The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1905-01-28
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The Cotton Convention now in sea-
sion at New Orleans is meeting under
more favorable conditions than at
tended the recent gathering at Shreve-
port which accomplished little more
than to make itself ridiculous. The
later met under call that had been
| issued when cotton was still COM
manling a high price and before the
crop had been officially declared to be
excessive, and its main purpose was
originally to consider the boil weevil
question and to try to formulate same
cooperative plan for the eradication
of that pest. But when the time of
meeting arrived cotton had fallen in
price as seemingly to demoralize and
| stupefy the planters, who thereupon
began seriously to discuss the advant-
lagos of the weevil and to breach all
sorts of silly and impracticable arti-
fetal plans for restricting future cot
| ton yields.
| The atmosphere in which the pres
ent convention meets is clearer; the
time and the state of public feeling
are better suited to judicious con-
federation of the cotton problem in
all it's relations to Southern pros
perity, and the convention itself
made up of commission merchants,
bankers and manufacturers as well
as planters-should be able to take a
wider view than the Shreveport gath
ering, which was composed of plant
ers alone, and those, apparently, not
all Of tine highest intelligence and calm
ness of judgment. Tt evidently is not,
and certainly need not be, very deeply
concerned with the boil weevil. Calm
consideration of this subject has led
to the conviction that the danger to the
cotton industry in this respect has
been exaggerated and that it can be
controlled, or at least it's injurious
effects lessened, not by nostrums but
by sound. methods of diversified agri-
culture, the rotation of crops and more
thorough cultivation through selected
fertilizers. IF it shall lead to these i'm
provements the weevil will prove more
OF blessing than an affliction. At any
rate it is quite out of the present pro-
blem.
| AS matter of plain fact, the prir-
cipal question now before the South
ern planters is the formulation, so
far as possible, of some scheme for
preventing overproduction and the
Cutting of the market through inju-
dicious sales and shipments; and the
convention will be wise if it confines it.
self to that alone. 1t cannot hope to &C.
complish anything through the forma-
ton of any trust system of restricting
production for the purpose of bulling
the market. All such artificial expedi-
ents for trying to countervall the law
Of supply and demand are not only OPP
posed to the principles Of sound econo-
mics but are sure to prove in the end
must dangerous to those in whose be-
half they are tried. In the long run the
price Of cotton is going to be deter
mined by the cost of producing it and
nothing else. If cotton can be produc.
ed in the South at less cost than else
where and on a scale sufficient to meet
the demand that section will continue
it's practical monopoly of the market
Artificially to reduce Southern pro
duction and make cost higher for the
sake Of a price that will give inodinatt
profit is only to sacrifice permanent in
terests to temporary gain; and there
are plenty of men in the world who arr
waiting to take advantage of ank illu
sion the South may hug to itself il
this respect There is doubtless a middl