The Montgomery advertiser., 1904-12-06
BROWN SAYS HGzO H2 COTTON Staple Should Bring 10 Cents a Pound. WORLD NEEDS THE CROP All the South Should Stand
 Together. New Orleans Cotton King Thinks That the Estimate k Too Large
 spinsers Now Making
 Good ProAts.
WORLD NEEDS THE CROP

New Orleans, Dec. 5.-W. P. Brown. the great cotton king. has issued an address over his signature, as follows: To the Planters. Merchants and Bank
 CTS of the South:
 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, l will say that the balance of this crop should bring at least 10 cents at the ports, and according to my judgment the only way to obtain an advance is for the 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 cot ton should not force what they have on the market, but stand firm and de- mand 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 pres- ent prices, which they all know is be- low the cost of production. These prices mean ruin to the South It af- fects every branch of. trade and the only thing to do Is for every man in- terested in any manner. shape or form. to stand together.
 Whole Crop Needed.
 For the sake of argument, admit that the crop Is 12,000,000 bales dhough do not believe 1t is). The consumption at these prices will be at least eleven and a half million bales, and the other half million bales will be a small quan- tity to go into the mill reserves. The spinners of American cotton through out the world should at least add this year to their depleted stocks half a million to a million bales. The visi- ble supply at the end of the season, in order to prevent .saueezes" and "cor- ners" should be at least one and quar- ter million bales. Any we'll posted cot ton man knows that this Is practically correct, hence I see no reason for tire holders of cotton to get scared and sell at anything like present prices.
 Since the Bureau report was issued on Saturday we have seen great many telegrams from some of the very best cotton merchants scattered over the South to the effect that they believed the estimate was too large. I 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 [ 1-2 cents in the New Orleans mar ket.
 Cost of Production Increased.
 The South went broke raising cot ton at 5 1-2 cents and 6 cents per pound in 1s9z-9s, and during that pe- riod everything was cheap as well as cotton and the cost of raising cotton was small as compared to the present crop, which is the most expensive one ever grown. It would pay the farm CTS to sit still and not market another bale of cotton until he can get above 10 cents and. reduce his acreage an other season at least IS per cent, and instead of raising another bumper crop raise only enough to supply the world. The last crop was only lO,o0O,- 900 bales and it brought more money than any crop ever raised-much more than this crop will bring unless the balance left brings much higher prices than those ruling today
 With cotton at 1-2 cents at the ports. cotton plantations are worth to- day just about half what they were at this time last year Now. every man that Is interested in the South. regard less of the character of his business, should be interested In keeping up the nrice of cotton. Cotton Is one of the few things that the world must have and the South has a monopoly on me territory where 1t can be grown, yet IL won't take advantage of the sltuation'
 There are SO many things that can be raised in the South profltably, why not turn your attention to other things ana raise less cotton? We have been told that we need a twelve million bale crop this year. and now that you have raised one close to that figure, they say you must sell 1t at q sive-away price.
 should stand Together.
 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 spinner will buy 1t inst as low as he possible can, and l 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 spectators. spin ners in every country of the world with a few exceptions are doing the pest business in the history of the trade They can afford to pay from to 10 cents per pound and make good pront at the present prices goods are bring ing. The consuming world is in position financially to pay higher prices today than it has been TOT great many years.
 Low priced cotton really ought to be a tbing of the past Look at the prices of wheat and corn. We have raised big crops all over the world with the execution of this years wheat crop yet prices are double what they were few years ago,
 A twelve million bale crop is worth m cents and that ought to be the low price for a great many years to come, and 1t rests with the producer to say whether or not he will raise more than the requirements of the world and be- come pauper or wnether e.her ne n wi1r ra,s ans grow rich.
 But the present moment is the most ironortant one Hold firm. stand together and don't give your cotton away at present prices
 W. P. Brown.