The Marlboro democrat. [volume] (Bennettsville, S.C.) 1882-1908, 1904-12-16
TO COTTON GROWERS.
Circular Letter in Accordance With
Resolution of Convention.
MUST CURTA1L THE PRODUCTION.

An 1nteliigens Address Made by
the Committee Appointed for
the Purpose at the
Late Meeting.
In accordance with resolutions
passed at the cotton growers conven-
tion On Thursday night, the commit
tee appointed has prepared the fol-
lowing for publication in this State:
To the Cotton Growers OF South Caro-.
lina:.
We, the committee appointed by
the convention which met in Colum-
bia en- Det g to issue an address to
the cotton g1owers, wish to say that
we hail with joy the fact that the cot.
ton farmers OF the south are beginning
to realize that upon their Industry
depends the prosperity of the entire
southland and to large extent that
of the world, and that speculation and
manipulation OF the market, for the
purpose Of depressing or raising the
price, is of vital Importance, not to
him alone, but to ali other industries,
and that he Is not alone, as sometimes
reformers or so.called reformers have
led him to believe, but that he Is o
partner In business with every Indus
try in the south, and that today we
wish to impress him with the fact
that the bankers, lawyers, doctors,
merchants, manufacturers-every vo.
cation and avocation-are extending
to him the hand of sympathy, not for
brotherly love, but for the sole love
OF dollar, and In this fight to main
tain the price CT cotton at Isn1un-
erative point that all that he has to
do Is to show to the world that be
proposes not any more to be the slave
OF bis emotions, but that he will stand
and act according to the dictates of
his real friends, successful business
men, and that their advice to him,
voiced in this letter to him today, Is
that the laborer Is worthy of his hire
and that we, representing the differ
ent ave cations aud professions, extend
to him cur promise, word and pledge
that we will extend to him in all
legitimate ways our moral and fiaan-
cial aid.
Now to specify: The speculator
and the speculative market have no
regard for the law OF supply and de-
mand, hence our opportunity. The
man who has sold January, L, b.uary,
March or any future months has
pledged himself to deliver that cotton
on demand or pay the margins. De.
cember is here; thousands of bales
have been sold FIR delivery in Decem
Der. The same in every month run
ming to July, Holding the cotton fer
80 days, allowing nospots to bs placed
as he'ges against future contracts,
SimplJ means that the speculator has
either to pay the difference between
what ne sells that cotton at today and
what the broker demands Of him as
the margin or pay the price of the
spots held for that to hedge his ven
ture. The cotton mills, not through
any fault OF theirs or any antipathy
toward the farmer, utsimply because
there has been no farmers exchange,
no concentration OF cotton through
farmers organization, they have been
forced to deal with men for their sup
plies who could get 1t in bulk Hence
the condition that exists today. That
the broker, realizing the disorganized
condition or the farmers and his lack
OF knowledge Of the simple business
laws, sells to these mills cotton for
future delivery 1t Is to his interest
to depreSs the price OF cotton because
the margin between what he buys ii
at and what he delivers 1T at deter
npN tho milo hn lyn 10
action. Therefor the mills have got
to look to these brokers for their sup
plies. These supplies are promised.
The mills cannot spin goods, yarn or
cloth out Of the contract written on
paper. 1t has got to come out Of your
cotton. Tie brokers have got to sup
ply that cotton, have got to supply 1t
when the mills require the fuliilltnent
Of the contract. Hold your cJtton;
set the price and on delivery day the
broker Will pay 1t.
1t is manifest to any farmer that II
Re has 100 bushels more c)rn than is
necessary for home co sumption that
he has 100 bushels for the market. Ii
Tho market Is for so bushels, he has
90 bush Is surplus. II he goes into
the market to sell his coru and no one
wants 1t because every ore has sup,
ply, he must realize that ne must dis.
oose or that corn at 4 sacr flee or hold
& himself He cannot expect man
II the trade to take his corn when
they have no use for 1t simply as a
special favor to him. This is not
business, SO thai next year, with that
experience In mind, he will either un
derstand the market, put himself In a
position to keep p sted, aud either
plant as to have no surplus, but to
meet the requirements Of the trade.
This S an illus ration II the c)ndi-
lion that cOnfrontS us in the Gotten
nai ket. If we expect the world to
pay us remunerative price for our
cotton, we must either cary our surplus
ourselves, tx pr.ce on the amount the
world demands o" raise just so muc
as Is necessary for the consumption Of
the trade. Therefore, as a farmers
organization we call upon each man to
exercise good common business ser Sc,
and II we have produced 10 per cent.
too much, which has cost 90 per cent.
reduction In the price, let us SO regu-
late our next years crop that we Will
raise just what Is necessary to meet
t1e demand at 10 per cent. belo con-
sumption and realize the 80 per cent
pr. fit. LaSt year taught the 80 per