Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1905-02-24
FEWER BALES MORE MONEY

FEWER BALES NUKE MONEF.
President e. D. Smith to State Cotton
Convention.
On his election to the presidency Of
the South Carolina Southern Cotton
association last Tuesday, Mr.. e. d.
Smith of Magnolia, s. c., spoke as fol-
lows:
Gentlemen of the Convention: / con-
gratulate South Carolina and the en-
tire south upon the fact that we have
lived to zee the day when all class dis
tinction has been obliterated; when
the entire south has rallied to call
to protect her financial interest. This
is not farmers fight, 1t is question
that involves the welfare of every In
dividual throughout the entire south
land. We have heard the old cry that
you cannot organize the farmer. Judg-
ing the future by the past, this is true,
and he should not have been organized
upon the plans heretofore attempted.
Because cotton Is the primary basis of
southern prosperity and the farmer
attempting to organize himself and ar
raign himself against the merchant.
the country against the town, false
principle. which being wrought In the
real life must have inevitably, as 1t
did, work itself out in disaster. The
proposition that confronts Us today Is
q simple one. capable Of solution. 1t
Is question whether 100000 OF cul-
tured people have a monopoly Of the
greatest product known to mankind for
the power to control or whether aey
have not.
American cotton at 10 cents per
pound is without a competitor as an
article of clothing for the world. I'he
only other competitors are WOOL flax
and silk. Wool cannot be compared to
cotton as an article of clothing for the
millions Of mankind upon q. basis Of
10 cents per pound for cotton. g,he
limited area capable Of fax culture
makes 1t impossible for flax to enter
as a competitor. The production OF a
yard Of silk is so costly that 1t is elm
mated when compared with cotton at
10 cents per pound. Foreign cotton
cannot enter into competition with
American cotton for the reason that
the process Of its culture and market
ing are so costly that II cannot com
pete with American cotton; therefore,
the only competitor that American cot
ton can possibly have is American cot,
ton. In ,ther words, the only thing
that can bring the price Of American
cotton below 10 cents per pound is for
the American producer to raise sir-l
plus beyond the worlds requirement
and to place this surplus on the mark
ct, to give In competition what the
world demands. Hence the solution Of
this question depends upon the wisdom
with which the southern people, who
having practically the monopoly of
cotton at 10 cents per pound. whether
they will be guilty Of the folly Of dis
regarding the law Of supplying de-
pand, disregarding the simple law Of
Increasing and diminishing returns
and agait, next year place upon The
market surplus which carried over
from this year will inevitably reduce
the price Of cotton far below the cost
Of production and bring stagnation, If
not bankruptcy, to the entire business
world Of the south.
In order that you may understa nd
the issue before us, last year and this
year see !. to have been placed by
Providenc. in sharp contrast making
the lesson taught US 50 plain that a
way-faring man, though fool, may
not mistake. We take last years
crop at 100000 bales which at 10
cents per pound brought to the south
$500, 100000. This year, having pro-
duced 100000 at the present price Of
cotton would have brought In the south
only $500. 0.O00.000 making a difference
IN favor CT the lesser crop Of $4,000
900; adding to this the $40 per bale to
produce the extra 100000 bales, We
have to the profit account Of the lesser
crop $4,000, 900, or In other words,
$40 per capita for every man, woman
and child in the southern states. This
$40 per capita means increased schools
and school facilities, 1t means industri-
al development, financial development,
social development, every form of
prosperity. In other words, develop
ment Of the wonderful resources Of the
south. Eliminating this $170,000,000
we have left to the south the broad
ability to reproduce another monstrous
crop upon which the speculative world
may increase its account, heap up Its
fortune at our expense, which in no
sense enriches US but leaves US poor
indeed" and In view Of these facts the
southemer, the native born southern
er, who Goes not join In this move
ment so clearly defined for southern
prosperity is a bastard in his heart
and a traitor to his country.
Every financial organization In the
south has responded nobly to the cali.
The bankers In convention assembled
have pledged their support: the COM
mercial bodies that have been ap-
preached have opened their purses and
already we have accumulated $4,000.
The dawn Is breaking and those Of rs
who have toiled in darkness and doubt
will soon stand in the glorious dawn
Of liberated south, liberated from the
narrowness, the ignorance and the
domination Of political demagogues
who for years have taken advantage
Of our poverty and Of our ignorance
and have led US far astray, but the
farmer Of today is not the farmer Of
decade ago, neither Is the business
man OF today the business man Of
decade ago. We have learned our les
son through a bitter experience that
United we stand, divided we fall"
We do rot look to politics-that ap-
pie of Sodom has already turned to
ashes in our hands and left its bitter
ass In our hearts. We do not look to
tne farmer alone, he has done his duty
as he has seen 1t in all the years past.
We do not look to the bankers alone
nor the merchant alone, but to the
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