Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1904-12-14
WOULD LIMIT PRODUCTION.
Cotton Growers Issue Address 10 Farmers.
Reduce Acreage and Fertilizers.

Columbia, December 8,-In accordance
with the resolution adopted at tho cotton
grow crs' meeting last night tho commit
tco appointed to-day issued the following
sclf-cxplanatory lcttor to the cotton
growers Of tho State:
TO the Cotton Growers of South Caro-
lima: We, the committee appointed by
tho convention which met in Columbia
on December $, to issue an address to the
growers, wish to say:
That we hail with Joy the fact that tho
cotton farmers of tho South are begin
ming to realize that upon their industry
depends the prosperity of tho entire
Southland, and to u large extent that of
tho world, and that speculation and
manipulation of tho market for tho pur-
pose of depressing or raising tho price is
of vital Importance, not to him alono, but
to all other industries, and that he is not
alone, as some time reformcrs or So
called reformcrs have led him to believe,
but that he is a partner in business with
every industry in tho South, and that to-
day we wish to impress him with tho
fact that tho bankers, lawyers, doctors,
merchants, manufacturers-overy voca-
ton and avOcatiOn arc extending to him
the hand Of sympathy, not for brothorly
love, but for the sole love of q dollar and
in this fight to maintain the price of cot
ton at rcmuncrativc point, that all that
ho proposes not any moro to bo the slave
of his emotions, but that he will stand
and act according to tho dictates of his
real friends. successful business men,
and that their advice to him, voiced in
this letter to him to-day is that the
laborcr is worthy of his hire, and that
we, representing the different avocations
promise, word and pledge that wo will
extend to him in all Legitimate ways our
moral and financial aid.
SPECIFICATIONS.
Now to specify: Tho spcculator and
speculative market have no regard for
the law of supply and demand, hence our
opportunity. The man who has sold
January, February, March or any future
month has pledged himself to deliver
that cotton on demand or pay the margin.
December is here; thousands of bales
have been sold for delivery in December.
The same in every month running to
July. Holding the cotton for sixty days,
allowing no spots to be placed as hedges
against future contracts, simply mean
that tho Speculator has either to pay the
difference between what ho sells that cot
ton at to-day and what tho broker de-
mands of him rs the margin, or pay the
price of the spots held for that to hedge
his venture. The cotton mills, not
through any fault Of theirs, or any an
tipathy toward the farmer, but simply
because there has been no farmers OK
change, no concentration of cotton
through n farmers organization, have
bccn forced to deal with men for their
supplies who could get it in bulk. Hence
the condition that exists to-doy. The
broker, realizing the disorganiZcd condi-
tion Of the farmer and his lack Of knowl-
edge of the simple business laws, sells to
those mills cotton for future delivery. 1t
is to his interest to dcpreSS the price of
cotton because the margin between what
he buys it at and what he delivers it at
determines the pile he makes on the
transaction. Therefore, the mills have
got to look to these brokers for their sup
plies. Those supplies are promised. The
mills cauiot spin goods, yarn or cloth
out Of the contract written on paper. 1t
has got to come out of your cotton. Tho
brokers have got to supply that cotton,
have got to supply it when the mills re-
Quirc the fu!iil!ment Of the contract.
Hold yonr cotton; set the price and on
delivery day the broker will pay it.
A MANIFEST rHorosIrIoN
1t is manifest to any farmer that if he
has 100 bushels Of corn more than is
necessary for home consumption, that he
has 100 bushels for the market. IT the
market is for 80 bushels, he has so bushels
call L;s oor,, on,j ~ o,,., ,,,uts - hnn,,,,n
oyor,,n,,n No.. smnnl hn nnnst ro"i;,,,
W." , ;S"rps, ~ "t"SU ,'"'."o 49, y
=" ',,'S" ~ I"' ~ ~ ~
nn", ~, H., tm"d '"iS ~;
corn when they have no use for it simply
rs,nps 81 "p.o'"' ,h,t ,, m,,, ,,;ti, t -, n"'
',i D"S'','," ." ;I an, ~ ;t .''U
p,n,I ~ 'i'nt ~. H.; m;,iti, ', n;
','' -. =, ~ -, t'n'
-, irr,,InS ~, 't TX "E 80
:" '"'N ~ ~. P'o' ~, "''.' wy wy i.'ri''''