Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1904-12-13
The Cotton Situation.

hands of the Columbia State.
The Cotton Situation.
There Is no question Of the fact that
the cotton producers Of the south
have within the past ten years. learn
ed more about the conditions that al
feet the value Of their great money
crop than they ever knew before; but
the problem as to how to turn that
knowledge to practical account re-
mains to be solved.
The most important fact that mas
been developed in connection with the
ruling price for cotton, is that q small
crop brings more money in the ag-
gregate than a large one, and with
this fact established, it would seem
that there Is no need to look further
for a correct basis Of action.
By way Of illustration, we will call
attention to the fact that If legitimate
requirements call for eleven million
bales, and the south raises only ten
limit to the market price. We had
demonstration of this last year
when there was jump from 9 cents
to 16 cents, with bright prospects OF
20 cents. We are now confronted with
the other side of the situation. Ten
days ago. it looked as If the produc-
ton promised only few hundred
thousand bales In excess Of consump-
ton, and the price stood reasonably
firm at about cents. Then came the
government report indicating that the
production was a million bales In ex-
cess of probable consumption. and
prices went tumbling toward Z cents
with no guarantee that they would
stop at that point.
In this state Of facts, and we do not
think anybody will seriously question
their approximate correctness, the only
thing that stands in the way of COM
plete remedy to the misfortune that Is
constantly bearing down on the south
is ability to apply that remedy. And
in view Of the repeated costly lessons
we have had along this line, there
should no longer be any serious difn-
culties in the way Of developing this
ability. 49,
The dispatches of a few days ago
told of a proposition that has just
been made by Alabama farmers to burn
million bales of cotton. They argue
that with a million bales Of cotton
burned, the remainder Of the crop
would be worth more money, and
would bring more money than would
the whole crop under existing condi-
tions. The average mind will be slow
to grasp the sound sense in this pro-
position; but that the proposition Is
certainly sensible, there is no reason
able question. 1t is not only sensible
but it is practicable.
Say for instance that a 100000
bale crop is worth cents a pound and
that an IL ,OO0, 900 bale crop is worth IL
cents a pound. The price Of cotton is
now based on a. 100000 bale crop.
Suppose through organized effort
southern farmers and others would
go on the market. buy three million
bales Of cotton at Z cents and then
burn one third of it, the result would
be a profit rather than a loss. Three
million bales at cents would cost
s1O5, ,00O, 900, and two million bales at
IL cents would be worth, $120,O0O,O00 a
clear profit of s15,000,000.
AS practicable as this plan is, there
are insurmountable difficulties In the
way Of its execution: but the same end
may be attained without resort to
such a heroic remedy, If the farmers
and business people Of the south will
Just center upon proper leadership.
Nobody is going to pay very much
attention to men like Harvie Jordan,
for instance. We mean no reflection
upon Mr.. Jordan; but he is more Of
theorizer and notoriety seeker than he
is a business man. Then suppose the
south should look to a man like Mr.
Frank B. Hayne of New Orleans, who
probably did more than anybody else
to make cotton bring it's value two
years ago, and who very probably
started the present era Of prosperity
in the south. Mr.. Hayne is more than
a mere speculator. He has proved the
fact. He is broad business man who
has the interest of the south at heart,
and who is capable, with proper back
ing. Of making the world pay the
south for her cotton every cent 1t Is
worth. Then let the south form a
thorough organization, headed by a
leader like this, with power to say
when cotton shall be marketed and In
what quantity, and how much shall
be planted, and not only will the
bears Of Wall street have to go into
other lines of business; but the south
will draw from all the world an annual
tribute that will be limited only by her
own sense of moderation.