The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1905-09-13
Cotton Men Move IncautiOusIy.
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The State is gratified that South Carolina
the best organized ofthe States. concerned IN
the Southern Cotton association. had the
sapest and most business.like represen Ia
lives at the meeting OF the executive com nit
tee In Abbeville. II II had not been for the
efforts OF z. ID. Smith there IL no telling wha,
price this committee would have fixed" fol-
the raw material and what Infinite harm
might not have been done the far rmers.
There can be no doubt OF the sincerity ol
The States WiRh for the prosperity OF South
Carolina far mers ifnO higher motive had In.
auence, q purely selfish one would be sufh
of The State and the south We have opposed
the doing OF that which the executive com.
mittee has done-the fixing by mandate ol
the minimum price Of staple product
course, but In the long run the great prtnci
pies OF sound business will govern and there
viii be q d8 8maging tumble.
On the basis OF q nine and half million
bale crop, the estimate by the cotton associa-
tiuu, >oLton is worth fully eleven cents per
pounl. But where is The guarantee that such
estimate Is correct9 In our Judgment II will
require many months, II mol years, 30 70 or
ganize the cotton men OF the south and 80
organize bureau OF formation that fairly
accurate reports will be assured. Tne analy-
sis of the assoclation's figures made yester.
day by The States staff correspondent at the
Asheville meeting, coupled with ,he remarks
Of Secretary Cheatham, show that much
guessing has been done. NOW, II must be
OBVIOUS 10 every one lQAI Wu6u COtpou ktOW-
ers place themselves in the position OF de-.
msnding OF the world this Year hfty million
dollars more than their fondest hopes LED
them TO expect last year, and base that de-
mand on sn estimate Oi yield, that such esti
mate should be reasonably accurate and
certsiply so. II these figures presented at
Asheville prove fairly correct. the associa-
ton will be fortunate: for this time II will be
ur two bales, only a wise, strong defense, with
luck, ca n prevent slump when the facts are
knowp-and slump will knock hole IN
the prestige Of the association. We have ad-
vocated aud still advocate q safe, conserva-
tive policy and deprecale any course having
tendency 70 discount The influence OF the
association, and TO kill the goose thai lays
the golden eggs.
cotton by mandate, before the crop Is har.
vested, before an early or late frost has cut Oh
or added 10 The yielC by hundreds OF
thousanes OF bales, they make their associa-
ta b ishment Of warehouses and ths n.arket
ing OF Gotten on business principles can be
effective. Rockefeller can name the price OF
oil and Havemey er may dictate the price OF
sugar. That IL because they cOptrol the out
put. The coal baronB. q handful OF men own
| ing the coal, fx It's prices, but with two mil
lion producers and several States imper1ectly
organized. the fixing" OF the plice OF cotton
places The cotton association In tactically
weak position. 1t gets the name OF trust
but cannot en- fol ce It's mandate. The fixing"
| OF the price Is. In effect, but suggestion.
| The cotton planters need warehouses.
When The association attempts 10 fix high
minimum price, the warehouse system is the
only safety. There must be place where
| the cotton producer car find refuge when the
bears squeeze. Warehouse will be places OF
| safety ior The farmer and for the association.
Suppose the cotton Mills Of the world, re-.
cog nizing tendency OF producers TO demand
more for the cotton each year, themselVes
combine and quickly buying up three or
| four million bales, retire from the market,
aud run on hall or one third time? The
or saci.I IT, They cannot hold that I'm.
| Without those warehouses, tuch stand BY
out OF the cotton assoBialion. 1t would have
warehouse system established before attempt
| ing 10 fx an arbitary price for the product.
The association ls I'LL protected In its posi- ton.
The producer, in most instances, must sell ut
current prices or. hold. al his personal risk
and without his money. The bonded ware
| house ID the cotton farmers fortidcation.
| We do not know who were the leaders In
the demand for fixing the price and making
| IL IL or IL cents, but we hazard the guess that
strong backing for such u shorIsighted play
cai0e from the Texans who last winter dt.
Spised the organization, declared there was
money for them in l2 cents cotton and
rushed 1t TO market at that price when the
south Atlantic States were uIgihg that II be
held for 10 cents.
Again, we must express qualification at the
| conservatism OF South Car olinas re pr sen Ia.
| tives in the Asheville meeting.