The news & observer., 1905-01-25

1897 crop 14s71,ooo bales yield per
1898 indicates crop I4,2oS,ooo bales.
The present conditions Of growth and harvest
has been more nearly perfect cit 1897 or 1898
The Census practically bales had
nned 9Th and candid observer investigator
there still be gnned less than 100000
additional which be added at least
bales of ners and rebales
3D. The world last year only 1000 bales
date the statistics of pnnes akngs do
indicate that the consumption has been much increased that 1t
willie exceed, if it reaches, 900 bales.
3d The average price planter for the
of this crop sold the N of January
nearly be ascertaned 1902 cents per h. the price
obtained for the 100000 100000 bales yet unarketed
cents the producer will have been paid
approximately for this entire whicneay all
authorities agree very considerably the pro-
ducton first of bales in 1878
resulted in decline to 534 cents for midd1ing cotton
lin York that despite which the acreage
the succeeding year was Increased az per cent Inc
second crop Of bales produced IN IS9o9
carried mddng cotton in New York to 5-I6 cents,
and reduction in of only per cert
If cotton South for years resulted in
reduction in acreage only per cent, hardly
probable average of pound for this will Jesuit
lin greater 1906 and therefore unless the season
proves reasonable to expect crop OF at least
bales total supply tor the TWO years
o 2soooooo 26ooo,ooo probable rather than
otherwise
4h 1t is evident 26oooooo is far
more than world will present prices
h This years supply of "a, 100000 bales is in
listence and as whole is equal to the sum OF ali
its it makes difference who hods IL, Wnetner
farmers spectators spinners, the market cannot
advance until it is consumed or there develops pro-
spective scarcity is present indication
9TH money to hold cotton and whether or not
the holder is conscious of pays this either directly in
interest storage indirectly through the lost energy
involved unproducve employment of his capital Cotton sold
Yields much cash will next summer
then sold cash obtained can be
Immediately and prohtaby reemployed
h policy of the cotton producer IS to sell this
years surplus, which is gift of God and costs aim
nothing price (not yet reached) which will stimulate
sumption and will permit the manufacturing trade to repair the
speculation and thereby set the ndes OF the
whing with rapdty and momentum that will enable them
American cotton production through
that prices which show reasonable pon
both the producer An unreasonable profit to
either not long economically practicable and sure in the end as
shown present last years speculative deoauc
to result in over stimulation and disaster.
AS to next years acreage would quote the wisdom Dean
Swift which experience the intervening centuries has only
confirmed
He said: "That whoever could make two Of
corn or two blades of grass to grow where only one
grew before would deserve better of mankind and do
more essential service to his country than the whoe
I" race of politicians put together"
As Expansion not contraction; increase nor Teoucto'
policy and destiny of our and people Rcso
on and penalties will change To stimulate consumption
bv reasonable prices reduce the cost of production While
increasing its volume intelligent and most progress
sv methods will be found profitable for the iarner as o m
manufacturer my opinion the only solution OF your soeao
problem which indeed a very simple one
Respectfully,
THEODORE H. PRICE.