can, and don't blame him
for doing SO. It isn't the spinners OF
the world at this time who are forcing
the market down; it is the bear