The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1905-02-02
CAPT. HoBsoN'S REMEDY
FOR RESTORING PRICES.
Montgomery journal.


The interesting address delivered
on request by Captain Hobson TO the
late cotton planters convention at
New Orleans takes issue with the pol
icy OF restriction of acreage or pro-
duction, to. consider which the conven-
ton was called and advises with great
eagerness a remedy for low prices in
expansion Of demand for a greater
supply.
Hobson contends Cd that there are
30.000.000 Industrious and generally
intelligent Chinese Of China who wear
now only half suits of cotton goods,
awaiting a 100000 bale crop of
southern cotton to wear a dozen or
more suits; 90 that unless the United
States. America" builds without de-
lsy a navy capable of checking Euro
pean intended partition OF China. that
the fact of partition will arrive at an
early GATE; 49, that the southern
states possess monopoly of cotton
commerce.
There is more or less plausibility in
tEis view of the present critical situa-
ton OF the cotton producing industry,
hut the argument of Hobson neverthe-
less remains subject to certain axioms
OF free government and certain promo
sitions of trade that are untouched BY
him. The Journal will make brief
mention OF some of these axioms and
propositions:
Mankind being destined to develop
mentally ana morally by the influence
OF peace and industry, where lies the
| logical connection between abandon
ment OF improvement of rivers and
1 harbors of America, for want of pub
nc money expended on navy to open
rivers and harbors necessary to the
| cotton trade in the vast domain Of
| China?
II China with 43O,O00,000 of industYi.
Gus and intelligent population is liable
10 partition by all Europe combined
With half that population would not
the conquerer make profit on the con-
quest by cul;ivating trade with Amer.
Ca in greater degree than the Chinese
IN their present or independent condi-
ton would ever do?
Would not a policy of generous
American trade with Europe. in lieu of
tarlH locked ports, accomplish a wider
trade with Europe. South America and
CHINA. and all the world. than an
american navy, no matter how great
ana magnificent, can be expected to
accomplish?
would not the free coinage of silver
and gold by the federal government
ana the repeal of the ten per cent. tax
On the issue of private banks reguIat.
ca by the states sevefaily. as OF old
nave the effect of restoring Alabama
tlor nstance) agricultural lands az
eollateral and thus give value to those
lands in the market?
IL the value of our agricultural lands
Is made normal. would not land own.
eTS leaVe the city to resume residence
as OF Old on their country estates. as
Ia Englaho, and thus bring to the cut.
tlvation of the soil an energy and in.
teillgence which would diversity agrf-
culture and so solve the problem with.
cut an exhaustive navy?
In word. Captain Hobson proposes
70 revolutionize the American theories
OF civil government; 10 enter upon a
scheme that has destroyed China,
Rome. Turkey, and Is destroying Rus
STA now; to play a game Of chance
with nations of all the world as pieces
on the checker board; to Dc the thing
that cannot be done as long as human
powers remain as they are known to
be in the twentieth century OF the
Christian era?