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 Intelligent Address. Made by
the Committee Appointed for
tho 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:<s
We, the committee appointed by
the convention which met in Colum.
bia en- Dec. to issue an address to
the cotton growers, wish to say that
we hail with Joy the fact that the cot.
ton farmers Of the south are beginning
to realize that upon ttelr industry
depends the prosperity of the entire
southland and to a large extent that
OF the world, ID thatspeculation and
manipulation Of the market, for the
purpose Of depressing or raising the
price, is of vital Importance, not to
him alone, but to all other industries,
and that he is not alone, as sometimes
reformers or SO. called reformers have
led him to believe, but that he Is a
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 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 OF cotton at q remun-
erative point that all that he has to
do Is to show to the world that he
proposes not any more to be the slave
OF his emotions, but that he will stand
and act according to the dictates Of
his real friends, sue cessful 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 vtcations and professions, extend
to him cur PROMISE, word and pledge
that we will extend to him in all
Legitimate ways our moral and iaan-
cial aid
Now to specify: The speculator
and the speculative market have no
regard for the law OF supply aud de-
mand, hence our opportunity. The
man who has sold January, F, 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 for delivery in Decem
Der. The same in every month run
ming to JIy. Holding the cotton fer
80 days, allowing no spots to be placed
as hedges against future contracts,
simply means that the speculatOr has
either to pay the difference between
what he 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 farme;, but simply because
there has been no farmers exchange,
no concentration OF cotton through a
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 be buys IL
at and what he delivers it Mt deter
mines the pile he maks2 on the trans
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 fultilltnent
Of the contract. Hold your cJttop;
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 corn than is
necessary for home co sumption that
he has 100 bushels for the market. 1t
tho market Is for 80 Bushels, lie has
90 bush Is surplus. If he goes into
the market to sell his corn and no one
wants 1t because every ore has sup
ply, he must realize that he must dis.
oose OF that corn at a sacr flee or hold
& himself. He cannot expect n man
of 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 stcd, and either
plant as to have no surplus, but to
meet the require mints of the trade
This S an illus ration II the clndl-
lion that cOnfronts us in the Gotten
market. IL we expect the world to
oay us a remunerative price for our
cotton, we must either cary our surplus
ourselves, fix pr ce on the amour the
world demand5 oe raise just SO muc /
as Is necessary for the consumption of
the trade. .TheIe fore, as 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 Il 80 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
tie &c nand at 10 per cent. belo v con.
sumption and realize the 90 per cent.