The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-12-31
Harvie Jordan Sums Up
the Situation.
THROW OFF THE YOKE
Marvin V. Calvin Points Out Three
Things that Should Be Done: Re-
duce Acreage. Reduce Cost
of Production Per Acre.
Diversity Crops.
Especial to News and observer)

Especial to News and Observer.)
Monticello, GA, Dec. 30.-Senti-
ment is changing rapidly in favor of
a better market. The continued re-
fusal of farmers TO sell their cotton
upon the present low market is be-
ginning to have its effect in the move
ment. Port receipts are falling be-
hind. no cotton is moving at interior
points. Port receipts are only being
held up by rushing cotton from the
congresses, where it was congeSted
before the heavy drop in prices, be-
fore the third of December. Export
erS are only able to complete their
contracts for December by reason of
their heavy purchases in the interior
before the Government Bureau stat
istics were issued. If the spot mark
ct i'm the interior is tied up for the
next ninety days and the farmers de-
termine to reduce the cotton acreage
for 1905, not less than 20 per cens,
this fight will be whipped and the
present hard efforts of the producef
will be crowned with victory. All
sorts of schemes and devices are al
ready being manifested by the Bear
element TO continue its control of the
situation. Here are some OF them.
Buyers at many interior points are Of
fering farmers $50 per bale advances
on their cotton, without interest. anu
agreeing to pay warehouse charges for
the next ninety days, ii the farmers
will give them control of their cotton.
This is a malicious scheme concocted
by tne buyers To get the cotton in
their control Every farmer VINO
wants TO protect himself and the South
from the ruinouS effects or IIis propir
stion is earnestly urged TO spurn all
such propositions and steadfastly con-
tinue in the control of his cotton. The
exporter will soon be out of specula-
ton and they cannot fill their cor
tracts with futures. They must have
the spots, and that is now in the hands
of the producers. Hold tight and
don't give any quarter anywhere along
the line.
Mass Meetings Held.
Mass meetings have been held
throughout the South since the 10th
inst, and everywhere the same cheer
ing news comes that the producers are
organizing to hold their cotton, to re-
duce the acreage. next year % er
cent, and curtai the use of CONNER
cial fertilizers planting Il larger acre
age in food supply crops. This is the
keynote TO the situation. Permanent
relief cannot come without reduction
in acreage and heavy curtailment in
the East does not believe that the
South has the financial strength or
manhood TO hold cotton longer than
two or three weeks, and that heavy
break will come the middle of Janu-
airy.
1t may not be generally known
among our own people, but carefully
prepared statistics show that three
fourths of all the deposits in Georgia
banks, outside OF Atlanta and Savan-
nah belong to the credit of Georgia
farmers Three dollars out of every
four on deposit is farmers money.
What is true of Georgia is also true
of the other cotton states. Farmers
can get all the money needed from
our banks on cotton in storage. But /
urge farmers to borrow as little money
as possible. Economic, do without,
and suffer inconvenience for a few
months in order to prove to the world
that the South can maintain herself
in this fight and that we can prevent
the Eastern gamblers from confiscar-
ing our property. Thousands of farm
erS can hold their cotton without II
nancial help. Help one another in this
day of temporary depression The
whole future of the South is at stake.
and we must win or go down in ever
lasting defeat. 1t is reported that the
Eastern bankers are preparing to call
in Southern loans from all banks in
the South so as to force if possible
4 sudden contract of currency and to
force our local banks to force their
customers who have borrowed money
on cotton to throw this cotton on the
market. But Wall Street no longer
holds the purse strings of Southern
bankers. and they no longer dictate the
policy of the South's financial business.
But all this goes TO show how hard
and persistently the East is trying to
continue its domination over the South.
Show to them the true Southern
spirit and that the farmers of the
South have at last carved out their
emancipation from the CZar-iike do
minion of Wall Street.
Listen to No Proposals.
Listen to no proposals from buyers.
except when they offre you ten cents
per pound for your cotton. when prices
advance sell your cotton slowly and
do not al any time rush it upon the
market. Those who are strongest in
the South had better carry over two
million bales Of this crop and-reducc
the acreage for next year so per ceTJ
than to sacrifice cotton at present
prices which are below the cost of
production. The Interstate Cotton
Convention which is to be held at New
Orleans on January "a. rs, 26. will
devise ways ana means for protecting
the producers in the future from the
reverses of speculation, and also a def