New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-01-31
AGAINST AMERICAN COTTON.

A few months ago we pointed out in these
columns what seemed to us the pretty obvious
fact that cotton corners" We're likely to prove
in the end injurious TO the American cotton
industry. Prices were being artificially forced
I'D TO an extortionate height, in the interest of
spectators. The result was that some Ameri-
can mills had to close and so had many Eu-
ropean mills which were dependent upon Amer
lean cotton for raw material We were then
well aware Of the dissatisfaction that prevailed
in Europe at being at the mercy Of such condi-
lions, and Of the practical and widespread eff
forts that We're there being organized for the
development of other sources of supply. in
Africa. Asia and elsewhere. For the warnings
which we then gave 10 Southern cotton pro-
ducers we got some thanks and some abuse.
Not few seemed to regard our warnings as
an attack upon the American cotton industry,
and our protests against extortiOnate specula-
tive prices as expressions Of unwillingness TO
let the planter get fair price for his cotton.
The ground we took is now amply indicated
by official reports from Europe which indi-
cate that the movement to get cotton from
other than American sources is assuming even
greater and more menacing proportions than
we anticipated. Mr.. Mason, the United States
Consul General at Berlin, writes Of it as re-
volt against American cotton. Great Britain,
France and Germany, he tells us, are making
a simultaneous effort TO emancipate their tex
tile industries from dependence upon Amerl-
can cotton. The causes of the movement have
"been brought into especial prominence by the
events of the last season" That is to say,
European manufacturers are willing TO pay fair
prices, but they are not willing to pay extor.
tomato prices for the sake of enriching spec
ulators who organize corners" in the cotton
IL NJ inst
American cotton trade methods throughout
Europe, and it is taking the practical form Of
developing cotton culture elsewhere.
Mr. Mason further reports that the British
Cotton Growing Association has lately received
a sample shipment of thirty tons Of cotton
from Lagos, (which is pronounced equal TO the
'best American upland in both length and
Equality Of fibre" The French Colonial Cot
ton Association has received from its planta-
tons in the Soudan samples of cotton approx
mating to the best Egyptian staple. Germany
is engaging in the same enterprise with similar
success, the cotton produced in the East African
colonies being pronounced highly satisfactory
by the Cotton Spinners' Association of SaXony.
There are said to be thousands of square miles
Of land in those colonies perfectly adapted to
the growth of cotton equal TO II not better
than the best American product. Mr.. Mason is
justified in saying that this movement may be
ominOus for the cotton growers Of our Southern
States. There is reason 10 apprehend that ii
may be. These European rivals of ours are
importing into their African colonies many
skilled laborers from our cotton plantations to
serve as foremen and teachers, and they are
also sending to the United States many bright
young Germans and FrenchmeD TO learn the
business here and then go to Africa and put it
into practice.
Now, in 1902 Germany bought S76,OOO,OOO
worth of cotton from us. Great Britain in the
same year bought S126OOo00O worth, while
Frances purchases amounted to more than
| S31OO0000 These are not negligible quaint
ties in our commerce. The stOppage OF such
( purchases by Europe would surely have an I'M
pleasant effect upon our cotton growing indus
try. That is why we said months ago, and
now repeat, that such cotton speculation as
that Of last year is simply killing at least one
of the geese that lay golden eggs. 1t may be
! profitable for the moment to a few. In the
end it will be Improbable TO the many.