The Marlboro democrat. [volume] (Bennettsville, S.C.) 1882-1908, 1905-01-06
FAsHnas " AHArD
Against 4 Eropcssi That WIN Keep
Prioe sr Cotton Down.

no the EditoE ste:
I have NOTED the proposl OF
certais, cotton merchants Ia which
they solicit shipments OF cotton from
the farmers, offering free storage with
tie privilege ofsusing the cotton IN,
their business and agreeing to settle
for 1t at any time desired by the ship
'pers at the current price at time Of
settlement.
I1have no criticism to make OF the
cotton men making this proposition,
but wish to warn farmers against
accepting 1t IL they hope to realize
any beDe at from holding their cotton.
lam informed thatsa number OF mills
In this country and also in Europe
have been pursuing hand to mouth
policy buying only cotton for present
needs and having only small supply
on hand. IL this ,is the case and the
cotton now In farmers hands is abso-
lutely withheld from tho market a
demand will soon be created, stccks
Will be depleted and spinners will be
forced to buy cotton or close their
mills. Now II the cotton is consigned
90 exporters under the proposition re-
ferred to above, these exporters can
go right on supplying the mills as
they need 1t from week to week and
month to month, there will therefore
be no Withholding OF tho cotton, no
pressure on the spinner, in fact moth
ing to create an ,Stual demand or
cause any advance in the price, the
farmer will simply be spiking his own
gun. II any pressure Is brought to
bear on the market the cotton must
be kept at home or stored In the near
est warehouse.
TO illustrate, suppose tho price OF
cotton seed was down at a fgue to-.
tally unremuneratiye and unsatisfac.
tory to the farmer and the oil mills
were to send out circulars agreeing to
take all the seed and promising to
settle at current prices at time re-.
quired during the season, and the seed
was delivered to them under these
conditions, is 1t not manifest that
With the seed in their posses sion,
their mills running on full time, there
would be no incentive to force an ad
vance In price, but, suppose the seed
were hauled away from tho gins, car
ried back to the farm and q deter.
mination shown to put. them in the
ground as fertilizer rather than &C
cept unsatisfactory prices, the effect
would be almost nitantaneous, mills
would be obliged to paylremunerative
l'prices or shut down. and the chances
are that they would pay.
The same principle applies to cot.
| ~ 10 trt,o =
back In the gronnd as fertilizer as the
seed, but 1T will keep. and it is cheap
er to keep 1t than to raise it at pres.
ent prices.
The crop last year was little over
fearing a cotton famine, went wild.
This years crop is estimated at 20 per
cent. over last years crop and they 60
equally wild in the other direction.
There was little reascnsf5r last years
extreme advance aud less for this
years decline. The bears in the mar
ket, baSing their opinions on the gin
uers' report, estimate that the crop
will be over $4,000, 900 bales and they
act as II they Thought that every bale
Of this cotton would be thrust on the
market, that there would be more
than enough to go around, and conse-
quently there is nc necessity for them
TO pay even cost of prohibition for it..
They forget that iRss5 5s= bout as
cheap to buy cotton at present prices
as t. raise 1t where commercial fertl-
lizers are used, and while the crop
:na, equal or exceed the government
estimate, 1t won'e be sold at current
never. and probably will never be
counted In the crop OF 19O4-19O5 unless
there is material advance in the
price, because rather than accept cur
rent prices it will pay better to store
the cotton and borrow money on IL.
A 500 pound bale of cotton at present
price, at initial point, is s "a cents,
equals s33-75. To carry this one wear
at 8 per cent would be less than 7 l.
for the cotton, while such action, IL
at all unanimous, would advance the
price probably two or three cents per
pound.
My advice is to plant the lands in
tobacco, corn, oats, peas, sugar cane,
raise hogs curtail cotton acreage and
wait till the world wants cotton at
remunerative prices. B.
Marion, Dec. %, 1904.