The Birmingham age-herald., 1904-01-16
Famous Hayne Expects to See
 15,OOO,OOO Bale Crop
BENEFITS OF HIGH PRICES
SuIly Claims That Bull Manipulation Did Not Result In Fortune to Himself and Mlsfor-
 tune to Others.

New Orleans, January 15.-Under the auspices of the Progressive union. a rep- resentative meeting of business people, in which the cotton element largely pre- dominated. listened to an illuminating dis cusson of the cotton problem tonight with President A. Brittin of the Cotton exchange, Dan J. Sully of New York and Frank B. Hayne, leaders of the bull cam paign, as the speakers. w. B. Brown was unable to i'll an engagement to partici- pate.
 MT. Brittin contended that bull cam paigns were not responsible for prevail- ing prices
 No cotton king ever added a cent a pound to the price of cotton" said MT. Brttin. ''The memorable law of supply and demand Is alone responsible for it's fluctuations. Cotton Is high because the supply is short Production has not kept pace with consumption"
 The boil wseyil, MT. Brlttin said alone ste cd in the way of an adequate supply. Ultimately, too, the south would raise all the cottcn required by the worlds needs.
 Mr Sullys recognition was unusually cordial.
 Dsclaims the Honor. T disclainl what some have designated as the honor of worldwide fame through such manipulation of tile cotton market as results in fortune to myself and mis- fortune to others he said. Whatever good fortune may have come to me and such others have been in accord with m vi ig Qf mi nj mn lation, but the legitimate product of recognizing existing as well as natural conditions.
 The progress of the Nineteenth centu- ry is being extended with a constantly accelerated movement. and gives promise ! of gathering in its fold all humanity" hs sad. Ut is within this sphere of devel- opment that lie most wonderful and marvellous opportunities for the future. The worlds demands for supplies give promise of steady and continuous in- crease We have already reached d stage where it is in need of twelve-milion bale crop of American cotton.'
 MT. Sully thought that the south had not received such value for It's cotton as the existing labor conditions justify. ( Effect of Enhanced Value.
 MT. Hayne spoke of the effect the en- hanced value of cotton had had on the l prosperity of the south. From the laborer to the capitalist from the barkeeper to the clergyman, no one living in the south had failed to derive some benefit.
 Whea cotton was at 6 cents, the small farmer was no better off than his laborer. His children were in rags and his wife and daughters gathered the crop His lands went for taxes He sunk more and more deeply into debt. High priced cot ton had filled the banks with money, had wired out mortgages, had fattened the farmers s purse and made the south more prosperous than at any time in it's his- tory
 MT. Hayne said he would hate to feel that this prosperity was at the expense Of the mills. Their misfortune was only temporary. As the years roll by the south will consume more and more of it's cotton and high-priced cotton, which nat urally means high-priced goods. will bring more prosperity to the mills than low-priced cotton. MT. Hayne said he expected to see the south raise 15,0O0 OJ0 bales of cotton year.