Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1905-10-17
SULLY IN SUMTER.
WeII-known Cotton speeulator Urging
the Farmers TO- Hold.

the Farmers to, Hold.
Daniel J. Sully, the world famed
cotton speculator who failed while so
prominently connected with the mem
orable bull movement Of two years
ago. Is taking swing through the
south urging the farmers to stand
pat. He spoke to a thousand people
In Sumter last Friday, and the News
and Courier Of Saturday prints the
following synopsis OF his remarks:
He expressed, his delight at being
present to address such representa-
tive body of South Carolinians. He
thought that he was In a position TO
understand the value Of the cotton
product, and he desired to impress
upon the farmers there assembled GER
tain facts relative to the real value
of their staple product In consider
ing the value he took up first the con-
sumption Of cotton.
The south, he said, provides so per
cent of the cotton Of the world. Eng
land and Europe have spent millions
In an endeavor to foster cotton grow
ing In their dependencies In order to
become independent Of America; but,
I'm all of their efforts they have failed.
In 1908 when they discovered that
they had lost their grip upon the
cotton situation they diverted the use
of their millions from fostering the
growth of cotton in their colonies, and
used the same money to beat down
the price Of cotton here. In 1905 the
farmers organized In New Orleans to
hold their product, and 1t was not
until July that England and Europe
ho foV~ al In
cere. They marshalled all Of their
energy and money In order to beat
down the price; they failed In Sep
tember. but when the government re-
port of 71.02 on the cotton crop was
flashed around the globe, the price
fell. He did not propose to enter In.
to a criticism Of the government, but
would say that he would like to have
an explanation Of what the figures
meant. He showed how the mills
were combined against the farmers to
get the price Of cotton below 8 cents,
and IL they win, cotton will never
the necessity Of combining with ear
restness and determination, and he
said that 1t was essential that It be
done this year, and IL we do not, we
never will.
The spindle industry of Europe has
it's entire output sold 70 1907, and
the sales have been mada upon ba-
sis of IL cent cotton. The farmers
must make them pay that price for
It.
Today, on your streets, cotton Is
selling for 81 cents, and the mills In
their greed for gain are even anxious
to force their price still lower. In or
der that their margin of profit may be
increased. But II this cotton Is held
and the mills realize that they can
not get II at their own price II win
of necessity create competition among
themselves, and the price of the sta
pie will go bounding upward.
Wool has no future market. In
1903 II was worth but cents per
pound on the sleeps back: today It
brings % cents, an increase Of 400
uer cent. The difference between the
wool and the cotton market lies In
the fact that cotton has a future
market, wool has not, therefore the
price of cotton Is regulated by fu-
lures.
The farmers of the south have a
product without which the world, In
Its physical and Industrial life could
not move. Do not think that by hold
ing cotton you are alone, by your
selves-the whole south Is with you,
every bale received In your market Is
wired around the world. Upon these
receipts depends the price of cotton.
III the south withholds its cotton
fror the market the spinners and
spectators will soon find that the
value of cotton Is the price demanded
by the producers.