The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-07-05
FOR THE
Cotton Grower.

The Southern Farm Magazine of
Baltimore in a double-leaded editorial
in it's July issue, says:
For many years the vast financial
interests in Europe and the North in
terested in cotton manufacturing. as
well as most of the cotton spectators
in New York, have combined to beat
down the price of cotton, having no
interest in the welfare of the South
and no concern as to whether South
ern producers became impoverished
by low prices or not. These bear"
spectators, whether they simply be
the bear" operators on the cotton
exchange of New York and Europe or
the bear manufacturers who could
make moro money out of low price
than out of high price cotton, have
used every power at their command
to create the impression throughout
the world that the high prices of the
last twelve months have been unjusti-
fled, claiming that they were due to
gambling operations of Mr.. Sully and
his associates. Even Secretary Will
son of the Agricultural Department
went out of his way last summer to
denounce as gamblers the operators
who We're fighting for higher price
cotton for the South, leading spinners
not to buy until prices could be ham
mered down. When by the combined
influence of these great operators, who
are the worst gamblers that have
cursed the cotton trade, Mr.. Sully
was whipped out they won a victory
against the South when has already
resulted III q movement for still low
CT prices. The department at Wash
ington seems to be working somewhat
IN sympathy with the bear gamblers
In trying to convince the puuIIc that
Europe is going to become indeDend-
ent of the South for its cotton, and
the papers of all sections are flooded
with false reports about that situation.
The fact that mills in New England
and i'll Europe have had to close by
reason of an actual shortage of cotton
in the worlds supply is held UP as
an illustration of the disastrous effects
of the bull movement in throwing
operatives out of employment. Great
care is taken to avoid telling the ac-
tual facts, namely, that mills are
closed because cotton cannot be had,
the supply being practically exhausted,
and equal care is used to avoid point
ing out the fact that while some thous-
ands of operatives have been thrown
out of work for few months by rea-
son of the closing of mills, on the
other hand, high price cotton brought
millions of cotton growers out of pow
erty into comparative prosperity The
Z. Brown, Frank Hayne and others
last summer and fall against the COM
bined influences of the United States
Department of Agriculture and cotton
bear" gamblers in mill managers and
spectators against high prices forced
the price to a point where the farmers
got the benefit OF thee advance early
in the season, and gave to the pro-
ducers of the South 100000, 900 for
last years crop, against 1925, 100000 |
for the crop of 1898, the largest ever |
produced.
Today the same tactics are being |
used as heretofore to break down the |
price of cotton. Every effort is being |
made to create the impression of an
enormous crop, simply because of a |
larger acreage. The uncertainties of |
the weather, the lack of sufficient Ia
Dor to properly cultivate a large acre
age, and the still greater lack of Ia |
Dor in picking a large crop are ig- |
nored, and already reports are being |
sent broadcast of possible crop of |
14,000.0 900 bales. This is all done for |
the purpose of breaking down prices |
during the summer in order that the |
mills and the gambling operators on |
the bear" side may be enabled to buy |
the new crop at a low price early in |
the season, that they, and not the |
farmers, may reap the benefit of any |
advance later on.
Mr.. Sully presented an idea which |
has walked the South TO it's possibili- |
ties, and though he has been temper
arily downed by the combination |
against him the Southern Farm Mag |
azine believes that he will again be- |
come a powerful factor in other fields |
of activity II. which equally as much |
can be accomplished for the good of |
the Southern farmers.
The Southern Farm Magazine is in |
the fight for the Southern cotton
grower. 1t invites from its readers
throughout the cotton section of the
South correspondence bearing on ev-
cry phase of the cotton industry, su:h
as conditions affecting the crop, Ia
Dor, seed and soil deterioration and
everything else which would throw
q light upon cotton-today the DOM
inant subject of discussion in the bus
mess world.