The leader., 1905-02-22
FARMERS URGED
TO STAND PAT.
If THEY WILL, THE FIGHT IS WON.
SAYS PRESIDENT JORDAN.
Planters and Merchants Should Hold
Cotton and Assist Advancing
Market.

Atlanta, Ga, Feb. 90. The
following statement by President
Jordan was given out at the head
lquarters of the Southern Cotton
Growers Association in this city
today:
The delegates to the State and
territorial conventions on the 21st
should pass ringing resolutions
endorsing the policy of the South
lern Cotton Association to secure q
reduction Of at least 25 per cent.
in the cotton acreage and use of
commercial fertilizers to be used
under cotton for 1906; also call
ing upon every spot holder Of cot
ton to tighten up his grip and re-
fuse to market a single bale until
the price advances to fair and le-
gitimate figures. The New Or
leans convention adopted a resolu-
tion, which was unanimous, call
ing upon the people to hold their
spot cotton until prices reached 10
cents per pound delivered at the
ports, which would make the
price about $50 in the interior.
The only way to break the pres
ent advancing market is to throw
spot cotton on the market and en-
able the buyers to fill their con-
tracts.
Recent Investigations at all
prominent cotton centers show be-
yond all doubt that exporters are
heavily short of spot cotton to fill
their contracts with. They will
be utterly unable to carry out
these contracts at present prices
|if the holders will stand pat and
refuse to sell. The crisis in the
situation is rapidly crystalizing,
and but for one of two things
must happen in the near future.
Either the farmers and other
holders Of cotton must relieve the
.predicament the buyers are in by
selling at present prices, or the
buyers will, of absolute necessity,
be forced to go actively into the
spot market and bid prices up to
a point where the spot holders are
willing to sell. The fight is now
whipped and all the farmers have
to do is to continue to hold their
cotton and force the buyers to
pay what the cotton is worth.
The exporters are heavily short
for all the future months; there
fore, when sales are made, sell on
" a small portion Of our holdings
and keep the buyers strained up
to fill their contracts. The price
of cotton can be advanced 2 cents
per pound within the next so
days if cotton is held firmly as at
present. Let there be no waver-
ing anywhere IN the ranks.
From many sections inquiries
are coming in asking if a farmer
who planted only ten acres of cot
ton to the plow in 1904 should re-
|duce his acreage 25 per cent. also.
The general cut of at least 25 per
cent. should be made on every
farm, no matter what acreage.
Extensive cotton fields should be-
cut 33 per cent. It is better to
work eight acres il cotton at a
profit than to cultivate ten acres
at a loss. The man who does not
reduce his acreage will be making
Ia profit on the cotton he raises ab
the expense Of his neighbors who
do reduce. Let every man put
| his shoulder to the wheel. Let
the reduction be prorated accord
ling to the acreage planted ID 1904,
on a basis of at least 25 per cent.
less, and no man will have cause
/ to regret his action next fall.
Reduce the use Of guano at least
25 pea cent. and in no instance in
lcrease its use under cotton. We
must decrease production this
year, and this is tie only way to
do it. Plant more food supply
Icrops.
The movement to retire the sur
Iplus Of 1900, 900 bales from the
market until next fall will soon be
lstarted, and will be successful.
With The surplus out Of The way,
land the reduction Of acreage and
luse of guano an accomplished
fact, the balance of the crop left
lin the hand Of the holders will be
needed fol- Immediate c0nsump-
Ition and can BE- sold easily at
much higher prices than those at
present prevailing.
The State conventions on the
| l21st should also pass resolutions
leaIIsno un0n landlnrde ~ divide