The Bolivar bulletin. (Bolivar, Tenn.) 1888-1946, 1904-09-23

, gent needs, holding the rest unit
the demand shall put the price say
to SO bale above the present of
fering.
'The worlds necessities are in
creaslng, not diminishing, and the
demand for the staple must increase
proportionately. This must in
evitably raise the price of cotton tc
a higher level, so as to correspond
with the increase in the cost of all
other necessities. In other words,
the single exception should not be
made in the case of SO universal a
necessity as the main material fol-
the clothing of the world"
Mr.. Peters, who has been urging
that II cents should be the minimum
price, says:
81 consider II cents per pound a
minimum price for this years crop,
as this is the fifth year of short
crops, with the prospect of 10, 600.
900 bales or under, and the fact
that the European spinners have
contracts ahead for the sale of their
product on basis of IL cents on
the farm, and that their warehouses
are bare of cotton to fill their con-
tracts, with the prospect of the
speedy settlement of the Russian
Japanese war and the opening up of
that section for the consumption of
the products of our mills.
This is probably the last year
when crop will be made amount
ing to as much as O,OGO,O 900 bales,
as with the increase of territory
covered by the boil weevil and the
fact that in short time 100000
bales will be maximum American
crop and 20 cents per pound min
imum price, l see no reason why
cotton should not 60 to Is cents this
year"
Commenting upon these opinions,
without accepting in full the pre-
dictions of President Peters, but
commencing as conservative the
views of Col. Morse, the Manu-
facturers' Record says:
''The South this year, to an even
greater extent than last year, has
the call on the money of the world.
For the crop of 1908 1904, including
seed, it received, according to gov
eminent figures, over 5000, 900, 1000
an unprecedented amount-of which
probably $3.50, 100000 was clear
profit. This year it will receive
from S65O,oOO, 900 to 500, 900, 1000,
with a good prospect of the latter
figure being reached, if not exceed
ed, should the farmers be able to
hold back their cotton and market
it gradually. When the warehouse
system on a broad scale has been
established throughout the South
the farmers power to hold his cot
ton, and thus steady the market,
avoiding wild fluctuations, will be
absolute, and with more uniform
prices the manufacturers as well as
the growers will enjoy greater pros
peritY.
''Last year the manufacturers as
a class took an essentially wrong
position on the price question. In
their effort to force down prices of
the raw material they convinced the
consumers that prices were too
high, and naturally this lessened
the purchase of goods.
cit is difficult to understand how
any careful investigator of the sub
ject could have been deceived into
believing that we had not entered
upon period of higher-priced cot
ton, and that the speculative ex-
element was but a feature of this
and not the cause. In,
stead of seeing this, however, many
filled the world with
statements that there was no ground
tor high-pllced cotton, and that the
advance was due to speculation or
gambling" and in doing this they
practically compelled buyers of dry
goods to hold off and wait for the
promised decline.
''That prices were forced too
Ugh and too rapidly is true, and
he Manufacturers Record warned
he public at the time, but the
world is now compelled to adjus
tself TO higher-prlced cotton goods"