The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1905-10-05

d
meeting of the Executive Committee OF
the Southern Cotton Association, held at
Ashevllle, \. C., September 6-S, 1905.
where representatives from each cotton
producing State and Territory were pres
ent, a report on the condition of the cot
ton crop made up to August 25th, was
carefully compiled from returns of more
than $4,000 correspondents showing a
condition OF 13 per cent. as compared
with a condition of 81 per cent for a cor
responding period of 1904. An estimate
OF the crop for this season based on re-
ports from the same correspondents in
dicated a yield of 9 5SS, ,333 bales of cot
ton. Taking this information as a guide
in connection with the present enormous
demand for spot cotton by the spinners
OF the world, the present high prices of
cotton goods, and the heavy cost to the
producers for cultivating and harvesting
this crop, the committee agreed that
eleven cents as minimum price, basis
middling at all interior points, would be
a reasonable and conservative price to be
asked by the producers this season for
their staple 1t has been generally re-
ported, and not publicly denied, that
spinners can pay twelve cents per pound
for middling cotton at the present time
and still make good profits in the manu-
facture of the raw material into the fin
ished fabric Peace has been recently de-
clared between Russia and Japan. The
whole civilized world is in a most pros
porous condition and the spindles in all
the cotton mills of Europe and America
are running night and day to supply the
tremendous demands for cotton goods.
CONSUMPTION UNPRECEDENTED.
The enormous crop of American cotton
reaching the unprecedented figures of
nearly 1900, 900 bales has been easily
absorbed by the spinners at an average
price of nine cents per pound. OF this
crop there was only small reserve stock
of little more than million bales to be
carried in the season of 1866 on the
first of September. If no more than ten
million bales OF cotton are harvested this
season to be added to the small reserve
stock carried over from the crop of 1904
the mills of the world, at the present rat te
of consumption, will face afamine in raw
cotton before another crop can be plant
ed, cultivated and placed upon the
market. The mills have contracted for
many months ahead for the delivery of
goods to be manufactured out of cotton
yet to be bought from the producers
The Exporters have sold to the spinners
cotton to be delivered in future months
which is yet to be bought from the pro
ducers. The spinners and the Exporters
are heavily short with nothing but pa
per contracts in their possession, while
the farmers of the South hold the spot
cotton in their hands and control abso-
lutely the key to the situation. Will the
farmers take advantage of the splendid
position they occupy, and like men, as
sert their rights to demand fair price
for this crop at the hands of the buyers?
Will not the merchants and local bankers
throughout the South line up solidly in
unbroken ranks with the farmers against
the combinations that are SO actively at
work to depress prices and defeat the will
of the people?
MUST DO OUR DUTY.
Every man in the South, no matter
what his avOcation, is expected to do
his duty during the coming months and
to throw their full moral and financial
ability in the great fight we have engag.
ed in The Bear spectators OF Wall
Street and London are using every device
known to human ingenuity to depress
prices The International Cotton Spin.
ners of Great Britain have combined to
| crush the present efforts Of the farmers
to maintain fair prices, and Exporters
are doing all in their power to hammer
down the market The solution of the
problem is easy and simple. The ability
| of the farmers to win the fight is unques-
| toned. Stand together as brothers, bat
Ting for the protection OF your tiresides
and your homes, your wives, children
and your country. Stop selling cotton
at present prices. Cali upon your mer'
chants and bankers to aid you in the he
role struggle that lies ahead. Store your
cotton in the seed wherever possible and
do not have it ginned until later in the
season. Store the lint cotton under good
sheds to keep it dry on the farm or place
| it in warehouses, where the receipts are
needed as collateral to borrow money to
meet maturing obligations. All other
| lines of business borrow money, why not
the farmers, when by so doing they can
hold their cotton off the market and
naturally advance it's price? Pay no at
tention to the 'bearish' literature being
printed and circulated broadcast through
the South. This is done with but one OBJ
iect and to discourage and induce you to
sell your cotton at prices below it's value.
As producers you knew that the crop is
short and that unless you get good
prices at least eleven cents per pound
| there will be but little or no profit in this
| crop.
Hold YOUR cotton and check up the
present heavy receipts and demand not
| less than eleven cents for every pound ol
middling cotton you have to offer. The
Southern Cotton Association, The Far.
| mers' Educational and Cooperative
| Union, The American Society OF Equity
| The Farmers Alliance of North Carolina
have all agreed On the minimum price OF
eleven cents and the membership OF these
powerful organizations, standing to
gether in unity and harmony, can defy
| the combinations OF the world and VIII
another notable victory, the like OF which
was never witnessed before.
Call your county and district meetings
| throughout the entire belt. Build up
your membership in the Southern Cotton
| Association and stand firmly together
for justice and protection. Ii you will
check the sale of your cotton Tor ~ or
| so davs this Association will guarantee
an advance in the price easily to clever
cents per pound. Do not rush your cot
ly and prove to the world beyond al
Question of doubt that Southern farmers
have the ability, the determination ano
the strength to force the world to reeog
nize their power in maintaining a fall
price for their products.
The Southern Cotton Association must
be maintained and financed by the far
mers of the South; its power to protect
the interest of the producer is recognized
and feared by all the leading speculativ.
and cotton interests OF America ant
Europe Ii we go down in defeat th'
enemy will be merciless and 1t VIII S, tax,
twenty years for the South to recove!