The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-01-21
REASON FOR
HIGH PRICE.
MI. D. a. 1'oinpkit1s, Of Char
lottc, n. G, Talks Oh the
Outlook for Cotton.
NO Dlk,lNuTloN OF DEMAND i:
lie Thinks Even Larg Crops
Would be Consumed Without
Mitch Reduction iii Price.

r..
Mr.. D. a. Tompkins, Of Charlotte, N.
c., who is one OF the best known pub
icists in The fieLl Of cotton mnnufac-
turing IN tho South in addition to his
practical lnbors tns n builder cl ma
chlncry aud publisher, WINS in the city
Yesterday. a representative of The
Timcs-Dispatch inquired Of Mr. Tonpkins
what he thought would he the effect
OF the present high prices Of cotton on tho
South, und whether the prices were stable
or wholly artificial Mr.. ,rompkihs suited
that ali the conditions seemed favorable
to tho maintenance OF the price Of cot
ton at ten cents aud upwards for ut least
the next five .Scnrsp
.'Tho Industrial development of tho
South" ga Id Mr.. Tompkns, ''has drawn
large numbers OF working people from
the farms into industrial pursuits. The
handling Of tho raw material and. the
productions of factories have tismen-
do,lsly developed the business of rail-
roads. These absorbed Il considerable
number of people from agricultural plr-
suits for handling tho increased and In.
tcreasing business. In addition TO this,
two of the lines reaching from Washing
ton southwark are understanding their
roads This work has alone drawn from
five TO seven thousand people from their
previous occupations and there is every
promise that these will he continued 10
be employed in the business of double
tracking and otherwise improving the
roads for some years to come.
THE REASON OF IT.
"'The high price Of cotton Is due to the
fact that tho consumption has been In
creasing at Il ratio rather larger than
usual, whii, the production has made no
progress for some years past. The alb
sorption of farm labor by factories and
transportation companies has left on
the farms in tho cotton area all made
quate supply 10 do more than keep the
production at an even figure, about
1c,00O,OOO bales a very good product
per acre might bring the gross produce
ton up to 1000, 600 bales next year, but
with no cotton on the market at the end
of the seahon, and with Il consumption
OF the season. and with a consumption
that is still increasing, a 100000 crop
ut is Il fact that last year some Of
the cotton mills were shut down for want
of cotton, and we hear that some miss
In the South are already curtalling and
also soma mills in Manchester, England.
L think 12,o0o,OOO bales could be used
this year If it was available without
forcing the price much below ten cents
EXPERTS DIFFER.
Tho Times-Dispatch representative
asked Mr.. Tompkins what the effect of
such high price cotton for the next three
or four years would have upon the pro-
ducton Of Egyptian and Indian cotton.
to which Mr. Tompkns said: ut is very
difficult TO answer this question. Some
peop., think that foreign production will
be considerably stimulated. Others think
not, and cite the fact that during the
four years Of the Civil War. when cot
ton went lip to eighty cents a pound, the
foreign production was not materially
increased.n6 I
Edward Atkinson" continued Mr..
Tompkins, lately published an article in
the Manufacturers Record in which he
took the ground that the Southern States
OF the Americar Union was the only area
In the world were all the conditions neces-
sary to the production of good cotton
were brought together. Out of four es-
santlal factors, there are numbers of the
other countries which have one, two or
three OF these factors. but none IN which
all tho factors exist. ercept possibly In a
limited area OF the valley of The Nile.'
Tho first of these factors" said Mr..
Tompkins, probably is population hav-
ing the in tclir,nce tn orranIze and main
tain system of agriculture necessary to
cotton Another is q climate that has
neither tropical or arctic characteristics.
Another Is a character Of soil and ell
uate combined, which makes good quail
lty OF cotton. Excepting only Egypt
all other countries make a cotton that is
very inferior to the American produce
ton. The fourth is a people who the
same time understand and can manage
agricultural operations, and who are
also sufficiently intelligent and inventive
to produce and operate tho best possible
means for picking. marketing and manu-
featuring this crop. All Of these conti-
tons obtain In the South and will con-
tnue to do so. 1t will be hard to esti-
mate the effect In the South of a yearly
income for five years Of two hundred
midion dollars. but 1t Is not difficult tn
sec that It will be of great and lasting
value"